Sensex, Nifty down nearly 1% as global cues weaken; Adani Enterprises down nearly 5%

By Koustav DasBenchmark stock market indices fell sharply on Thursday, snapping a three-day winning streak due to weak global cues.

The S&P BSE Sensex fell 568.55 points to settle 59,779.54, while the NSE Nifty 50 ended 172.40 points lower at 17,582. Broader markets also fell at the end of the trading session due to a spike in volatility.

All sectoral indices ended in negative territory except Nifty Metal, which ended 0.6 per cent higher. Nifty Realty, Nifty IT, Nifty FMCG, Nifty Auto and Nifty Oil and Gas were some of the biggest losers.

Also Read | 4 Adani Group stocks hit upper circuit, flagship company falls 5%

Adani Enterprises was the top loser on the Nifty 50 index, falling 4.82 per cent. Some of the other drags on the index were M&M, SBI Life, Reliance, Adani Ports, Bajaj Finserv and ICICI Bank.

On the other hand, Tata Steel, L&T, Apollo Hospitals and Bharti Airtel were the top gainers during today’s trading session.

Domestic stock markets rose over the past three trading sessions after a board-based recovery in 10 listed Adani Group stocks. However, investors have again shifted focus to the possibility of prolonged higher interest rates globally, including the US.