Market Closing: Sensex down 372-pts, Nifty is below 17,800

The BSE Sensex fell 372 points on Thursday, reflecting losses in index heavyweights L&T, Infosys, and TCS, amid a global market downturn. The selling pressure was widespread, as all 15 sector indicators compiled by the National Stock Exchange ended lower, led by the Nifty Auto index, which fell about 3%.

The BSE Sensex finished 372.32 points or 0.62 percent lower at 59,636.01. The NSE Nifty also declined 133.85 points, or 0.75 percent, to 17,764.80. With a loss of almost 3 percent, Mahindra and Mahindra led the Sensex pack, followed by Tech Mahindra, L&T, HCL Tech, Tata Steel, and IndusInd Bank.  On the other hand, State Bank of India, PowerGrid, HDFC Bank, Reliance Industries, and Hindustan Unilever, were among the gainers.

Paytm's stock dropped as much as 27 percent in a shaky stock market debut on Thursday, just one week after the country's largest-ever IPO. On the NSE, the stock opened for trading at Rs. 1,950, down 9.3 percent or Rs. 200 from its issue price of Rs. 2,150. Paytm's stock continued to fall after it opened, falling as much as 27 percent from its issue price to an intraday low of Rs. 1,564.

Meanwhile, Brent crude, the international oil standard, slid 0.90 percent to $81.69 per barrel.

Paytm's initial public offering (IPO) priced at Rs 2,150 per share

FM Nirmala Sitharaman asks industry to start taking risks

Fitch maintains India's sovereign rating of BBB- with negative outlook

 

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