New Delhi: The key Indian equity benchmarks extended their fifth straight session fall on Tuesday, with indices plunging the most since April last year in intra-day deals. All Sensex components ended in the red.
Investors worldwide were spooked by the uncertainty around the quantum of a rate hike by the US Fed led to panic selling, while geo-political tensions between Russia and Ukraine, rising dollar index, and surging oil prices and bond yield added to the bloodbath.
The 30-share BSE Sensex crashed 1,546 points to close at 57,492, while the broader NSE Nifty settled 468 points lower at 17,149. Both the domestic indexes have tumbled around 6 per cent.
Besides, persistent foreign capital outflows continued to affect the market sentiment, traders said.
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Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red.
Bajaj Finance was the top loser, shedding around 6 per cent, followed by Tata Steel, Bajaj Finance, Wipro, Tech Mahindra, Titan, Reliance Industries, and HCL Tech.
“Indian markets opened negative following mixed Asian market peers as investors look ahead to US Fed meeting and rising geopolitical uncertainty. During the afternoon session, they further sold off as indices fell well below psychologically crucial levels. The broader indices too capitulated to selling pressure and were trading with heavy losses of around 3 per cent each. Sentiments were so fragile that traders paid no heed toward RBI’s data showing that the country’s foreign exchange reserves grew by $2.229 billion to $634.965 billion in the week ended January 14,” said Narendra Solanki, head-equity research (Fundamental), Anand Rathi Shares & Stock Brokers, according to PTI.
Elsewhere in Asia, bourses in Hong Kong and Seoul ended with losses, while Tokyo and Shanghai were positive. Equities in Europe were witnessing intense selling pressure in mid-session deals.
Meanwhile, the international oil benchmark Brent crude rose 0.32 per cent to $88.17 per barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 3,148.58 crore on Friday, according to stock exchange data.
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