BSE shares crack 4% after being placed under ASM framework
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New Indian Express
35 minutes ago
- New Indian Express
Sensex and Nifty slide 1 per cent, investors' wealth erodes by Rs 6 lakh crore
Indian stock market fell sharply on Thursday with the benchmarks -NSE Nifty and BSE Sensex - sliding 1% each. At close, the Sensex stood at the 81,691.98 level, falling 823.16 points, or 1%, while the NIFTY50 index settled at the 24,888.20 level, sliding 253.20 points, or 1.01%. The sell-off is attributed to rising geopolitical tensions in the Middle East and investors turning cautious ahead of the U.S. inflation data. 'The downturn was attributed to intensified profit-booking and risk-off sentiment, as escalating geopolitical tensions in the Middle East overshadowed positive macro cues such as softening inflation and encouraging trade data. Investor mood remained cautious ahead of further developments on the US-China trade front, adding to market uncertainty,' said Bajaj Broking Research. The broader markets underperformed, with the Nifty Midcap 100 and Smallcap 100 indices falling 1.6% and 1.78%, respectively, highlighting heightened selling pressure. Sectoral performance was uniformly weak, with all major indices closing in the red. Nifty Realty and Nifty Energy led the decline, shedding 2% and 2.04%, respectively. Investors lost Rs 6 lakh crore on Thursday as the overall market capitalisation of firms listed on the BSE dropped to nearly Rs 449.6 lakh crore from about Rs 455.6 lakh crore in the previous session. Vinod Nair, Head of Research, Geojit Investments said that valuation concerns and rising oil prices—driven by Middle East tensions, are fuelling risk aversion among investors. He added that adding to the uncertainty, the U.S. is considering unilateral tariff hikes on several key trading partners, with a decision expected within the next one to two weeks, ahead of an early July deadline. Pranay Aggarwal, Director and CEO of Stoxkart said that weak global cues, particularly concerns around sticky US inflation data and the possibility of delayed interest rate cuts by the Federal Reserve, weighed heavily on investor sentiment. Domestically, markets saw profit booking across the board following the recent post-election rally. Key sectors such as banking, IT, and FMCG came under significant pressure, dragging the indices lower. 'Looking ahead, market participants are likely to remain cautious in the near term as they await clarity on global monetary policy direction and domestic macroeconomic data,' added Aggarwal. In the Nifty50 pack, 43 stocks declined while only 7 advanced on Thursday. Tata Motors was the top loser, falling 2.98%, followed by Titan (-2.62%), Trent (-2.62%), Shriram Finance (-2.57%) and Coal India (-2.51%). Meanwhile, gold is witnessing a fresh leg of safe-haven buying, amid escalating geopolitical and economic risks. Gold prices jumped Rs 850 to Rs 99,340 per 10 grams in the national capital on Thursday, according to the All India Sarafa Association. The yellow metal of 99.5% purity climbed Rs 800 to Rs 98,800 per 10 grams (inclusive of all taxes).
Time of India
39 minutes ago
- Time of India
ET Market Watch: Sensex cracks 823 pts; Rs 7 lakh crore wealth wiped out amid global tensions & tariff jitters
Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: On Thursday, Indian benchmark indices took a sharp hit. The Sensex tumbled 823 points. Nifty lost 253 points — slipping below the 24,900 mark. Over ₹7 lakh crore of investor wealth was wiped out in a single session. So, what's behind the sell-off? Here are 5 key triggers that spooked investors: 1. Middle East tensions escalate Risk aversion is back. The U.S. is partially evacuating its embassy in Iraq. Israel is reportedly preparing for a potential strike on Iran's nuclear sites. And Iran is threatening retaliation on U.S. bases in the region. The result? A global flight to safety. Saudi and Dubai markets fell sharply. Oil jumped to $70 a barrel before cooling off. 2. Trade tariff worries resurface Donald Trump says the U.S. will send letters to dozens of countries — demanding new trade deals… or face tariffs. This comes just days after a fragile deal framework with China. 3. Global market mood turns risk-off U.S. inflation data came in soft. Asian markets slipped. European futures fell. The bullish momentum? Hit a pause. 4. Crude oil spikes — sectoral pain follows High oil = higher input costs. Aviation, paints, tyres — all came under pressure. But ONGC and Oil India surged on hopes of better realizations. OMCs like IOC and BPCL fell up to 4.5% over margin worries. 5. Weekly F&O expiry = extra volatility Nifty's weekly expiry added fuel to the fire. Traders rushed to square off positions, triggering sharp intraday moves. What should investors do now? Experts say: avoid chasing momentum. The zone between 25,000–25,300 on Nifty remains key. Buy on dips. Book profits at highs.
Economic Times
an hour ago
- Economic Times
Reliance sells 3.6% Asian Paints for $900 million to SBI MF
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
