The recent logo of the Bombay Stock Exchange (BSE) building can be seen in Mumbai. File | Photo source: REUTERS
Benchmark equity indices Sensex and Nifty fell nearly 1% on Thursday, continuing their losing streak for the fifth consecutive day as they booked profits after the monthly expiration of indices in the derivatives segment.
The 30-share BSE Sensex fell 617.30 points or 0.83% to settle at 73,885.60. The barometer hit an intraday low of 73,668.73 amid blue chip selling.
The NSE Nifty index fell 216.05 points or 0.95% to close at 22,488.65.
Benchmark indices closed at all-time highs on May 23, triggering profit-taking amid growing investor nervousness ahead of the June 4 Lok Sabha poll results. Since then, the Nifty and Sensex have fallen by around 2% in five consecutive sessions.
“The benchmark index is taking cues from the US market as government bond yields continue to rise amid persistent global inflation, delaying the central bank’s interest rate cut policy,” said Vinod Nair, research director at Geojit Financial Services.
From the Sensex pack, the biggest laggards were Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel.
ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank gained.
“Meanwhile, the broader market continued the feeble trend led by the earnings book due to feeble close of the monthly bond expiry due to lack of interest in holding short-term positions as the exit poll is scheduled for the weekend,” Nair said.
In Asian markets, Seoul, Tokyo, Hong Kong and Shanghai posted lower ratings.
European markets recorded gains, while US markets ended Wednesday in the red.
According to stock exchange data, foreign institutional investors (FIIs) withdrew shares worth ₹ 5,841.84 crore on Wednesday.
The last stage of voting is scheduled for June 1. The results of the ongoing general election will be announced on June 4.
Global benchmark Brent Crude crude fell 0.41% to $83.19 a barrel.
On Wednesday, the 30-share BSE Sensex fell 667.55 points or 0.89% to end at 74,502.90. The NSE Nifty index fell 183.45 points or 0.80% to close at 22,704.70.
