Indian shares tumbled on Tuesday, with sentiment dented by weak September quarter earnings, stretched valuations and heavy selling by foreign investors.
Weak global cues also weighed on markets as traders grappled with heightened tensions in the Middle East and uncertainty over the U.S. election outcome that’s less than two weeks away.
The benchmark S&P/BSE Sensex plummeted 930.55 points, or 1.15 percent, to 80,220.72 while the broader NSE Nifty index closed at 24,472.10, down 309 points, or 1.25 percent, from its previous close.
The mid-cap and small-cap indexes on the BSE ended down 2.5 percent and 3.8 percent, respectively.
SBI, Adani Enterprises, Coal India, Mahindra & Mahindra and BEL slumped 3-4 percent in the Nifty pack while ICICI Bank rose 0.7 percent. Shares of Infosys and Nestle India ended little changed with a positive bias.
Shares of Hyundai Motor India, the country’s second-largest carmaker, declined 4.6 percent on debut.
Market Analysis
Sensex Plunges 930 Points; Nifty Dips Below 24,500
2024-10-22 10:32:06
