Sensex down 571 pts, Nifty below 19,750 on hawkish Fed, Indo-Canada tension
Closing Bell on Thursday, September 21: The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent
SI Reporter New Delhi
Stock market highlights: Equity markets reeled under selling pressure for a second straight day on Thursday, the day of weekly F&O expiry as well, after the US Federal Reserve's tighter policy through 2024 spooked investors. Besides, escalating diplomatic tensions between India and Canada also dampened sentiment.
The S&P BSE Sensex sank 571 points, or 0.85 per cent, to end at 66,230, while the Nifty50 shut shop at 19,742, down 159 points or 0.8 per cent.
The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent. This was followed by up to 1.7 per cent sell-off in Nifty Auto, Bank, Financial Services, and Realty indices.
Among individual stocks, M&M, ICICI Bank, Cipla, State Bank of India, Hero MotoCorp, Bajaj Auto, IndusInd Bank, Tata Motors, Bajaj Finserv, Kotak Bank, Grasim, LTIMindtree, HCL Tech, Power Grid, ITC, NTPC were the large-cap losers, down up to 3 per cent.
In the broader markets, Greenlam Industries, DB Realty, Transformers and Rectifiers India, Punjab and Sind Bank, SJVN, Uco Bank, NHPC, Glenmark Pharma, JSW Energy, and IRFC tumbled in the range of 3 per cent to 13 per cent.
Overall, the BSE MidCap and SmallCap indices fell 1 per cent each.
The market breadth was negative with over 2,300 declining stocks on the BSE as against 1,300 advancing stocks. The m-cap of all BSE listed companies is down to Rs 318 trillion from a peak of Rs 324 trillion last week.
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Topics : Stock Market MARKET LIVE MARKET WRAP Markets Sensex Nifty S&P BSE Sensex Gift Nifty Nifty 50 stock market trading Stock movemnet Indian equity markets Indian stock markets Indian stock exchanges US Federal Reserve
First Published: Sep 21 2023 | 07:14 AM IST