BUSINESS
In India, benchmark Sensex dropped by nearly 451 points or 0.57 per cent to settle at 78,248.13.
Stock markets across the world, including India, fell on Monday due to various reasons. The Indian share market saw a sharp decline amid unabated foreign fund outflows, weak trends in the global markets and selling in blue-chip stocks. Moreover, elevated US Treasury yields prompted investors to pull out of equities.
"Over elevated valuations and diminishing expectations of US rate cuts in 2025 are also weighing on sentiment," Saurabh Jain of SMC Global Securities said. Trading volumes were also thin ahead of the New Year holidays in several countries.
In India, benchmark Sensex dropped by nearly 451 points or 0.57 per cent to settle at 78,248.13. During the day, it tanked 621.94 points or 0.79 per cent to 78,077.13. The NSE Nifty declined 168.50 points or 0.71 per cent to 23,644.90.
From the 30 blue-chip pack, Tata Motors, Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank and Infosys were among the biggest laggards. Zomato, Tech Mahindra, HCL Tech and IndusInd Bank were among the gainers. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,323.29 crore on Friday, according to exchange data.
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In Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended higher. European markets were trading lower. US markets ended in the negative territory on Friday. Global oil benchmark Brent crude dipped 0.05 per cent to USD 74.13 a barrel. The BSE benchmark gained 226.59 points or 0.29 per cent to settle at 78,699.07 on Friday. The Nifty rose by 63.20 points or 0.27 per cent to 23,813.40.
(With inputs from PTI)
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