The Sensex fell 678.90 points, or 0.92 per cent, to 73,030.79 in the morning trade on Thursday.
Equity benchmark indices Sensex and Nifty declined in early trade on Thursday, dragged down by selling in power and metal stocks amid a broad sell-off across Asian markets. Elevated crude oil prices and firm US bond yields also weighed on investors’ sentiment.
The 30-share BSE Sensex plunged 678.90 points, or 0.92 per cent, to 73,030.79 in the morning trade. The 50-share NSE Nifty declined 250.90 points, or 1.10 per cent.
PowerGrid, Bharat Electronics Ltd, Maruti Suzuki India and Tata Steel were among the major Sensex laggards.
Eternal, however, rose over 2 per cent after the parent entity of Zomato and Blinkit reported on Wednesday a consolidated net profit of Rs 125 crore for the September quarter, nearly doubling from Rs 65 crore a year ago, on robust revenue growth.
Asian markets were sharply lower, with South Korea’s Kospi declining 3.12 per cent and Hong Kong’s Hang Seng benchmark falling 3 per cent. Brent crude, the global oil benchmark, rose nearly 2 per cent to USD 110.68 per barrel.
“The broader market resilience in recent months has been more a function of liquidity than earnings,” said V K Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd.
Source: DD News
