Equity indices down by 1.5 pc, metals and PSU banks drag

ANI
24 Sep 2020, 10:33 GMT+10

Mumbai (Maharashtra) [India], September 24 (ANI): Equity benchmark indices plunged by nearly 1.5 per cent during early hours on Thursday on the back of weak global cues.

At 10:15 am, the BSE SP Sensex was down by 561 points or 1.49 per cent at 37,107 while the Nifty 50 tumbled by 155 points or 1.4 per cent at 10,976.

All sectoral indices at the National Stock Exchange were in the red with Nifty metal, PSU bank and realty edging lower by 2 per cent each, auto by 1.7 per cent and IT by 1.4 per cent.

Among stocks, Hindalco cracked by 3.9 per cent to Rs 159 per share and JSW Steel by 2.3 per cent to Rs 261.95.

IndusInd Bank fell by 3.6 per cent, Bajaj Finance by 2.9 per cent, Tata Motors by 3 per cent and MahindraMahindra by 2.6 per cent.

However, those which gained marginally were Bharti Infratel, Dr Reddy's Power Grid Corporation and Kotak Mahindra Bank.

Meanwhile, Asian markets fell following a slump on Wall Street overnight. A series of warnings from US Federal Reserve officials over the resilience of economic recovery left investors nervous.

MSCI's broadest index of Asia Pacific shares outside Japan tumbled by 1.35 per cent on broad losses across the region.

Chinese blue-chips dropped by 1.09 per cent, Hong Kong's Hang Seng fell 1.72 per cent, Seoul's Kospi sank 1.73 per cent and Japan's Nikkei fell 0.74 per cent. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.

More Information

null in null

International Business

Section

US, Canadian farmers face rising fertilizer costs amid trade tensions

US, Canadian farmers face soaring fertilizer prices amid Trump tariffs

WINNIPEG, Manitoba: Farmers in the U.S. and Canada are bracing for soaring fertilizer prices as trade tensions escalate between the...

Iran condemns US strikes on Yemen

Washington has threatened additional attacks on the country, including on alleged Iranian assets ...

HUDCO extends Rs 11,000 crore loan to CRDA for construction of Andhra state capital

Amaravathi (Andhra Pradesh) [India], March 16 (ANI): In a significant development, the Housing and Urban Development Corporation (HUDCO)...

Trump worse than Covid deputy ECB chief

The new US administration has created more uncertainty than the pandemic, the European Central Bank vice president has claimed Washington...

"Tragedy of unimaginable magnitude": PM Modi on Godhra train burning

New Delhi [India], March 16 (ANI): Interacting with renowned podcaster Lex Fridman, Prime Minister Narendra Modi on Sunday spoke about...

Air India Express to operate 40 weekly flights from Hindon in Ghaziabad, connecting these five cities

New Delhi [India], March 16 (ANI): Air India Express will operate 40 weekly flights from Hindon Airport, directly connecting five key...

International

Section