Amid geopolitical tensions, Sensex tumbles 900 points; falls for 6th continuous day
Mumbai: The stock market continued to decline for the sixth consecutive session, the benchmark Sensex witnessed a massive drop of around 900 points, crossing the 64,000 level.
This downturn was triggered by a widespread sell-off driven by escalated tensions in the Middle East.
Alongside subdued performance in global markets, substantial declines in auto, financial, and energy sectors, coupled with increased selling by foreign investors, contributed to the negative sentiment, a report in the media aid, citing analysts' assessments.
The 30-share BSE Sensex recorded a sharp decline of 900.91 points or 1.41 percent, concluding below the 64,000 threshold at 63,148.15, said the report.
At its lowest point during the day, it plummeted by 956.08 points or 1.49 percent, reaching 63,092.98, said the report.
The Nifty experienced a sharp decline of 264.90 points or 1.39 percent, closing at 18,857.25.
Since October 17, the BSE benchmark has seen a substantial drop of 3,279.94 points or 4.93 percent, while the Nifty decreased by 954.25 points or 4.81 percent, the report said.
Among the Sensex constituents, Mahindra & Mahindra recorded the most significant loss, falling by 4.06 percent. This was followed by a slump in Bajaj Finserv, Asian Paints, Nestle, JSW Steel, Titan, HDFC Bank, Tech Mahindra, Tata Motors, and Larsen & Toubro, it added.
In contrast, Axis Bank, ITC, HCL Technologies, NTPC, and IndusInd Bank saw gains.
Across Asian markets, Seoul, Tokyo, and Hong Kong closed lower, while Shanghai ended in positive territory.
European markets were trading with notable losses, and the US markets closed in negative territory on Wednesday.
The global oil benchmark, Brent crude, saw a 0.65 percent decline, reaching USD 89.54 per barrel, the report said.
Foreign Institutional Investors (FIIs) sold off equities worth Rs 4,236.60 crore on Wednesday, according to exchange data, according to the report.
The BSE benchmark dropped 522.82 points or 0.81 percent, settling at 64,049.06 on Wednesday. The Nifty fell 159.60 points or 0.83 percent, closing at 19,122.15.
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