Indian markets fell sharply on Thursday, with heavy selling in the banking, metal and information technology stocks in particular, Mint reported. The BSE Sensex slumped 470.41 points, falling to its lowest level in over six months, closing at 36,093.47. The National Stock Exchange Nifty declined 135.85 points to close at 10,704.80.
The markets declined as foreign investors sold Indian equities worth Rs 959 crore the day before. A grim outlook for economic growth also contributed to the negative market sentiment.
Yes Bank was the biggest loser on both indices, with its stock falling by more than 15%. The other top losers on the Sensex were Tata Steel, IndusInd Bank, ICICI Bank and Maruti Suzuki. On the Nifty, Zee Entertainment, Tata Steel, IndusInd Bank and ICICI Bank saw their stocks decline the most.
Only five stocks – Tata Motors, HDFC Bank, Bharti Airtel, Coal India and Asian Paints – showed gains on the Sensex. On the Nifty, the top gainers were Tata Motors, UPL, HDFC Bank, Bharti Airtel and Coal India.
Other major Asian markets showed mixed trends. The Hong Kong Hang Seng fell by more than 285 points, and the Taiwan index by over 34 points. However, the Shanghai index rose by over 13 points, and the Australia ASX All Ordinaries by more than 34 points.
The Indian rupee was trading eight paise down against the United States dollar at 71.31 at 4.35 pm.
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