Sensex Crashes Over 1,200 Points On Weak Global Cues; Nifty Trades Below 17,250

Sensex Crashes Over 1,200 Points On Weak Global Cues; Nifty Trades Below 17,250


Stock market: The general breadth of the market was weak.

New Delhi: Indian equities benchmarks continued to fall for the fifth straight session on Monday amid weak global signals. Asian stock markets plummeted as investors prepare for a Federal Reserve meeting in which they are expected to confirm that they will soon begin to drain the huge liquidity lake that has overburdened growth stocks in recent years. years.

At 12:04, BSE’s 30-share Sensex package fell 1,056 points or 1.79 percent to 57,981, and broad NSE Nifty fell 317 points or 1.80 percent to 17,301.

Mid- and small-cap stocks were in the negative zone, as the Nifty Midcap 100 index fell 3.37% and small-cap shares traded 4.20% lower.

“With openings following weak global signals, markets are likely to continue their slow trend,” said Gaurav Garg, head of research at Capitalvia Global Research Ltd.

In terms of specific shares, JSW Steel was the main loser in Nifty as the shares broke 3.41 per cent to Rs 643.55 per cent. Divi’s Lab Hindalco, Bajaj Finserv and HDFC Life were also among the laggards.

In addition, shares of Zomato and Paytm fell 18.48 percent and 5.64 percent, respectively, to reach their lowest levels since trading.

The overall market size was weak, with 496 shares advancing while 2,992 down the BSE.

On the 30-share BSE platform, Wipro, Tech Mahindra, Infosys, Titan, Asian Paints and Bajaj Finserv attracted the most losses with their shares falling to 2.83 percent.

Sensex had fallen 427 points or 0.72 percent to close at 59,037 on Friday, while broad NSE Nifty had settled 140 points or 0.79 percent lower at 17,617.



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