Sensex Drops Over 300 Points, Nifty Below 18,100; Metal, PSU Banks Worst Hit
NDTV
ICICI Bank, HDFC, Infosys, Axis Bank, Titan, ITC and Tata Steel were among the biggest drags on the Sensex.
The Indian equity benchmarks edged lower on Thursday ahead of the monthly expiry of October futures and option contracts amid weak cues from global markets. ICICI Bank, HDFC, Infosys, Axis Bank, Titan, ITC and Tata Steel were among the biggest drags on the Sensex. The Sensex fell as much as 266 points and Nifty 50 index touched an intraday low of 18,127.85. Global stocks eased from record peaks as a stark reminder of supply chain snags in corporate earnings reports stalled their rally, while investors also looked to whether central banks may consider tightening monetary policy earlier than thought.
MSCI's gauge of world stocks, ACWI, dipped 0.05 per cent in early Thursday trade, with Japan's Nikkei leading the loss with fall of 1.1 per cent.
Mainland Chinese shares slipped 0.2 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.1 per cent.
On Wall Street overnight, the S&P 500 lost 0.51 per cent from all-time high hit on Tuesday though the Nasdaq ended little changed, thanks to strong earnings from Microsoft and Google parent Alphabet.
