Indian shares tumbled on Thursday, mirroring weak global cues and a surge in Treasury yields after the Federal Reserve indicated that it plans to begin raising interest rates “soon” and that the process of balance sheet reduction will commence after it has begun raising rates.
The benchmark 30-share BSE Sensex fell 910 points, or 1.6 percent, to 56,948 while the broader NSE Nifty index was down 268 points, or 1.6 percent, at 17,010.
Tech Mahindra, JSW Steel, HCL Technologies, Titan Company and Tata Steel lost 3-4 percent while Maruti Suzuki India, ONGC and Cipla rose 1-2 percent.
BPCL dropped 1.4 percent after it unveiled plans to invest Rs 10,000 crore over the next five years in six new city gas networks.
Vedanta fell 1.5 percent on news it will announce the contours of a proposal to spin off key businesses into separate listed companies by March-end.
Raymond rallied 2.4 percent on reporting a multifold rise in its Q3 net profit.
Indiabulls Real Estate slumped 7 percent after posting disappointing quarterly results.
Sensex, Nifty Follow Global Peers Lower
2022-01-27 04:34:07
