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Sensex falls 199 points, Nifty below 22,050 amid global weakness, profit booking in IT stocks

The BSE Sensex was down 199.17 points at 73,128.77, while the Nifty fell by 65.15 points to 22,032.30.

Edited By: Akshit Tyagi New Delhi Updated on: January 16, 2024 15:59 IST
Image Source : PTI (FILE) BSE building

The BSE Sensex ended Tuesday's trading session 199.17 points lower at 73,128.77, while the Nifty setlled 65.15 points lower at 22,032.30.

Bajaj Finance, HDFC Bank, JSW Steel, Tata Steel, Asian Paints, and Tata Motors experienced gains, while HCLTech, Wipro, Tech M, NTPC, TCS, and Infosys were among the losers. The BSE Midcap and Smallcap indices both saw a 0.3 per cent decrease.

Investors are eagerly awaiting the Q3 results of HDFC Bank, scheduled to be announced later today.

Global markets 

In the Asian market, equities declined on Tuesday, following the downturn in European stocks and bonds, where European Central Bank officials tempered expectations of rapid rate cuts.

Australian and Japanese shares faced losses, and contracts for US equities showed a slight decrease after a holiday on Monday. In the first trading session since Friday, Treasury bonds saw a decline, and Australian and New Zealand sovereign bonds also joined the selloff.

European stock markets started trading with a slide as hopes for early interest rate cuts this year dwindled and tensions escalated in the Middle East.

Oil prices saw a slight increase as traders monitored geopolitical tensions in the Middle East. The US instructed commercial ships to avoid the Red Sea after missile strikes by Houthi militants.

READ MORE: Stock markets updates: Sensex, Nifty open marginally lower a day after hitting record high

READ MORE: Sensex surges by 759 points to cross 73,000 mark, Nifty rises 202 points to 22,097


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