Sensex Tanks Over 600 Points, Nifty Trades Below 17,600; IT, Financial Stocks Top Drags
NDTV
The Indian equity benchmarks on Thursday plunged sharply in late deals, pausing a three-day winning run amid weak global cues.
New Delhi: The Indian equity benchmarks on Thursday plunged sharply in late deals, pausing a three-day winning run amid weak global cues. As of 1:55 pm, the benchmark BSE Sensex tanked 632 points or 1.06 per cent to 58,926, while the broader NSE Nifty moved 185 points or 1.04 per cent lower to 17,595.
Asian shares were mostly weak as Japan's Nikkei index plunged 1.11 per cent and the Shanghai Composite index fell 0.97 per cent. U.S. stock futures were lower after Facebook owner Meta Platforms Inc's shares plunged more than 20 per cent in overnight post-market trade after missing earnings estimates.
Back home, Mid- and small-cap shares were in the negative zone as Nifty Midcap 100 index was down 0.56 per cent and small-cap shares were trading 0.09 per cent lower.
Traders were also concerned after a poll by IHS Markit revealed that India's services sector growth fell to a six-month low in January, owing to constraints imposed by the Omicron wave of Covid-19 infections and rising pricing, said Gaurav Garg, Head of Research, Capitalvia Global Research Ltd.
