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Stock markets continue to end lower for fourth straight session amid outflow of foreign funds

The 30-share BSE Sensex declined 454.69 points to settle at 72,488.99. Meanwhile, the NSE Nifty declined 152.05 points to 21,995.85.

Edited By: Anurag Roushan @Candid_Tilaiyan Mumbai Updated on: April 18, 2024 19:04 IST
Stock markets, share markets, Sensex, Nifty
Image Source : INDIA TV Stock markets update -- April 18.

Equity benchmark indices Sensex and Nifty extended their losing streak to the fourth straight session and settled lower on Thursday amid heavy volatility triggered by selling in banking stocks and unabated outflow of foreign funds. Fading expectations of an immediate interest rate cut by the US Federal Reserve as well as escalating geopolitical tensions also dampened investors' sentiment.

The 30-share BSE Sensex declined abruptly post-noon, reflecting heavy fluctuations, wiping out all its early gains. It tanked 454.69 points or 0.62 per cent to settle at 72,488.99. During the day, it gyrated 1,107.38 points between the day's high and low. The benchmark quoted 73,135.5 at 1:31 PM but within two minutes it declined to 72,817.03 at 13.34 hours, reflecting a drop of 318.47 points.

The NSE Nifty declined 152.05 points or 0.69 per cent to 21,995.85. It hit a high of 22,326.50 and a low of 21,961.70 during the day.

From the Sensex basket, Nestle declined the most by over 3 per cent amid reports that the global FMCG major sold infant milk products with more sugar content in less developed countries. In the broader market, the BSE midcap gauge declined 0.39 per cent while the smallcap index went up marginally by 0.06 per cent.

How did Asian and European markets fare? 

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled in the positive territory. European markets were trading mostly with gains. Wall Street ended lower on Wednesday. Global oil benchmark Brent crude declined 0.63 per cent to USD 86.74 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,260.33 crore on Thursday, according to exchange data.

Rupee against dollar 

Meanwhile, the rupee rebounded from its all-time low levels and appreciated 6 paise to close at 83.55 (provisional) against the US dollar on Thursday, as the American currency and brent crude oil prices retreated from their elevated levels.

At the interbank foreign exchange market, the local unit opened at 83.51 against the greenback. The unit hit an intra-day high of 83.49. The domestic unit finally settled at 83.55 (provisional) against the dollar, 6 paise higher from its previous close.

(With PTI inputs)

ALSO READ: Stock market witnesses surge as Sensex crosses 73,100, Nifty above 22,200


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