India Stock Market: IndusInd Bank Drags Sensex Down, FIIs Sell | PTI
By Rediff Money Desk, Mumbai Oct 25, 2024 10:05
Indian stock markets fell on Friday, led by a sharp decline in IndusInd Bank shares and persistent foreign fund outflows. The Sensex closed lower, while the Nifty also declined.
Mumbai, Oct 25 (PTI) Stock markets gave up early gains and were trading lower on Friday amid sharp fall in IndusInd Bank shares and relentless foreign fund outflows.
The BSE Sensex climbed 130.56 points to 80,195.72 in early trade. The NSE Nifty went up by 36.9 points to 24,436.30.
However, the selling pressure soon dragged both the indices down. The BSE benchmark traded 197.47 points lower at 79,875.03 and the Nifty quoted with a cut of 89.20 points at 24,310.20.
From the 30 Sensex pack, IndusInd Bank plunged 15 per cent after the firm reported a 40 per cent decline in September quarter net profit at Rs 1,331 crore, pulled down majorly by concerns on asset quality.
NTPC, Mahindra & Mahindra, Larsen & Toubro, Tata Steel, and JSW Steel were also among the laggards.
From the blue-chip pack, ITC jumped over 3 per cent after the diversified entity reported an 1.8 per cent increase in its consolidated net profit to Rs 5,054.43 crore in the second quarter ended September 2024. ITC's revenue from operations jumped 15.62 per cent to Rs 22,281.89 crore during the July-September period.
Axis Bank, Asian Paints, HCL Technologies, ICICI Bank and Kotak Mahindra Bank were the other big gainers.
In Asian markets, Seoul, Shanghai and Hong Kong traded higher while Tokyo quoted lower.
The US markets ended mostly higher on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,062.45 crore on Thursday, according to exchange data, while Domestic Institutional Investors (DIIs) bought Rs 3,620.47 crore shares.
Global oil benchmark Brent crude climbed 0.24 per cent to USD 74.56 a barrel.
In an uninspiring trade, the BSE benchmark dipped 16.82 points or 0.02 per cent to settle at 80,065.16 on Thursday. The Nifty skidded 36.10 points or 0.15 per cent to 24,399.40 in a volatile trade.
The BSE Sensex climbed 130.56 points to 80,195.72 in early trade. The NSE Nifty went up by 36.9 points to 24,436.30.
However, the selling pressure soon dragged both the indices down. The BSE benchmark traded 197.47 points lower at 79,875.03 and the Nifty quoted with a cut of 89.20 points at 24,310.20.
From the 30 Sensex pack, IndusInd Bank plunged 15 per cent after the firm reported a 40 per cent decline in September quarter net profit at Rs 1,331 crore, pulled down majorly by concerns on asset quality.
NTPC, Mahindra & Mahindra, Larsen & Toubro, Tata Steel, and JSW Steel were also among the laggards.
From the blue-chip pack, ITC jumped over 3 per cent after the diversified entity reported an 1.8 per cent increase in its consolidated net profit to Rs 5,054.43 crore in the second quarter ended September 2024. ITC's revenue from operations jumped 15.62 per cent to Rs 22,281.89 crore during the July-September period.
Axis Bank, Asian Paints, HCL Technologies, ICICI Bank and Kotak Mahindra Bank were the other big gainers.
In Asian markets, Seoul, Shanghai and Hong Kong traded higher while Tokyo quoted lower.
The US markets ended mostly higher on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,062.45 crore on Thursday, according to exchange data, while Domestic Institutional Investors (DIIs) bought Rs 3,620.47 crore shares.
Global oil benchmark Brent crude climbed 0.24 per cent to USD 74.56 a barrel.
In an uninspiring trade, the BSE benchmark dipped 16.82 points or 0.02 per cent to settle at 80,065.16 on Thursday. The Nifty skidded 36.10 points or 0.15 per cent to 24,399.40 in a volatile trade.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Thinkink Picturez
- 1.94 (+ 4.86)
- 69820171
- Rajnish Wellness
- 1.78 (+ 4.09)
- 54627483
- G G Engineering
- 1.80 (+ 1.12)
- 53423097
- GTL Infrastructure
- 2.32 ( 0.00)
- 34510899
- Vodafone Idea L
- 8.10 ( -0.25)
- 34418651
MORE NEWS
Brookfield India REIT Raises Rs 3,500 Cr via QIP
Brookfield India REIT launches a Qualified Institutional Placement (QIP) issue to raise...
Rajasthan Tourism Potential: Inclusive...
Union minister Gajendra Singh Shekhawat highlights Rajasthan's tourism potential,...
India Airlines: 809 Hoax Bomb Threats in 5 Years
Airlines in India faced 809 hoax bomb threats in the last five years, with a surge in...