Key Benchmark indices BSE Sensex and NSE Nifty cracked more than 1 percent on Wednesday, January 25, 2023, due to heavy selling in IT, financial and oil stocks amid mixed global trends.
The 30-share Sensex plunged by 773.69 points or 1.27 per cent to 60,205.06 as 22 of its scrips slipped while 8 advanced. The index opened lower and later fell by nearly 900 points during the day to touch a low of 60,081.36. Nifty of the NSE declined sharply by 226.35 points or 1.25 per cent to close below the 18,000 level at 17,891.95.
Among the Sensex stocks, the biggest losers included SBI, IndusInd Bank, HDFC Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Ultratech Cement, L&T, Bajaj Finserv, Reliance, HCL Tech, Asian Paints, Wipro, and M&M. On the other hand, Hindustan Unilever advanced the most by 1.14 per cent. Maruti, Tata Steel, NTPC and Sun Pharma also posted gains.
International Markets: European markets were likewise uneven, with stock indices falling in France and Germany and rising by 0.1% in Britain. In anticipation of a Chinese economic resurgence this year, Asian shares touched their best levels in seven months on Wednesday after some regional markets reopened following the holiday. On Wednesday, European stocks were muted as investors considered recent corporate earnings.
Crude Oil: The benchmark for international oil prices, Brent crude, fell 0.31 percent to USD 85.86 a barrel.
According to exchange data, foreign institutional investors (FIIs) sold shares worth 760.51 crore on Tuesday, making them net sellers in the capital market.
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