Sensex Slumps 599 Pts; Nifty Drops To 15080; Broader Mkts Outperform

On weak global cues and higher US treasury yield, there was pressure on the Indian indices seen in today's trade after three consecutive day's of gains. At the close, Nifty was down, to 15080, while Sensex went lower by almost 600 pts to 50846, dragged by metals, banks and financial services stocks. Broader indices however outperformed with gains of 0.5%.

Heavyweights including the likes of HDFC twins, RIL also weighed on the indices.
Among the top gainers in trade today were stocks like Ultratech Cement, Grasim, Shree Cements, Adani Ports and laggards include JSW Steel, Hindalco, HDF, Tata Steel and Tata Motors.

IRCTC shares hit a new high as there was seen a revival in travel activity.

Meanwhile, European indices also traded negatively with a cut of over 1% on FTSE. Also the US stock futures traded with a drag of up to 0.7% on Nasdaq, pointing to weaker opening for the US markets.

Also, higher US yield also weighed on gold, which fell down to below Rs. 45000 on the MCX.

GoodReturns.in