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Nifty: Sensex tanks with over 800 points in early deals.A nifty sink is less than 17,300

Mumbai: Equity benchmark Senssex plummeted by more than 800 points in early Friday trading. This was due to the high overall sales amid the negative trends in the global market and the unabated outflow of foreign funds.
The 30-share index was trading at 57,984.80, down 810.29 points (down 1.38%). Similarly, Nifty plunged 245.15 points or 1.40 percent to 17,291.10.
Multi was the top loser in the Senssex Pack, just below 3%, followed by Bajaj Finserve, Kotak Bank, HDFC, Bajaj Finance and Tata Steel.
Meanwhile, Dr. Reddies and Sun Pharma have increased in price.
In the previous session, Sensex ended at 58,795.09, up 454.10 points or 0.78 percent, and Nifty ended at 17,536.25, up 121.20 points or 0.70 percent.
Foreign institutional investors (FII) were net selling in the capital markets as they offloaded stocks worth R3,300.65 on Thursday, according to exchange data.
According to VK Vijayakumar, chief investment strategist at Geojit Financial Services, a 6% surge in stocks with Nifty weights above 10% will cause the index to rise significantly. This happened on Thursday, with Nifty rising 121 points due to the RIL surge.
“But this upward trend is unlikely to continue and could easily reverse as market headwinds increase,” he said.
He said the new headwind is the latest variant of the virus detected in South Africa, Botswana and Hong Kong. “This is a big sentimental negative for the market, along with a continuous sale by FII for the seventh straight day,” he said.
In other parts of Asia, stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo fell to 2.68% in trading during the session.
The US stock exchange ended almost positive in an overnight session.
Meanwhile, Brent crude, the international oil benchmark, fell 2.02% to $ 80.56 a barrel.



Nifty: Sensex tanks with over 800 points in early deals.A nifty sink is less than 17,300

Source link Nifty: Sensex tanks with over 800 points in early deals.A nifty sink is less than 17,300

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