Sensex, Nifty decline on unabated foreign fund outflows, selling in IT stocks
The Hindu
BSE Sensex and NSE Nifty fall for second day due to IT stock losses and foreign fund outflows.
Benchmark equity indices Sensex and Nifty fell for the second day on Thursday dragged down by losses in IT stocks and relentless foreign fund outflows.
Falling for the second day in a row, the BSE Sensex tumbled 553.12 points or 0.69% to settle at 79,389.06. During the day, it slumped 654.25 points or 0.81% to 79,287.93.
The NSE Nifty fell by 135.50 points or 0.56% to 24,205.35.
From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.
In contrast, Larsen & Toubro jumped over 6% after the infrastructure major posted a 5% rise in consolidated profit after tax to ₹3,395 crore in the September 2024 quarter on account of higher income.
Mahindra & Mahindra, Power Grid, JSW Steel, Kotak Mahindra Bank, HDFC Bank and Sun Pharma were also among the gainers.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth ₹4,613.65 crore, according to exchange data.
