MUMBAI, Dec 16: The benchmark Sensex tumbled 533.50 points to settle at 84,679.86 on Tuesday, while the Nifty fell 167.20 points to a week’s low of 25,860.10, as foreign fund outflows, a weak rupee, and sluggish global markets dampened investor sentiment.
Axis Bank led the losses among Sensex constituents, dropping 5.03%, followed by Eternal, HCL Tech, Bajaj Finserv, Tata Steel, UltraTech Cement, and Bajaj Finance. In contrast, Titan, Bharti Airtel, Mahindra & Mahindra, and Asian Paints were among gainers.
The rupee hit a record low of 91.14 against the US dollar amid persistent foreign selling. Sectorally, realty, banking, commodities, IT, financial services, and metal indices fell, while telecom and consumer durables were the only gainers.
Overall, 2,519 BSE-listed stocks declined, 1,651 advanced, and 158 remained unchanged.
Experts attributed the decline to risk aversion triggered by the rupee breaching 91, coupled with weak Asian and global cues. Brent crude fell 1.54% to USD 59.63 per barrel. Asian markets including South Korea’s Kospi, Japan’s Nikkei, Shanghai’s SSE, and Hong Kong’s Hang Seng ended sharply lower.
On Monday, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,468.32 crore, while domestic institutional investors (DIIs) bought stocks worth Rs 1,792.25 crore, reflecting ongoing volatility in Indian markets. (PTI)
