Indian shares tumbled on Thursday amid weak global cues as investors awaited the U.S. GDP data later in the day along with the outcome of the Federal Reserve meeting next week for clues on the outlook for rates against the backdrop of rising inflation.
The monthly derivative contracts expiry also weighed on markets. The benchmark 30-share S&P BSE Sensex plunged 1,158.63 points, or 1.89 percent, to 59,984.70.
The broader NSE Nifty index settled at 17,857.25, down 353.70 points, or 1.94 percent, from its previous close.
Adani Ports and Special Economic Zone shares lost 7.4 percent after the company said it would exit the company’s investment in Myanmar by June 2022.
ITC tumbled 5.6 percent despite the company reporting a 14 percent year-on-year rise in Q2 net profit.
ONGC slumped 4.4 percent as oil extended losses from the previous session on signs of large inventory builds in the United States and amid news that Iran would resume nuclear talks with world powers before the end of next month.
On the positive side, Asian Paints, UltraTech, Larsen & Toubro and IndusInd Bank rose between 1.1 percent and 2.6 percent.
Market Analysis
Sensex Slumps Over 1,100 Points; Nifty Dips Below 17,900
2021-10-28 10:58:02
