Bloodbath in the domestic equity markets continued for the second consecutive session on Thursday, with the BSE Sensex slumping 953 points to an intra-day low of 35,022.12 points and the Nifty slipping below the 10,600-level. The Indian stock market indices closed at four-month lows as macro concerns like a weak rupee, widening current account deficit, negative global cues, rising crude oil prices and capital outflows continued to weigh heavy on investors’ risk-taking appetite.
On Thursday, the BSE Sensex plunged 806.47 points or 2.24% to close at 35,169.16 points. The NSE Nifty closed 259 points or 2.39% lower at 10,599.25 points. The Bank Nifty tanked 1% to close at 24,819.30 points. The Indian rupee slumped to a fresh record low of 73.8175 per US dollar intra-day.
Mukesh Ambani-led Reliance Industries slumped over 7% and was among the top drags on both the Sensex and Nifty indices. All the sectoral indices on the NSE slipped into the negative territory led by pharma, IT, FMCG, financial services, banks, and auto. Reliance alone wiped off 275 points from the Sensex index, followed by HDFC Bank (-143.93 points), TCS (-105.94), Infosys (-82.23), ITC ( -63.05) and HDFC (-40.44).
Oil marketing companies stocks cracked up to 21% after the government on Thursday announced Rs 2.50/litre relief on petrol and diesel prices. The government has cut excise duty on petrol and diesel by Rs 1.50 per litre. OMCs will cut fuel prices by Rs 1 per litre, the government announced on Thursday. ICICI Bank shares surged 4% after Chanda Kocchar on Tuesday announced her resignation as the bank’s MD and CEO with immediate effect.