Sensex tanks 500 points to close at 65,240, Nifty near 19,400

Sensex tanks 500 points to close at 65,245, Nifty near 19,400

Updated on: Aug 3, 2023, 16:00:41 IST

By HT News Desk

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Benchmark indices Sensex and Nifty closed lower for a third straight day on Thursday in tandem with a bearish trend in global markets and continuous foreign fund outflows.

Sensex tanks 500 points to close at 65,245, Nifty near 19,400

Losses in ICICI Bank and HDFC Bank also added to the ongoing weak trend in the benchmark indices.

The 30-share BSE Sensex fell by 542.10 points or 0.82 per cent to settle at 65,240.68. During the day, it slumped 819.7 points or 1.24 per cent to 64,963.08.

The NSE Nifty declined 144.90 points or 0.74 per cent to end at 19,381.65.

From the Sensex pack, Titan fell by over 2 per cent after the company reported a 4.3 per cent drop in consolidated net profit at ₹756 crore for the June quarter.

Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards.

Infosys, JSW Steel, NTPC and Power Grid were the gainers.

In Asian markets, Seoul, Tokyo and Hong Kong ended in the negative territory while Shanghai settled in the green. European markets were trading in the red.

The US markets ended lower on Wednesday after Fitch Ratings cut the US government credit rating by one level.

Foreign institutional investors (FIIs) offloaded equities worth ₹1,877.84 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude dipped 0.46 per cent to USD 82.82 a barrel.

Meanwhile, India's services sector growth touched a 13-year high in July as a substantial improvement in demand conditions and pick-up in international sales induced the strongest increase in new business and output, a monthly survey said on Thursday.

The BSE benchmark tumbled 676.53 points or 1.02 per cent to settle at 65,782.78 on Wednesday. The Nifty fell by 207 points or 1.05 per cent to end at 19,526.55.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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