Sensex sinks 486 issues to near at 52,569; Nifty ends underneath 15,750 – Instances of India

Sensex sinks 486 issues to near at 52,569; Nifty ends underneath 15,750 – Instances of India

NEW DELHI: Equity indices plunged on Thursday with the benchmark BSE sensex falling over 450 points, dragged by metal, banking and financial stocks.
The 30-share BSE index fell 486 points or 0.92 per cent to close at 52,569; while the broader NSE Nifty settled 152 points or 0.96 per cent lower at 15,728.
Tata Steel, Sun Pharma, Dr Reddy’s, ICICI Bank, SBI and Kotak Bank were the major laggards in the sensex pack falling as much as 2.3 per cent.
Whereas Tech Mahindra, Bajaj Auto, PowerGrid, NTPC and IndusInd Bank were the top gainers rising up to 1.44 per cent.
On the NSE platform, sub-indices Nifty Metal, PSU Bank, Bank and Financial Services fell as much as 2.19 per cent.
According to experts, investors are now eyeing the first quarter earnings season, with Tata Consultancy Services (TCS) set to report its result today.
“With earnings season kicking in, markets might get a sense of direction since most positive triggers had already been factored in,” Gaurav Garg, head of research at CapitalVia Global Research told news agency Reuters.
“IT companies are expected to announce robust earnings but we might see some correction if there are any shortfalls in their results as expectations from the sector are very high,” he added.
Besides, banking shares took a hit after the Reserve Bank of India (RBI) fined 14 banks — including SBI, Bank of Baroda, IndusInd Bank — on Wednesday for contravention of various regulatory norms, including on lending to NBFCs.
Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 532.94 crore on Wednesday, as per provisional exchange data.
(With inputs from agencies)

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