Sensex Falls 460 Points to 73,249; Nifty Ends at 22,688
Image: Wikimedia Commons
The Sensex closed 460.30 points, or 0.62 per cent, lower at 73,249.39 on Thursday, 22 October, and the Nifty 50 ended 123.70 points, or 0.54 per cent, down at 22,687.65, according to closing data reported by Business Standard and Upstox. It was the third straight session of losses for the Nifty. Crude oil above $110 a barrel and a sharp sell-off across Asian markets pulled shares down on the BSE and the NSE.
Nestle, Eternal and Reliance Lead the Fall
Among Nifty stocks, Nestle India lost 2.78 per cent, Eternal 2.53 per cent, HDFC Life 2.09 per cent, Tata Motors Passenger Vehicles 2.07 per cent and Reliance Industries 2.03 per cent, Upstox data showed. Bajaj Finance gained 1.74 per cent, Cipla 1.29 per cent and UltraTech Cement 1 per cent.
Nifty Media fell 2.34 per cent, Nifty FMCG 1.74 per cent and Nifty IT 1.31 per cent, India Infoline reported. Declining shares outnumbered advancing ones by 2,670 to 1,323 on the NSE.
Midcap and Smallcap Funds Feel It Harder
The Nifty Midcap 100 dropped 0.87 per cent to 57,063.95 and the Nifty Smallcap 100 fell 1.14 per cent to 18,275.90. For people who hold midcap or smallcap mutual funds through SIPs, the day’s loss was therefore deeper than the headline indices suggest.
Brent crude rose after reports of an attack on a Saudi oilfield, Business Standard reported. India imports most of its oil, so a higher price raises fuel and input costs and puts pressure on the rupee. South Korea’s Kospi fell 3.1 per cent and Japan’s Nikkei 2.05 per cent, India Infoline said.
Jio IPO Closes on 23 October
The Rs 30,213 crore Jio Platforms IPO was subscribed about 4.3 times by 2:12 PM on its second day, with qualified institutional buyers at 9.78 times and retail investors at 1.39 times, according to Business Standard. Bidding closes on Friday. Markets reopen on 23 October; analyst Ajit Mishra of Religare Broking sees support at 22,200 to 22,400 and resistance near 22,900. IPB’s report on Wednesday’s 143-point fall has the earlier backdrop.
Source: Based on reporting by Business Standard, India Infoline and Upstox.
Image: Wikimedia Commons.
