Stock market update: The Sensex fell as much as 304 points at the day s lowest level.
The Indian equity benchmarks opened lower in trade on Wednesday on the back of subdued global cues. Global stocks slipped from record levels on Tuesday, with investors cautious as the Federal Reserve kicked off its two-day policy meeting and US lawmakers continued to debate a new stimulus plan. Those concerns overshadowed impressive results from a slew of companies, including from General Electric and Johnson & Johnson, which had earlier pushed the S&P 500 to a record high. The Sensex fell as much as 304 points and Nifty 50 index dropped below psychological level of 14,200.
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Sensex drops over 210 points in early trade
The BSE benchmark Sensex slipped over 210 points in the opening session on Wednesday, dragged lower particularly by oil & gas, pharma and banking stocks. After opening on a slightly higher note, the BSE barometer succumbed to selling pressure and entered the negative territory to quote 210.75 points or 0.44 per cent lower at 48,136.84.
Likewise, the NSE gauge Nifty was trading 62.50 points or 0.44 per cent down at 14,176.40 in early deals.
On the Sensex chart, IndusInd Bank, Reliance Industries, Dr Reddyâs, Asian Paints, NTPC and Bajaj FinServ were major losers.
Of the Sensex constituents, 20 stocks were trading in the red and 10 in the green.
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Stock market scores record high to welcome Biden; Sensex hits 50,000-mark, Nifty above 14,700
Equity benchmark Sensex rallied over 300 points to hit the 50,000-mark for the first time ever in early trade on Thursday on strong gains in index majors Reliance Industries, Bajaj Finance and ICICI Bank amid positive global cues. After touching a lifetime high of 50,126.73, the 30-share BSE index was trading 300.09 points or 0.60 per cent higher at 50,092.21 in opening deals.
Similarly, the broader NSE Nifty surged 85.40 points or 0.58 per cent to trade at 14,730.10. It too scaled its highest level of 14,738.30 in early trade.
Bajaj Fiserv was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank and Axis Bank. On the other hand, TCS and HDFC twins were the laggards.