Markets fall on profit-taking in blue-chips & forign fund outflows, Sensex tanks 542 points

Mumbai: Equity markets fell on Thursday, with the benchmark Sensex tumbling 542.47 points, amid profit-taking in blue-chip stocks and foreign fund outflows.

Despite a positive start, the 30-share BSE Sensex failed to carry forward the momentum and fell later in the trade. The benchmark tanked 542.47 points, or 0.66 per cent, to settle at 82,184.17. The 50-share NSE Nifty dropped 157.80 points, or 0.63 per cent, to 25,062.10.

As many as 2,410 stocks declined, while 1,645 advanced and 166 remained unchanged on the BSE.

From the Sensex firms, Trent, Tech Mahindra, Bajaj Finserv, Reliance Industries, Infosys, Kotak Mahindra Bank, HCL Technologies, and NTPC were among the biggest laggards. However, Eternal, Tata Motors, Sun Pharma, Tata Steel, and Titan were the gainers.

Infosys declined over 1 per cent amid profit-taking after its June quarter earnings announcement.

The BSE smallcap gauge declined 0.50 per cent and midcap index dipped 0.43 per cent.

Among BSE sectoral indices, BSE Focused IT dropped 2.27 per cent, IT (1.90 per cent), teck (1.54 per cent), FMCG (1.09 per cent) and realty (1.03 per cent). Healthcare, auto and metal were the gainers.

The rupee pared initial gains to settle just 1 paisa higher at 86.40 against the US dollar on Thursday, as investors remained cautious amid risk aversion in global markets and an overnight recovery in crude oil prices.

FIIs offloaded equities worth Rs 4,209.11 crore on Wednesday, according to exchange data. However, Domestic Institutional Investors bought stocks worth Rs 4,358.52 crore in the previous trade.