Sunday, December 5, 2021
Home Business Sensex slumps 1170 points to settle at 58,466; Nifty down 348 points...

Sensex slumps 1170 points to settle at 58,466; Nifty down 348 points to 17,417


Equity benchmark Sensex plummeted 1,170 points on Monday, dragged by losses in Reliance Industries, Bajaj Finance and Kotak Bank.

The 30-share BSE index ended 1,170.12 points or 1.96 per cent lower at 58,465.89.

Similarly, the NSE Nifty fell 348.25 points or 1.96 per cent to 17,416.55.

Among top losers, Reliance Industries (RIL) sank over 4 per cent, after the company shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for an asking of USD 15 billion.

Other laggards included Bajaj Finance, Bajaj Finserv, NTPC, SBI and Titan.

On the other hand, Bharti Airtel, Asian Paints, PowerGrid and IndusInd Bank were the gainers.

“Finally the bears got their act together after a long wait as a series of events over the weekend gave them the upper hand with almost all the sectoral indices barring the metal index plunging,” said S Ranganathan, Head of Research at LKP Securities.

The repealing of the agriculture laws had an impact on the PSU stocks while the O2C deal not going through left a 4.5 per cent cut on Reliance, he noted.

Further, he said that even as IPO investors come to terms with the reality, the inflationary impact on demand across several sectors continues to worry the street.

Elsewhere in Asia, bourses in Hong Kong ended with losses, while Tokyo, Shanghai and Seoul were positive.

Stock exchanges in Europe were largely positive in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.34 per cent to USD 79.16 per barrel.



Source link

RELATED ARTICLES

Avail free benefits of up to ₹7 lakh under EPFO’s Deposit Linked Insurance Scheme: All you need to know

Account holders are eligible for assured life insurance benefits, without having to pay any premium. The Employee Provident Fund (EPF), besides being a trusted...

Salesmen Threaten To Disrupt Supplies Over Reliance Monopoly

<!-- -->Salespersons across the country have threatened to disrupt supplies to provision storesHousehold goods salesmen in India have threatened to disrupt supplies to...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -stock market course

Most Popular

Mob vandalises Assam Rifles camp, Konyak Union office in Nagaland’s Mon | India News – Times of India

KOHIMA: An angry mob allegedly vandalised an Assam Rifles camp and the office of the Konyak Union in Nagaland's Mon district on Sunday...

Sunny Deol: I want to do four-five films a year like Akshay Kumar and Ajay Devgn – Times of India

Sunny Deol recently started shooting for Gadar 2 with director Anil Sharma and actress Ameesha Patel. The film went on floors in the...

Manchester City coach Pep Guardiola set for toughest part of season

Manchester City head coach Pep Guardiola believes the next period of the season will be the toughest.With seven matches between Sunday and New...

Strange things happening over North Pole! NASA rocket launched to solve mystery

https://tech.hindustantimes.com/tech/news/strange-things-happening-over-north-pole-nasa-rocket-launched-to-solve-mystery-71638707091790.html Strange things happening over ... https://tech.hindustantimes.com/tech/news/a-new-microsoft-teams-feature-will-provide-this-key-info-on-members-71638681415669.html A new Microsoft Teams feature will ... https://tech.hindustantimes.com/tech/news/facebook-outage-social-network-down-for-3-hours-downdetector-shows-71638677753986.html Facebook outage! Social network ... https://tech.hindustantimes.com/tech/news/whatsapp-update-now-sticker-store-is-on-whatsapp-web-too-71638676795265.html WhatsApp Update! Now sticker store ... /* window.addEventListener('load', (event) =>...

Recent Comments

%d bloggers like this: