Sensex tumbles nearly 1,200 points to slip below 80k; Nifty drops 360 points as heavyweights drag

Sensex and Nifty plummet 1.50% due to intense selling in market heavyweights Infosys, RIL, and HDFC Bank.

Equity benchmark indices Sensex and Nifty surrendered early gains to plunge nearly 1.50% on Thursday (November 28, 2024), weighed down by intense selling in market heavyweights Infosys, RIL, and HDFC Bank amid a mixed trend in global equities.

The Bombay Stock Exchange (BSE) benchmark Sensex slumped 1,190.34 points, or 1.48%, to settle at 79,043.74. During the day, it tanked 1,315.16 points, or 1.63% to 78,918.92.

The National Stock Exchange (NSE) Nifty tumbled 360.75 points, or 1.49%, to 23,914.15.

"Domestic markets took a breather after a strong start to the week. The overnight sell-off in the US market, driven by renewed uncertainty about the rate cut trajectory and rising geopolitical tension, led to a correction in heavyweight IT and consumer discretionary stocks," Vinod Nair, Head of Research, Geojit Financial Services, said.

From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards.

On the other hand, the State Bank of India was the only gainer.

In Asian markets, Seoul and Tokyo settled in the green, while Shanghai and Hong Kong ended lower.