Positive cues from global markets and sustained buying in select heavyweight stocks contributed to the early gains. Key sectors including IT, financials, and energy showed strength, bolstering overall market sentiment.
Indian stock markets are on a strong upward trajectory, with the Nifty hitting a record high of 22,297 points and the Sensex crossing 73,200 points. Various sectors, including auto, IT, banks, pharmaceuticals, and metals, are witnessing positive trends.
The primary factor contributing to the dip was the significant fall in information technology (IT) stocks, reflecting a broader slide in global markets.
The 30-share BSE Sensex tanked 1,093.22 points or 1.82 per cent to settle at 58,840.79. During the day, it tumbled 1,246.84 points or 2 per cent to 58,687.17. The NSE Nifty declined 346.55 points or 1.94 per cent to close at 17,530.85.
From the Sensex pack, Maruti, ICICI Bank, NTPC, Larsen & Toubro, Kotak Mahindra Bank, and Mahindra & Mahindra were the major gainers in the initial trade.
The BSE Sensex fell 770.48 points or 1.29 percent to settle at 58,766.59. During the day, it tanked 1,014.5 points or 1.70 percent to 58,522.57. Similarly, the NSE Nifty declined 216.50 points or 1.22 percent to close at 17,542.80.
The 30-share BSE Sensex settled 150.48 points or 0.28 per cent lower at 53,026.97 as 20 of its stocks ended with losses. The broader NSE Nifty declined by 51.10 points or 0.32 per cent to 15,799.10 with 34 of its constituents closing in the red.
The Commerce Ministry had recently stated that the country's export of agricultural and allied products in 2020-21 grew by 17.34 per cent to USD 41.25 billion, and this growth momentum is expected to be sustained in the current fiscal as well.
Indian markets were not alone in today's bloodshed. All the major Asian stock markets - Nikkei, Hang Seng, Shaghai, Taipei, Seoul and Singapore - edged-lower following an overnight downward correction in Dow Jones by over 1,100 points.
After a drastic plunge following Donald Trump’s ‘shock win’ in the US presidential elections, the Indian stock market today rebound sharply on the back of positive global cues and a stable rupee.
Equity markets plunged on Wednesday while the Mexican peso hit a record low over fears of economic impact given Trump’s strong anti-immigrant stand.
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