New Delhi: Indian equities benchmarks fell substantially in early trade on Thursday, owing to negative global market indications. As investors worried about increasing global inflation, China’s zero-covid policy, and the Ukraine war, Asian markets followed the Wall Street selloff.
Trends on the Singapore Exchange’s Nifty Futures (SGX Nifty) suggested a gap-down opening for the domestic indices.
The 30-stock BSE Sensex down 1,106 points, or 2.04%, to 53,103, while the broader NSE Nifty fell 314 points, or 1.94 percent, to 15,926.
Mid- and small-cap stocks were trading lower, with the Nifty Midcap 100 down 2.38 percent and small-cap down 2.80 percent.
The National Stock Exchange’s 15 sector indices were all trading in negative territory. The Nifty IT and Nifty Metal sectors underperformed the index, sliding 3.25 percent and 3.01 percent, respectively.
On the BSE, the total market breadth was negative, with 459 shares rising and 2,147 falling.
TechM, Bajaj Finserv, Infosys, Wipro, Tata Steel, Bajaj Finance, SBI, TCS, HCL Tech, Axis Bank, IndusInd Bank, and Asian Paints were among the worst performers on the 30-share BSE index.
Meanwhile, shares of Life Insurance Corporation of India (LIC) were trading at 863.65, down 1.44 percent from their previous close of 876.25. On Tuesday, LIC made a lukewarm debut on the public exchanges, debuting at an 8.62 percent discount.
ITC, on the other hand, was in the black.
On Wednesday, the Sensex fell 110 points, or 0.20 percent, to close at 54,209, while the Nifty fell 19 points, or 0.12%, to settle at 16,240.