Sensex today | Stock Market Highlights: Dalal Street hit by crude fire, US yield surge, Nifty closes 1.64% lower at 23,063, Sensex lost 1,247 points
Sensex, Nifty, Share Prices Highlights: Indian equity markets witnessed sharp selling pressure on Thursday as rising US bond yields, renewed strength in crude oil prices and persistent geopolitical uncertainty weighed heavily on investor sentiment.
The Sensex and Nifty both closed lower on Thursday, with the Sensex losing 1,247 points and the Nifty 50 dropping 383 points. This decline came after crude oil prices surged back to around $106 per barrel, following a drop to about $98 per barrel the previous day. Additionally, the US 10-year Treasury yield rose to approximately 5.11%, raising concerns about inflation, borrowing costs, and the pace of global monetary easing.
Across various sectoral indices on the NSE, most showed negative results, with a significant drop in auto, metal, and private banking stocks. The Nifty Auto index fell by 1.46%, Nifty FMCG declined by 1.18%, Nifty IT lost 0.67%, Nifty Media fell 0.75%, and Nifty Metal declined 1.99%. Nifty Pharma slipped by 0.46%, and Nifty PSU Bank dropped by 1.21%.
Nifty Private Bank experienced the steepest decline, losing more than 2%. In the foreign exchange market, the rupee opened at 95.84 and dropped to 95.96 against the US dollar, marking a 23-paise decline from its previous closing level.
Markets experienced a sharp sell-off on Thursday, primarily driven by banking and financial stocks. The Sensex crashed by 1,247.71 points or 1.67%, closing at 73,580.54, while the Nifty 50 slumped by 383.70 points or 1.64%, ending at 23,063.10. The rupee faced a one-week low as a rise in oil prices and limited progress in U.S.-Iran talks heightened concerns that inflation might prompt further global rate hikes.
Filatex India acquired an additional 2,00,00,000 equity shares of Ecosis Limited, marking a notable milestone for the National Stock Exchange.
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