Mumbai, April 22: Benchmark equity indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday, snapping a three-day gaining streak due to heavy selling in IT stocks and an uptick in crude oil prices.
The 30-share BSE Sensex tanked 756.84 points or 0.95 per cent to settle at 78,516.49. During the day, it slumped 831.03 points or 1.04 per cent to 78,442.30. The 50-share NSE Nifty dropped 198.50 points or 0.81 per cent to end at 24,378.10.
Foreign fund outflows and fears of prolonged instability in West Asia also dented market sentiment.
Among 30-Sensex firms, HCL Tech tumbled the most by 10.85 per cent after its March quarter earnings failed to cheer investors.
HCL Tech reported a 4.20 per cent on-year rise in consolidated net profit to Rs 4,488 crore for the March quarter, even as the management flagged a highly volatile demand environment shadowed by tariffs and softened discretionary spends, giving a FY27 growth guidance of 1-4 per cent.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,918.99 crore on Tuesday, according to exchange data.
The BSE SmallCap Select index climbed 0.76 per cent, while MidCap Select index dipped 0.04 per cent.
Among sectoral indices, IT tanked 3.66 per cent, BSE Focused IT (3.54 per cent), Top 10 Banks (0.85 per cent), Financial Services (0.64 per cent) and Private Banks index (0.64 per cent).
Utilities jumped 2.48 per cent, Power (1.97 per cent), MidSmall Private Banks Quality Tilt (1.13 per cent), Capital Goods (1.11 per cent) and FMCG (0.98 per cent).
In Asian markets, South Korea’s benchmark Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index ended in positive territory, while Hong Kong’s Hang Seng index ended lower.
Markets in Europe were trading on a mixed note.
US markets ended lower on Tuesday.
On Tuesday, the Sensex jumped 753.03 points or 0.96 per cent to settle at 79,273.33. The Nifty climbed 211.75 points or 0.87 per cent to end at 24,576.60. (PTI)
