MARKET UPDATE: Sensex fell over 700 points to trade at 57,480 levels and Nifty50 declined over 200 points to trade below 17,100 levels
Published On: Monday, October 10, 2022 | By: Team KnowMyStock
Opening Bell: Today (10 October 2022) bears weighed domestic equity markets amid weak global cues, muted foreign flows, and higher crude oil prices. Key indices Nifty50 declined over 200 points to trade below 17,100 levels and the S&P BSE Sensex fell over 700 points to trade at 57,480 levels. The weakness spread to broader markets as Nifty MidCap 100 and Nifty SmallCap 100 lowered by over 1 percent each. Volatility gauge, India VIX, meanwhile, climbed over 6 percent. All sectors nosedived into the negative territory on the back of somber risk appetite. Nifty Bank, Nifty Auto, and Nifty FMCG indices tumbled the most - over 1 percent each.
All the 30 constituents in the S&P BSE Sensex index plunged in the sea of red. Shares of HDFC Twins, IndusInd Bank, Asian Paints, Bajaj Finserv, contributed to the sharp cuts in the benchmark indices.
Among individual stocks, shares of Tata Consultancy Services (TCS) declined marginally ahead of their July-September results update (Q2FY23). Shares of IDBI Bank rallied over 9 per cent after the Centre and LIC planned to sell over 60 per cent stake from the public sector lender.
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