Indian shares ended deep in the red on Thursday due to weak global cues and on eve of monthly F&O expiry.
Global sentiment was fragile after U.S. bond yields spiked for a second day on Wednesday, in part due to a weak debt auction and amid continued uncertainty about the Federal Reserve’s interest-rate path.
Middle East worries also sapped investors’ appetite for risk after an Israeli official cautioned that the war in Gaza might persist until the year’s end to achieve the aim of destroying the Palestinian group.
Closer home, investors looked ahead to the exit poll results for Lok Sabha Elections, which will be out after last phase of polling on June 1. The actual election results are set to be announced on June 4.
The benchmark S&P BSE Sensex fell 617.30 points, or 0.83 percent, to 73,885.60 amid a widespread sell-off.
The broader Nifty 50 index closed at 22,488.65, down 216.05 points, or 0.95 percent, from its previous close.
Tata Steel slumped 5.2 percent after Q4 net profit declined 64 percent, missing Street estimates.
Wipro, Bajaj FinServ, Grasim and Tech Mahindra all fell around 3 percent while banks HDFC Bank, SBI, Axis Bank and ICICI Bank rose between 0.7 percent and 1.5 percent.
Sensex, Nifty End Deep In Red On Eve Of F&O Expiry; Banks Surge
2024-05-30 10:31:50
