NEW DELHI: Equity indices plunged on Thursday after surging for three straight sessions with the benchmark BSE sensex falling over 750 points amid profit booking by investors.
The 30-share BSE index fell 770 points or 1.29 per cent to close at 58,788. While, the broader NSE Nifty settled 220 points or 1.24 per cent lower at 17,560.
HDFC, Infosys, L&T, Kotak Bank, Bajaj Finserv and Tech Mahindra were the major losers on the sensex pack falling as much as 3.41 per cent.
On the NSE platform, sub-indices Nifty IT, Realty and Financial Services fell up to 2.05 per cent.
Meanwhile, the Nifty Auto index, meanwhile, climbed 0.44 per cent, led by strong gains in top carmaker Maruti Suzuki and two-wheeler makers TVS Motor and Hero MotoCorp.
Both sensex and Nifty had climbed about 4 per cent each over the last three sessions, with most of the gains coming after the budget where the government announced higher spending to recharge the pandemic-hit economy.
“The market had been supported by the growth-orient budget, but we now have to really see what is happening globally. Until the dust settles around interest rates, volatility will stay,” Aishvarya Dadheech, a fund manager at Ambit Asset Management told news agency Reuters.
India’s services sector activity moderated further in January as new business rose at a noticeably slower rate amid the escalation of the pandemic, reintroduction of restrictions and inflationary pressures, a monthly survey said on Thursday.
Foreign institutional investors (FIIs) remained net sellers in the capital market, offloading shares worth Rs 183.60 crore on Wednesday, according to stock exchange data.
(With inputs from agencies)
The 30-share BSE index fell 770 points or 1.29 per cent to close at 58,788. While, the broader NSE Nifty settled 220 points or 1.24 per cent lower at 17,560.
HDFC, Infosys, L&T, Kotak Bank, Bajaj Finserv and Tech Mahindra were the major losers on the sensex pack falling as much as 3.41 per cent.
On the NSE platform, sub-indices Nifty IT, Realty and Financial Services fell up to 2.05 per cent.
Meanwhile, the Nifty Auto index, meanwhile, climbed 0.44 per cent, led by strong gains in top carmaker Maruti Suzuki and two-wheeler makers TVS Motor and Hero MotoCorp.
Both sensex and Nifty had climbed about 4 per cent each over the last three sessions, with most of the gains coming after the budget where the government announced higher spending to recharge the pandemic-hit economy.
“The market had been supported by the growth-orient budget, but we now have to really see what is happening globally. Until the dust settles around interest rates, volatility will stay,” Aishvarya Dadheech, a fund manager at Ambit Asset Management told news agency Reuters.
India’s services sector activity moderated further in January as new business rose at a noticeably slower rate amid the escalation of the pandemic, reintroduction of restrictions and inflationary pressures, a monthly survey said on Thursday.
Foreign institutional investors (FIIs) remained net sellers in the capital market, offloading shares worth Rs 183.60 crore on Wednesday, according to stock exchange data.
(With inputs from agencies)
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