Stock market update: Sensex nosedives below 200 and Nifty loses over 50 points
The domestic stock market on Thursday began its business on a lower note amid negative global cues. The Sensex traded at 33,783.07, down 250.89 points or 0.74 percent. The broader Nifty traded at 10,153.35, down 71.40 points or 0.70 percent.
All the sectoral indices were trading in red. Prominent losers in the Sensex pack were Adani Ports, Vedanta, ICICI Bank, Wipro, Infosys and Bharti Airtel. Top laggards on the Nifty pack were IndiaBulls Housing Finance, Bharti Airtel, Yes Bank, Induslnd Bank and Hindalco
According to a report by NDTV, in the global market, Asian shares dived on Thursday as hundreds of billions of dollars haemorrhaged from global markets after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year.
While oil prices slipped amid concerns over global growth. Brent crude fell 69 cents to $75.48 a barrel. US crude dropped 54 cents to $66.28.
On Wednesday, stock markets closed in the green. The Sensex rose 186 points to regain the 34,000 mark, which it had lost for the first time in past six months the previous day. NSE benchmark index Nifty settled 77 points higher at 10,224.