Markets go into tailspin in early trade; Sensex dives over 980 points


PTI, May 6, 2022, 10:13 AM IST

Equity benchmark indices went into a tailspin in early trade on Friday, with the Sensex tumbling over 980 points to fall below the 55,000-mark, tracking extremely weak global markets.

The 30-share BSE benchmark dived 980.45 points to 54,721.78 in early trade. The NSE Nifty also declined 300.15 points to 16,382.50.

All the Sensex pack firms were trading in the red, with Bajaj Finance, HCL Technologies, Bajaj Finserv, Maruti Suzuki India, Wipro, Axis Bank, Tata Steel and Infosys emerging as the major laggards in early trade.

Elsewhere in Asia, markets in Hong Kong, Shanghai and Korea were trading significantly lower, while Tokyo quoted marginally higher.

Stock exchanges in the US had fallen sharply in the overnight trade on Thursday.

“US markets witnessed a relief rally on Wednesday after FOMC meeting but it tumbled on Thursday due to more anxiety over rising interest rates. Asian markets are trading in the red in early Friday trade,” said Mohit Nigam, Head – PMS, Hem Securities.

On Thursday, the BSE benchmark closed just 33.20 points or 0.06 per cent higher at 55,702.23. Similarly, the NSE Nifty inched up 5.05 points or 0.03 per cent to 16,682.65.

Meanwhile, international oil benchmark Brent crude jumped 0.45 per cent to USD 111.40 per barrel.

Foreign institutional investors again offloaded shares worth Rs 2,074.74 crore on Thursday, according to stock exchange data.

“While intra-day volatility will continue, markets will keep an eye on Reliance Industries’ earnings scheduled to be announced later today. With most of the negative factors in play, FII selling has once again picked up, as overseas investors sold shares worth Rs 2,074.74 crore on Thursday,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

Sexual harassment case cannot be closed on basis of compromise between parties: SC

MLC Ivan D’Souza defends CM Siddaramaiah’s Lokayukta appearance, criticizes BJP’s ‘Drama’ claims

Ranji Trophy: Shreyas Iyer’s majestic 233 puts Mumbai in complete command against Odisha

Related Articles More

Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision

SC orders liquidation of grounded air carrier Jet Airways’ assets

Home-cooked meals become dearer in October on costlier vegetables

Sensex, Nifty surge over 1 pc on heavy buying in IT stocks as Trump set to win US polls

Das says incoming data on GDP growth mixed but positives outweigh negatives

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Felling of trees: What is being done to restore Delhi Ridge? SC asks DDA

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.