Market

Sensex tanks 626 points, Nifty slides below 11,400

New Delhi: Markets opened with deep cuts on Friday in tandem with global stocks.

The BSE Sensex tanked 625.93 points or 1.61 percent to 38,365.01 in early trade while the NSE Nifty fell 173.05 points or 1.50 percent to 11,354.40.

All the indices in the Sensex pack were trading in the red. Banking and financials took hard hit with ICICI Bank being the top loser, falling upto 3.07 percent. Others included SBI, IndusInd Bank, Kotak Bank, Axis Bank and Tata Steel, falling upto 3.03 percent.

Asia`s stock markets had their worst session in two weeks on Friday following a tech-led plunge on Wall Street, a Reuters report said. MSCI`s broadest index of Asia-Pacific shares outside Japan fell 1.6% and looked set for a 2.4% weekly loss, its biggest since April. Japan`s Nikkei dropped 1%, Hong Kong`s Hang Seng fell 1.8% and Australia`s ASX 200 2.8%.

Thursday`s tumble was the biggest one-day percentage drop on the tech-focused Nasdaq 100 since March and the darling stocks of recent months were hit hardest. Apple fell 8%, Tesla 9% and Microsoft 6%, Reuters added.

In the previous session on Thursday the BSE Sensex ended 95.09 points or 0.24 per cent lower at 38,990.94; while the NSE Nifty closed 7.55 points or 0.07 per cent down at 11,527.45.

Related posts
Market

Nikkei Closes Above 33,000 For The First Time In 33 Years

Japan’s benchmark Nikkei gauge surged on Tuesday, closing over 33,000 for the first time in 33…
Read more
Market

Carlsberg Expects Lower Beer Consumption To Hit 2023 Growth

Danish brewer Carlsberg (OTC:CABGY) on Tuesday forecast organic operating profit growth in 2023…
Read more
Market

Flavour Maker Givaudan Beats Earnings Forecasts in a Tough Year

Swiss fragrance and flavour maker Givaudan on Wednesday reported better-than-expected earnings for a…
Read more
Newsletter
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you. [mc4wp_form id="729"]

Leave a Reply

Your email address will not be published. Required fields are marked *