The benchmark indices ended sharply lower as selling pressure intensified amid profit-booking in IT and financials on Thursday.
The 30 share BSE index ended 770 points lower at 58,788. The broader NSE Nifty ended up 219.8 points at 17,560. The companies that will announce their December quarter earnings are Tata Steel and Paytm.
The benchmark indices opened flat amid mixed global cues. The 30 share BSE index was trading 51 points higher at 58,839. It was trading 51 points higher at 09: 16 hours. The NSE Nifty was up 30 points to 17,590, and the broader NSE Nifty was up 30 points. ITC had a boost of over 2 per cent, followed by Power Grid, UltraTech Cement, Dr Reddy, Tata Steel and HDFC Bank.
Infosys and TCS were among the top losers.
Wall Street snapped a four-session winning streak on Thursday, with all three benchmarks ending lower after Facebook-owned Meta Platforms' dour forecast sent its stock plummeting and halted a nascent recovery based on upbeat earnings from another big tech.
The Dow Jones Industrial Average fell 518.17 points, or 1.45 percent, to 35,111. The S&P 500 lost 111.94 points, or 2.44 percent, to 4,477 on 16 September. 44 and the Nasdaq Composite fell 538.73 points, or 3.74 percent, to 13,878. In Asia, the Nikkei Weighted Index was down 0.03 per cent and Hang Seng was trading 2.41 per cent higher. Shanghai Composite was down 0.97 per cent.
On Thursday, the rupee fell 5 paise to close at 74.88 provisional against the U.S. dollar, which was weighed down by the strength of the American currency and muted domestic equities.
The local unit was dragged down by higher crude oil prices, according to traders.
The rupee opened against the American dollar at 74.84 and later saw an intra-day high of 74.75 and a low of 74.92 against the dollar at the interbank foreign exchange.
The local unit ended up at 74.88, down 5 paise from the previous close of 74.83.
Foreign institutional investors FIIs sold shares worth 1,597. On February 3, domestic institutional investors DIIs bought shares worth Rs 370.58 crore, as per provisional data available on the NSE.
The Indian equity market is likely to open on a flat note, as the SGX Nifty was up 28 points at 17,585 at 8: 30 am.
Singapore Nifty SGX Nifty is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.
The benchmark indices ended sharply lower as selling pressure intensified amid profit-booking in IT and financials on Thursday. The 30 share BSE index ended 770 points lower at 58,788. The NSE Nifty ended up with 219.8 points at 17,560, as opposed to the broader NSE Nifty. ITC was the top gainer in the Sensex pack ahead of the Q 3 show. Maruti Suzuki, Asian Paints, SBI and Titan were the other top gainers.
In contrast, HDFC was the top laggard in the Sensex pack, shedding over 3 per cent, followed by Infosys, L&T, Kotak Bank, Bajaj Finserv and Tech Mahindra.