Sensex dives 900 points, marks sixth consecutive daily decline, slips below 64,000
The 30-share BSE Sensex witnessed a significant drop of 900.91 points, representing a 1.41 pc decrease, settling below the 64,000 level at 63,148.15. At its lowest point during the day, it fell by 956.08 points, equivalent to a 1.49 percent decline, reaching 63,092.98
Mumbai, October 26: In its sixth consecutive session of decline, the Sensex, a key equity benchmark, plummeted by around 900 points, breaching the critical 64,000 level. The decline was attributed to a widespread selloff triggered by escalated tensions in the Middle East.
The downturn was exacerbated by a combination of factors, including sluggish global market conditions, substantial losses in the auto, financial, and energy sectors, and increased selling pressure from foreign investors, according to analysts.
The 30-share BSE Sensex recorded a significant drop of 900.91 points, equivalent to 1.41 percent, ultimately settling below the 64,000 threshold at 63,148.15. During the trading day, it reached a low point of 63,092.98, marking a decrease of 956.08 points or 1.49 percent.
The Nifty index was also affected, witnessing a decline of 264.90 points, or 1.39 percent, settling at 18,857.25.
Starting from October 17, the BSE benchmark has experienced a decline of 3,279.94 points, representing a 4.93 percent decrease, while the Nifty has fallen by 954.25 points, or 4.81 percent.
Among the notable losers in the Sensex pack, Mahindra & Mahindra took the most significant hit with a 4.06 percent drop. This was followed by declines in Bajaj Finserv, Asian Paints, Nestle, Bajaj Finserv, JSW Steel, Titan, HDFC Bank, Tech Mahindra, Tata Motors, and Larsen & Toubro.
Conversely, Axis Bank, ITC, HCL Technologies, NTPC, and IndusInd Bank were among the gainers in the market. Asian markets in Seoul, Tokyo, and Hong Kong experienced declines, while Shanghai concluded the day on a positive note. European markets faced substantial losses, and the US markets closed with negative sentiment on Wednesday.
Global oil benchmark Brent crude reported a 0.65 per cent decline, reaching USD 89.54 per barrel.
Foreign Institutional Investors (FIIs) were observed offloading equities worth Rs 4,236.60 crore on Wednesday, as per exchange data. On the previous day, the BSE benchmark experienced a decline of 522.82 points, equivalent to 0.81 percent, closing at 64,049.06, while the Nifty fell by 159.60 points, or 0.83 percent, settling at 19,122.15.