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MARKET WRAP: Sensex slumps 470 pts, Nifty ends at 10,705; YES Bank dips 16%
All that happened in markets today.
Equities continued to slide on Thursday due to the absence of any positive triggers.
The S&P BSE Sensex lost 470 points or 1.29 per cent to settle at 36,093.47, with YES Bank (down 16 per cent) being the biggest laggard and Tata Motors (up 2 per cent) the top gainer. During the session, the index hit an intra-day high and low of 36,613.93 and 35,987.80, respectively. Only 4 out of 30 constituents ended in the green while the rest 26 declined.
Reliance Industries (RIL), ICICI Bank, TCS, HDFC and Infosys contributed the most to the Sensex's fall.
In the broader market, the S&P BSE MidCap index dipped 154 points or 1.15 per cent to 13,285 levels, and the S&P BSE SmallCap index closed at 12,703.27, down 191 points or 1.48 per cent.
ON NSE, the broader Nifty50 index settled at 10,705, down 136 points or 1.25 per cent.
Volatility index India VIX surged nearly 2 per cent to settle at 15.60 levels.
Sectorally, all the sectoral indices on the NSE ended in the red. Media stocks bled the most - 4.41 per cent to 1,786 levels, followed by PSU banks and metal stocks.
Asian shares turned lower on Thursday after the US Federal Reserve cut interest rates as expected but signalled a higher bar to further policy easings. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.36 per cent. Hong Kong shares shed 0.96 per cent, but Japan’s Nikkei rose 1.01 per cent.
US stock futures fell 0.23 per cent in Asia on Thursday. The S&P 500 reversed losses to end 0.03% higher after Powell said he did not see an imminent recession or think the Fed will adopt negative rates.
(With inputs from Reuters)