Sensex, Nifty tumble nearly 1% on unabated foreign fund outflows; TCS earnings in focus
The Hindu
Sensex and Nifty drop 1% due to heavy selling, foreign capital outflows, and global economic concerns on January 9.
Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Thursday (January 9, 2025) due to heavy selling in market heavyweights HDFC Bank, TCS and Reliance as investors turned nervous over earnings growth concerns amid unabated foreign capital outflows.
Besides, abysmally low Chinese inflation data, an indication of poor demand, and a sell-off in US bonds added to the pressure, traders said.
TCS is kick-starting the December quarter results calendar on Thursday.
Falling for the second straight day, the 30-share benchmark dropped 528.28 points or 0.68% to sink below the 78,000 level at 77,620.21. During the day, it tanked 605.57 points or 0.77 per cent to 77,542.92.
The NSE Nifty slumped 162.45 points or 0.69% to 23,526.50.
From the 30-share Sensex blue-chip pack, Tata Steel, Zomato, Larsen & Toubro, Tata Motors, Adani Ports, Tata Consultancy Services, HDFC Bank and NTPC were the major laggards.
Nestle, Hindustan Unilever, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints and Bharti Airtel were among the gainers.
India's trade data revised, showing significant drop in import bill, particularly in gold imports, sparking concerns among economists.
Congress calls for radical action in upcoming Union budget to address GDP growth slowdown and investment chill in India.
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Equity indices end lower amid volatile session, subdued sentiment due to lower economic growth projections and global cues.
In the domestic equity market, the 30-share BSE Sensex skid 50.62 points, or 0.06%, to settle at 78,148.49 points, while the Nifty fell 18.95 points, or 0.08%, to 23,688.95 points.
ONGC selects BP as Technical Service Provider for Mumbai High field, aiming to enhance production and recovery.
Equity indices Sensex and Nifty drop amid foreign fund outflows, cautious investors, and weak global markets on January 8.
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China's lithium reserves surge, becoming world's second-largest holder, with new mines and salt lakes discovered.
Rupee hits record low against dollar due to strengthening American currency, higher crude oil prices, and subdued domestic markets.