Image Source : FILE Bombay Stock Exchange building.
The BSE Sensex, after reaching a new all-time high of 81,587.76 in early trading, tumbled 738.81 points or 0.91%, to settle at 80,604.65. During the day, it had plummeted by as much as 844.36 points or 1.03% to 80,499.10. This decline came a day after the Sensex breached the 81,000 mark for the first time. Similarly, the NSE Nifty dropped 269.95 points or 1.09%, ending at 24,530.90 after peaking at 24,854.80 in the opening session. During the day, it declined by 292.7 points or 1.18% to 24,508.15.
Major losers and gainers
Among the biggest losers on the Sensex were Tata Steel and JSW Steel, both falling over 5%. Other significant laggards included Tata Motors, NTPC, UltraTech Cement, Tech Mahindra, Bajaj Finance, Power Grid, Mahindra & Mahindra, and Reliance Industries.
Infosys, on the other hand, bucked the trend, climbing nearly 2% after reporting a 7% rise in consolidated net profit to Rs 6,368 crore in the April-June quarter and raising its growth outlook for the current financial year. ITC, Asian Paints, and HCL Technologies also posted gains.
Global market impact
Asian markets showed mixed results, with Seoul, Tokyo, and Hong Kong ending lower while Shanghai closed in the green. European markets traded lower, and the US markets closed in negative territory on Thursday.
Additional factors
Global oil benchmark Brent crude fell 0.07% to USD 85.05 a barrel. Despite the market decline, Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Thursday.
Previous day’s performance
On Thursday, the BSE Sensex had jumped 626.91 points or 0.78% to a fresh closing high of 81,343.46, while the broader Nifty climbed 187.85 points or 0.76% to settle at an all-time closing high of 24,800.85.
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