Sensex Down 720 pts in Early Trade, Nifty Below 24,900 — All You Need to Know
As of 9:26 am, Sensex declined by 726.42 points or 0.89% to 80,870.21, while Nifty shed 225.0 points or 0.91% at 24,588.45.
Sensex Down 720 pts in Early Trade, Nifty Below 24,900 — All You Need to Know
The Indian benchmark indices opened on a negative note today amid uncertain global cues. This was majorly driven by selling in IT and auto stocks in the early trade.
As of 9:26 am, Sensex declined by 726.42 points or 0.89% to 80,870.21, while Nifty shed 225.0 points or 0.91% at 24,588.45.
Nifty Bank fell by 336.20 points or 0.61 to 54,738.90. On the broader markets front, Nifty midcap 100 index was trading at 56,312.00, down 307.60 points or 0.54%, while smallcap 100 index dipped by 39.50 points or 0.23% at 17,509.10.
“On the upside, 24,900 acts as the initial resistance, while 25,000 is a key psychological barrier. A decisive move above this level may trigger a bullish rally toward the 25,200-25,500 zone,” said Mandar Bhojane, Equity Research Analyst of Choice Broking.
On the Sensex pack, Indusind Bank, Tech Mahindra, Powergrid, HCL Tech, Nestle India, Hindustan Unilever Limited were in red, while Adani Ports and Tata Steel were the only two gainers.
Asian markets including China, Hong Kong, Bangkok, Seoul and Japan traded with losses except Jakarta.
Dow Jones in the US settled at 41,860.44, down 816.80 points, or 1.91%, while S&P 500 fell by 95.85 points, or 1.61% to close at 5,844.61.Nasdaq closed at 18,872.64, down 270.07 points, or 1.41%.
On May 21, foreign institutional investors (FIIs) bought domestic equities worth ₹2,201.79 crore. Domestic institutional investors (DIIs) purchased shares worth ₹683.77 crore.
