• Source:JND
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Stock Market Closing:  The domestic benchmark indices experienced a heavy fall, as Sensex and Nifty 50 ended the day trade below 1 percent each. Sensex, the index of the top 30 stocks on BSE, closed at 72,404.17, down by 1,062 points or 1.45 percent, whereas, Nifty 50, the index of top 50 shares on NSE, ended trade at 21,957.50, down by 1.55 percent or 345 points. Today's fall was driven by heavy foreign fund outflows and sales in HDFC Bank, Larsen & Toubro, and Reliance Industries.

Larsen & Toubro of the Sensex basket plunged more than 5 percent after March quarter earnings. ITC, JSW Steel, Bajaj Finance, Asian Paints, IndusInd Bank, Bajaj Finserv, Tata Steel, NTPC, HDFC Bank, Reliance Industries, and Power Grid were among the laggards. On the other hand, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys, and HCL Tech were the gainers.

According to exchange data, Foreign institutional investors (FIIs) sold shares worth Rs 6,669.10 crore on Wednesday. Shanghai and Hong Kong closed higher in Asian markets, while Seoul and Tokyo ended lower.

European markets were trading with mixed results. Wall Street ended mixed overnight Wednesday. The global benchmark Brent crude rose 0.48 percent to $83.89 per barrel. The 30-share BSE Sensex fell 45.46 points or 0.06 percent to close at 73,466.39 on Wednesday. The NSE Nifty was flat at 22,302.50.

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Rupee Closes Flat

The rupee strengthened against the US dollar in a narrow range on Thursday and closed 2 paise higher at 83.50 (provisional) on a flat note for the day amid weak domestic markets and a stronger American currency.

Forex traders said large-scale foreign fund outflows weighed on investor sentiment. In the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.49 and touched a high of 83.44. The local unit finally closed for the day at 83.50 (provisional), up 2 paise from its previous close.

(With PTI Input)

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