Sensex dive 1,159 points; Nifty ends at 17,857: the key factor behind falls – News2IN
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Sensex dive 1,159 points; Nifty ends at 17,857: the key factor behind falls

Sensex dive 1,159 points; Nifty ends at 17,857: the key factor behind falls
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New Delhi: The equity index fell for the second consecutive session on Thursday with BSE Sensex benchmarks fell more than 1,000 points amid broad-based sales throughout the sector.
The 30-share BSE index fell 1,159 points or 1.89 percent to close at 59,985; While the wider NSE settled 354 points or 1.94 percent lower at 17,857.
The top loser in the sensex package including ITC, ICICI Bank, Bank Box, Axis Bank and Titan with their shares fell as much as 5.54 percent.
While Indusind Bank, L & T, Ultra Cemco and Asia paint is the main enhancer up to 2.94 percent.
On the NSE platform, all the red sub-index finished with the PSU bank fell by 5.22 percent.
The NSE Realty index fell 3.77 percent, metal dropped 3.44 percent and the NSE Bank index dropped 3.34 percent.
The following are the main factors that dragged lower markets: * Metals, banks, realty led lossuals all sectoral indices are completed in losses in the midst of selling by investors.
Banking, metal and realty stock suffered maximum losses.
Meanwhile, Bank PSU was a major loser that fell almost 5 percent, the financial services index also fell more than 2.5 percent.
“There are some excitement in terms of assessment in certain pockets of the market.
In some bags, there is still money to be made, who will see some Sectoral Churn,” Saurabh Jain, Vice President Assistant at SMC Securities told Reuters news agency.
Among bank shares, the Punjab National Bank (PNB) declined by almost 11 percent after the company reported a decline in income for the second quarter which ended on September 30.
The state-owned bank reported an increase in net profit of 785 percent to Rs 1,105.
Crore for the second quarter ended September 30 despite a decrease in income.
* The calm global CUE of Asian stocks fell amid fears that the recovery of the pandemic would slow down due to an increase in the power of more stringent inflation.
The ongoing concern about the broad property sector in China and the future of Giant Developers Evergrande also looked in front of the payment deadline, while uncertainty over the social expenditure plan Joe Biden also maintained the central sentiment.
The US stock market also ended in negative records in the overnight session.
The US Treasury yields dropped to two weeks because traders considered the results of positive companies and resurrection on US-Chinese tensions that could influence the supply chain concern.
“Equity benchmarks make negative early on tracking tracking Thursday in global colleagues.
The market quickly extends their losses and is now traded lower, with every market losing more than half percent in early trade,” Senior Analyst at Capitalvia Global Research Likhita Chepa to the IANS news agency.
* Copper, aluminum prices carry downcopper metal indices and aluminum prices reach multi-month lows to relieve supply issues, attracting a nifty metal index of 3.4 percent.
“Chip lacks and supply chain problems have an impact on the manufacturing sector, which has caused lower metal demand.
Also, there is a slowdown in the Chinese real estate market.
These two macro factors weigh metal stock,” Jain added.
* The port of Adani trimmed Port Adani slumped 7 percent after saying it would come out of his Myanmar investment.
The company left the plan to build a container terminal in Myanmar, weeks after filing a US license for the project, said it believed it did not violate sanctions.
* Morgan Stanley decreases Indian equity, Stanley decreases Indian equity with weight from being overweight on Thursday due to expensive assessments, and say it expects the market to consolidate in front of “Short-Term Headwinds”.
This downgrade follows a movement similar to Nomura and UBS through expensive assessments.
Indian shares greatly outperformed other emerging markets this year, with MSCI India indexing 27.53 percent, compared with 0.65 percent slip in the MSCI market index emerged.
* F & O expirybott index BSE and NSE cracks ahead of the monthly derivative expiration for October.
(With input from the agency)

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