Stock Market Today LIVE: The Indian stock market extended selloff on Thursday, with both the benchmark indices, Sensex and Nifty 50 nearlu 2% each, as investors remained cautious over the Reserve Bank of India’s (RBI) repo rate hike, rising US Treasury yields and elevated crude oil prices.
During the session, the Sensex crashed over 1,200 points, and Nifty 50 breached 22,200 level during the session. The Bank Nifty index also tanked over 1%.
Broader markets saw deeper cuts, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices declined more than 2% each.
Barring Nifty IT, all other sectoral indices witnessed selling, with Nifty Metals, Nifty Realty, Nifty Pharma, Nifty Oil & Gas, Nifty Auto and Nifty FMCG indices falling the most.
On the Nifty 50 index, ITC, JSW Steel, Max Healthcare Institute, Apollo Hospitals Enterprise and InterGlobe Aviation were the top losers.
However, IT stocks bucked the trend and traded in the green, ahead of the TCS Q2 results later today. Â
The RBI on Wednesday raise repo rate by 25 bps to 5.50%, tightening domestic financial conditions at a time when global markets are already contending with elevated Treasury yields and geopolitical uncertainty.Â
Investors will watch out for the September quarter earnings season beginning today, with the IT bellwether Tata Consultancy Services (TCS) announcing its Q2 results today.
Stay tuned to this segment for live updates on the Indian stock market today.
