Sensex, Nifty extend losses into 3rd session on surging crude prices, FII outflows
The Hindu
Equity indices Sensex and Nifty decline amid global economic concerns, volatile trade, and surging crude oil prices.
Equity benchmark indices Sensex and Nifty nursed losses for the third consecutive session on Friday (January 10, 2025), in lockstep with a weak trend in global equities as concerns over economic growth and a slowdown in quarterly earnings sapped investors’ risk appetite.
Surging crude oil prices and a strengthening dollar index also contributed to the weak trend in equities.
In a volatile trade, the 30-share BSE benchmark Sensex declined 241.30 points or 0.31% to settle at 77,378.91. During the day, the benchmark gyrated 820.15 points between the day’s high of 77,919.70 and a low of 77,099.55.
The NSE Nifty dropped 95 points or 0.40% to 23,431.50.
From the 30-share blue-chip pack, IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, State Bank of India, Tata Steel, Power Grid, Adani Ports and Kotak Mahindra Bank were among the major laggards.
Tata Consultancy Services jumped nearly 6% after the IT services company reported an 11.95% jump in the December quarter net profit to ₹12,380 crore.
Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
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