From Financialexpress · Oliviya Kunjumon · · 1m 30s
Sensex drops 500 points, Nifty below 22,700
Indian stock markets fall as Sensex drops 503 points, Nifty nears 22,642.
In brief
Indian stock markets fall as Sensex drops 503 points, Nifty nears 22,642. Indian stock markets fell as Sensex dropped 503 points to 73,265.23 and Nifty 50 declined 169.45 points to 22,641.90. Originally reported by Financialexpress.
Market opens lower
The Sensex fell over 600 points to trade below 73,200, while the Nifty dropped around 200 points to slip below 22,600.
Sensex and Nifty at 11:55 am
The markets slipped further into the red, with the Sensex falling 503 points, or 0.60%, to 73,265.23, while the Nifty 50 declined 169.45 points, or 0.74%, to 22,641.90.
Key laggards
HCL Technologies, Power Grid, Asian Paints and Tech Mahindra were among the key laggards, falling between 1.58% and 2.14%.
Market recovers briefly
The Sensex and Nifty recovered from their early lows but continued to trade in the red.
Global cues
Investors will track global cues, including crude oil prices, along with domestic triggers such as second-quarter earnings.
Asian markets mixed
South Korea’s Kospi slipped 0.67%, while Japan’s Nikkei 225 edged up 0.19% and Australia’s S&P/ASX 200 showed little movement.
Crude oil prices rise
Oil prices moved higher in early trade, with Brent crude rising 1.10% to $110.02 a barrel.
US dollar index
The US Dollar Index (DXY) was trading at 101.70, with the Indian rupee strengthening 0.50% to close at 94.46 against the US dollar.
The takeaway
Indian stock markets fell as Sensex dropped 503 points to 73,265.23 and Nifty 50 declined 169.45 points to 22,641.90.
