Amid global market weakness, indices tumble over 1%
Benchmark indices tumbled over 1% on Thursday marking their fourth consecutive session of decline. The decline came amid global market weakness weighing heavily on investor sentiment.
Taking a cue from global markets, the key Indian equity market indices on Thursday opened lower ahead of futures and options (F&O) expiry.
The Sensitive Index (Sensex) of the BSE, which had closed at 33,844.86 points on Wednesday, opened lower at 33,817.09 points.
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Minutes into trading, it was quoting at 33,726.79 points, down by 118.07 points, or 0.35 per cent.
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At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,397.45 points on Wednesday, was quoting at 10,341.60 points, down by 55.85 points or 0.54 per cent.
On Wednesday, bargain hunting by investors lifted the key Indian equity indices ahead of the F&O expiry, snapping a three-day losing streak.
According to market observers, healthy buying in IT, technology, media and entertainment and banking stocks added to the upward trajectory of the benchmark indices.
The Sensex was up by 141.27 points or 0.42 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 33,911.36 points and a low of 33,702.50 points.
The Nifty too, was up by 37.05 points or 0.36 per cent.
On Thursday, Asian indices were mostly showing a negative trend.
Japan’s Nikkei 225 was trading in red, down by 0.91 per cent, Hang Seng down by 0.97 per cent while South Korea’s Kospi was also down by 0.49 per cent.
China’s Shanghai Composite index was the only quoting in green, up by 1.91 per cent.
Nasdaq closed in red, down by 0.22 per cent while FTSE 100 was up by 0.48 per cent at the closing on Wednesday.
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