BSE Sensex fell below the 65,000 points mark on Wednesday trading down by 567 points.
BSE Sensex is trading at 64,944 points in afternoon trade.
Axis Bank is down 3.6 per cent, Ultratech Cement is down 2.7 per cent, Indusind Bank is down 2.6 per cent, NTPC is down 2.5 per cent, SBI is down 2.5 per cent, L&T is down 2.3 per cent, Tata Steel is down 2.3 per cent, Bajaj Finserv is down 2.2 per cent, and Sun Pharma is down 2 per cent.
Global cues are negative for markets in the near-term. The sustained rise in the US bond yields, which has triggered continuous FII selling, is showing no signs of abating, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
This means FIIs will continue to sell and the bulls will be on the back foot, he said.
On the positive side, valuations in some segments are becoming attractive and this may push DIIs and retail investors to buy stocks in such segments. An inevitable consequence of this complex situation is heightened volatility, he added.
A significant trend in the market is that fundamentally strong stocks like large cap private sector banks have turned weak on FII selling. For long-term investors, this is an opportunity, he said.
AdaniConneX establishes India's largest sustainability linked financing to raise up to $1.44 billion
In a bid to accelerate digital infrastructure growth in India, AdaniConneX, a JV between Adani Enterprises and EdgeConneX, on Sunday said it has established the country’s largest sustainability-linked financing to raise up to $1.44 billion.
Credit card data of 17K ICICI Bank users exposed; bank blocks cards, assures compensation
After credit card data of at least 17,000 new ICICI Bank customers was exposed and reached "wrong users", the bank said on Thursday that it has blocked these cards and is issuing new ones to the customers.
NDA rule has shown superior numbers on GDP growth, inflation, unemployment compared to UPA
The NDA rule of the last 10 years has shown superior numbers on GDP growth, inflation, CAD (Current Account Deficits), unemployment and FDI ex of pandemic year compared to the UPA regime, broking firm Prabhudas Lilladher said.
RBI crackdown triggers crash in Kotak Bank shares
The RBI had, on Wednesday evening, barred Kotak Mahindra Bank, with immediate effect, from taking on new customers and issuing fresh credit cards.
Kotak Bank promoter donated electoral bonds worth Rs 60 cr, but RBI cracks down on lender to protect customers
Infina Finance, one of the promoter group entities of Kotak Mahindra Bank which was barred by the RBI on Wednesday from onboarding new customers, had donated electoral bonds worth Rs 60 crore to the BJP.
RBI lists 6 factors powering India’s take-off to become world’s 3rd largest economy
While India’s recent growth performance has surprised many, triggering a flurry of upgrades from financial institutions such as the IMF, the RBI bulletin released on Tuesday cites six factors that will propel the country to become the world’s third-largest economy.
Congress in Tripura blocks rail stations to protest police fired-killing of 5 farmers in MP
The firing on Tuesday came during raucous protests to demand better crop prices in the drought-ravaged region that saw one farmer suicide every five hours in the past two years.
DMs, SPs of violence-hit MP districts transferred
The farmers agitation entered its eighth day on Thursday. The peasants have been on strike since June 1, demanding loan waiver and fair price for their produce.