Mumbai: BSE Sensex today tumbled by 433 points tracking losses in index majors ICICI Bank, HDFC and SBI amid mounting inflationary pressure in the global market and foreign fund outflows. The 30-share index ended 433.13 points or 0.72 per cent lower at 59,919.69. Similarly, the Nifty fell 143.60 points or 0.80 per cent to 17,873.60, according to a PTI report.Also Read - Mumbai Witnesses Record Rise in Corona Cases, 15 Buildings Sealed as Authorities Increase Covid Testing
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. On the other hand, Titan, M&M, Reliance Industries and TCS were among the gainers, the PTI report says. Also Read - No Vaccine, No Entry: Gujarat Restricts Unvaccinated People From Using Public Facilities From Nov 12 | Deets Here
Elsewhere in Asia, bourses rebounded in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul was in the red. Major indices in Europe were trading on a positive note in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 0.63 per cent to USD 83.16 per barrel. Also Read - English Premier League: Aston Villa Announce Liverpool Legend Steven Gerrard as New Manager
“Indian markets opened on a negative note following mixed Asian market cues and higher than expected inflation data reported in US raising concerns of an earlier-than-expected hike in interest rates in the world’s largest economy,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi, as per PTI report.
Further, he noted that continuous foreign fund outflows subdued traders’ sentiments. FIIs have sold equities worth Rs 5,515 crore so far this month, the PTI report says.