Sensex, Nifty tumble over 1% on weak global cues, foreign fund exodus

Extending its previous day's decline, the BSE Sensex plummeted 930.55 points or 1.15% to settle at 80,220.72. NSE Nifty tumbled 309 points or 1.25% to 24,472.10.

Equity benchmark indices Sensex and Nifty plunged more than 1% on Tuesday (October 22, 2024) due to across-the-board selloff amid massive foreign fund exodus from the capital markets and sluggish global equities.

Besides, a weak earnings growth trend also dented market sentiment, traders said.

Extending its previous day's decline, the BSE Sensex plummeted 930.55 points or 1.15% to settle at 80,220.72. During the day, it tanked 1,001.74 points or 1.23 % to 80,149.53.

The NSE Nifty tumbled 309 points or 1.25% to 24,472.10.

From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.

In contrast, ICICI Bank, Nestle and Infosys were the gainers from the pack.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,261.83 crore on Monday, while Domestic Institutional Investors (DIIs) bought equities worth ₹3,225.91 crore, according to exchange data.

Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, on Tuesday made a muted market debut and ended over 7% lower against the issue price of ₹1,960.

In Asian markets, Seoul and Tokyo settled lower, while Shanghai and Hong Kong ended higher.

European markets were trading lower. The U.S. markets ended on a mixed note on Monday.

Global oil benchmark Brent crude climbed 0.61% to $74.74 a barrel.

The BSE benchmark declined 73.48 points or 0.09% to settle at 81,151.27 on Monday (October 21, 2024). The Nifty dipped 72.95 points or 0.29% to 24,781.10.

Published - October 22, 2024 04:19 pm IST