Delhi Delhi. Equity benchmark indices Sensex and Nifty fell nearly 1 per cent on Thursday due to heavy selling in market heavyweights HDFC Bank, TCS and Reliance as investors panicked over earnings growth concerns amid continued foreign capital outflows. Besides, extremely low inflation data in China, signs of weak demand and selloff in US bonds further added to the pressure, traders said. Registering a decline for the second consecutive day, the 30-share benchmark Sensex fell 528.28 points or 0.68 per cent to settle below the 78,000 level at 77,620.21. During the day, it fell 605.57 points or 0.77 per cent to 77,542.92.
The NSE Nifty fell 162.45 points, or 0.69 per cent, to 23,526.50. “Indian stock markets followed their Asian counterparts in a similar decline, with a selloff in US bonds triggering cautious investor sentiment. The US 10-year Treasury yield rose to its highest since April 2024, signalling expectations of a rate cut by the Fed.
“Additionally, disappointing inflation data from China added to pressure, indicating that recent stimulus measures have failed to rejuvenate one of the world’s largest consumer markets,” said Vinod Nair, Head of Research at Geojit Financial Services.
In the 30-stock Sensex blue-chip pack, Tata Steel, Zomato, Larsen & Toubro, Tata Motors, Adani Ports, Tata Consultancy Services, HDFC Bank and NTPC were among the major laggards. Nestle, Hindustan Unilever, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints and Bharti Airtel were among the gainers. Meanwhile, India’s largest IT services company TCS reported an 11.95 per cent rise in net profit to Rs 12,380 crore for the December quarter. The financial results were announced after market close.
