January 25, 2022

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Sensex falls 621 points amid weak global cues

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Sensex falls 621 points amid weak global cues
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Sensex falls 621 points amid weak global cues
Sensex falls 621 points amid weak global cues

NEW DELHI: Equity indices snapped four session winning run on Thursday with the benchmark BSE sensex falling over 600 points dragged by IT and realty stocks amid weak global cues.
The 30-share BSE index fell 621 points or 1.03 per cent to close at 59,602. While the broader NSE Nifty settles 179 points or 1 per cent lower at 17,746.
Top losers inn the sensex pack included Ultra Cemco, Tech Mahindra, Reliance, HCL Tech and HDFC with their shares falling as much as 2.56 per cent.
While, IndusInd Bank, Bharti Airtel, Maruti and Titan were the major winners rising up to 1.74 per cent.
On the NSE platform, sub-indices Nifty IT, Realty, Financial Services fell as much as 1.55 per cent.
“Bulls were a bit restrained on the back of rising Covid cases and its impact on the fourth quarter corporate performance since it happens to be an important quarter for India Inc. The IT, and oil and gas index led the fall today with cement stocks too witnessing profit taking,” said S. Ranganathan, head of research at LKP securities told news agency Reuters.
Global stocks and Wall Street futures tumbled after investors saw minutes from a Federal Reserve meeting as a sign the US central bank might hike interest rates faster to cool inflation.
As per the US Fed minutes from its December 14-15 policy meeting, policymakers believe the US job market is healthy enough and ultra-low interest rates are no longer needed.
“…quicker than previously anticipated rate hike from the US Fed could witness outflows from the domestic markets and could weigh on sentiments,” Reliance Securities said in a research note.
Following a massive sell-off in the US markets, bourses in Shanghai, Seoul and Tokyo ended with significant losses. Hong Kong closed in the green.
Stock exchanges in Europe also witnessed intense selling pressure in mid-session deals.
Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital market, as they bought shares worth Rs 336.83 crore on Wednesday, according to stock exchange data.
(With inputs from agencies)

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