Bears run amok on D-Avenue

Mumbai, January 27

The BSE benchmark Sensex crashed 938 points to slip below the 47,500-mark and the NSE Nifty plunged below the psychological 14,000-level due to rampant selling across counters amid foreign fund outflow.

Marking its fourth straight session of loss, the Sensex tumbled 937.66 points or 1.94% to settle at 47,409.93 – taking the aggregate four-session loss to 2,382.19 points or 4.78%. Intraday, the BSE gauge swung 1,117.65 points.

TCS 3rd most-valued IT brand globally

  • Tata Consultancy Services (TCS) has been ranked third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance
  • Four Indian IT services companies — TCS, Infosys, HCL and Wipro — secured spots in the top-10 global tally

Likewise, the NSE Nifty plunged 271.40 points or 1.91% to close the session at 13,967.50. Over the last four sessions, the 50-share index has lost 677.20 points or 4.62%.

On the Sensex chart, 24 shares closed in the red and six in the green. Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr Reddy’s, HDFC and Asian Paint were major losers, shedding up to 4.05%.

On the other hand, Tech Mahindra, ITC, PowerGrid, UltraTech Cement, HCL Tech and Nestle India rose up to 2.57%. Of the 19 sectoral indices, barring FMCG index all ended with losses.

Among the major losers were banking (2.93%), finance (2.72%), metal (2.54), realty (2.28) and auto (2.11%). Broader smallcap, midcap and largecap indices fell as much as 1.87%.

Analysts said investors of late have preferred taking profits off the table ahead of the Union Budget and futures and options (F&O) expiry.

Foreign institutional investors (FIIs) sold equities worth Rs 765.30 crore on a net basis in the Indian capital market on Monday, exchange data showed. — PTI

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