- MUMBAI — Benchmark BSE Sensex dropped by 271 points on Monday, marking the
second straight day of losses due to selling in IT and banking stocks and a
weak trend in global markets after rating downgrade of the US by Moody's Ratings.
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- The 30-share BSE barometer declined 271.17 points or 0.33
per cent to settle at 82,059.42. During the day, it dropped 366.02 points or
0.44 per cent to a low of 81,964.57.
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- The NSE Nifty dipped 74.35 points or 0.30 per cent to
24,945.45.
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- Among Sensex firms, Eternal, Infosys, Tata Consultancy
Services, Tech Mahindra, Reliance Industries, Asian Paints, HCL Tech and Adani
Ports were the laggards.
Also read: Indian stock markets soar over 4 pc in best weekly performance since Oct 2024
- Power Grid, Bajaj Finance, NTPC, State Bank of India and
IndusInd Bank were among the gainers.
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- Among sectors, realty, pharma, and auto shares advanced
while IT declined by over a percent.
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- "Markets languished in negative territory for major
part of the trading session as weak Asian and European indices resulted in
investors resorting to profit-taking in IT, capital goods and oil & gas
shares," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
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- Also Moody's downgrading US credit rating by a notch over
the weekend created some sort of uncertainty amongst investors, Tapse added.
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- "Indian equity markets extended their losses for a
second consecutive day on Monday, dragged down by a combination of weak global
cues, sharp selling in IT stocks, and rising volatility," Gaurav Garg,
Analyst, Lemonn Markets Desk, said.
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- Investor sentiment took a hit after Moody’s downgraded
the US sovereign credit rating to 'Aa1', citing the nation’s surging USD 36
trillion debt, he said.
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- "Global markets echoed this nervousness. Asian and
European equities traded mostly lower..." Garg added.
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- The broader market witnessed a mixed performance as the
BSE smallcap gauge climbed 0.75 per cent and midcap index ended up by 0.27 per
cent.
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- Among sectoral indices, BSE Focused IT declined 1.33 per
cent, IT (1.23 per cent), teck (1.07 per cent), oil & gas (0.32 per cent),
telecommunication (0.24 per cent) and capital goods (0.16 per cent).
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- Realty jumped 2.22 per cent, healthcare (0.58 per cent),
utilities (0.42 per cent), auto (0.41 per cent), power (0.36 per cent) and
financial services (0.32 per cent).
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- Among Asian markets, South Korea's Kospi, Japan's Nikkei
225 index and Hong Kong's Hang Seng settled lower while Shanghai's SSE
Composite index ended higher.
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- European markets were trading lower. US markets ended in
positive territory on Friday.
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- Global oil benchmark Brent crude dipped 0.41 per cent to
USD 65.14 a barrel.
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- Foreign Institutional Investors (FIIs) bought equities
worth INR 8,831.05 crore on Friday, according to exchange data.
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- On Friday, the Sensex declined 200.15 points or 0.24 per
cent to settle at 82,330.59. The Nifty dropped 42.30 points or 0.17 per cent to
25,019.80.
