Sensex Drops 400 Points: Market Rally Snaps
By Rediff Money Desk, Mumbai Sep 11, 2024 15:58
Indian equity markets fell on Wednesday, with the Sensex dropping over 400 points, driven by selling pressure in Tata Motors and Reliance Industries. Asian markets also showed weakness.
![Sensex Drops 400 Points: Market Rally Snaps](https://im.rediff.com/money/2024/jul/23stock-market.gif)
Illustration: Dominic Xavier/Rediff.com
Mumbai, Sep 11 (PTI) Equity benchmark indices Sensex and Nifty declined on Wednesday after two days of gains, tracking heavy selling pressure in index majors Tata Motors and Reliance Industries amid weak trends in Asian markets.
In a volatile trade, the 30-share BSE Sensex dropped 398.13 points or 0.49 per cent to settle at 81,523.16. During the day, it tanked 498.15 points or 0.60 per cent to 81,423.14.
The NSE Nifty declined 122.65 points or 0.49 per cent to 24,918.45.
Among the 30 Sensex firms, Tata Motors was the biggest loser, tumbling nearly 6 per cent, followed by NTPC, Adani Ports, Larsen & Toubro, State Bank of India, JSW Steel, Mahindra & Mahindra, IndusInd Bank and Titan.
In contrast, Asian Paints, Bajaj Finance, Hindustan Unilever and Bajaj Finserv were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower.
European markets were trading mostly in the green. The US markets ended mostly with gains on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,208.23 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 1.49 per cent to USD 70.22 a barrel.
On Tuesday, the BSE benchmark climbed 361.75 points or 0.44 per cent to settle at 81,921.29. The NSE Nifty surged 104.70 points or 0.42 per cent to 25,041.10.
In a volatile trade, the 30-share BSE Sensex dropped 398.13 points or 0.49 per cent to settle at 81,523.16. During the day, it tanked 498.15 points or 0.60 per cent to 81,423.14.
The NSE Nifty declined 122.65 points or 0.49 per cent to 24,918.45.
Among the 30 Sensex firms, Tata Motors was the biggest loser, tumbling nearly 6 per cent, followed by NTPC, Adani Ports, Larsen & Toubro, State Bank of India, JSW Steel, Mahindra & Mahindra, IndusInd Bank and Titan.
In contrast, Asian Paints, Bajaj Finance, Hindustan Unilever and Bajaj Finserv were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower.
European markets were trading mostly in the green. The US markets ended mostly with gains on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,208.23 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 1.49 per cent to USD 70.22 a barrel.
On Tuesday, the BSE benchmark climbed 361.75 points or 0.44 per cent to settle at 81,921.29. The NSE Nifty surged 104.70 points or 0.42 per cent to 25,041.10.
Source: PTI
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
- Vodafone Idea L
- 13.53 (+ 2.97)
- 43341950
- GTL Infrastructure
- 2.58 ( -1.15)
- 30948547
- Suzlon Energy Ltd.
- 81.64 ( -0.38)
- 27607750
- Rajnish Wellness
- 3.34 ( -3.19)
- 24697355
- Srestha Finvest
- 1.81 (+ 0.56)
- 22617692
MORE NEWS
![SBI Sanctions Rs...](https://im.rediff.com/80-80/money/2024/sep/04sbi.jpg)
SBI Sanctions Rs 10,050 Cr Loan for DVC Thermal...
SBI has sanctioned Rs 10,050 crore for Damodar Valley Corporation's 1,600 MW Ultra...
Western Carriers IPO: Rs 148 Cr Raised from...
Western Carriers, a leading logistics firm, raised Rs 148 crore from anchor investors...
![Festive Season...](https://im.rediff.com/80-80/money/2016/apr/05shop7.jpg)
Festive Season Online Shopping: Spend Up 50% -...
A new survey reveals 50% of shoppers plan to spend more online this festive season,...