Sensex plunges by 585 points, IT and pharma stocks suffer
Video Credit: ANI - Duration: 01:17s - Published
Sensex plunges by 585 points, IT and pharma stocks suffer
Equity benchmark indices crashed by over 1 per cent on Thursday with broad-based selling across counters triggered by a spike in bond yields impacting inflows by foreign institutional investors.
Market experts said a sharp rise in crude oil prices and its impact on inflation remain major concerns.
The BSE SandP Sensex closed 585 points or 1.17 per cent lower at 49,217 while the Nifty 50 edged lower by 163 points or 1.11 per cent to 14,558.
Except for Nifty metal and FMCG which rose marginally, all other sectoral indices at the National Stock Exchange were in the negative zone.
Nifty IT cracked by 3 per cent while pharma downed by 2.2 per cent, PSU bank by 1.7 per cent and private bank by 1.2 per cent.
Among stocks, HCL Technologies fell by 3.5 per cent to close at Rs 953.15 per share.
As the trading session commenced on April 19th, both the Sensex and the Nifty continued their downward trend for the fifth consecutive day, fueled by reports of Israel's recent missile launch on Iran. This event triggered a surge in oil and gold prices, heightening concerns about the global economy. Concurrently, the commencement of Lok Sabha elections added to the domestic landscape. The Indian rupee also opened at a historic low of 83.55 per Dollar.
#Market, #Sensex, #Nifty, #IranIsraelConflict, #StockMarket
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Market pressure persisted for the third consecutive session as key indices, including Sensex, Nifty, and Nifty Bank, witnessed notable declines. The midcap index closed in the red despite performing relatively better. Geopolitical tensions between Iran and Israel contributed to the market downturn. US stock futures dipped after major benchmarks suffered losses, while European and Asia-Pacific markets also experienced significant drops.
#Business #Businessnews #StockExchange #IranIsrael #Businessimpact #Sensex #Nifty #Gold #Businessupdates #Economy #Indianews #Oneindia #OneindiaNews
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BSE Sensex ended 254.03 points or 0.50% higher at 51,279.51; NSE Nifty rose 76.40 points or 0.51% to... Hindu - Published Also reported by •IndiaTimes •newKerala.com
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