BSE SENSEX PLUNGES 670 POINTS, NIFTY50 BELOW 21,600
BSE Sensex and Nifty50 saw significant declines in trade on Monday, a bearish start to the second week of 2024. BSE Sensex plunged over 700 points to the day’s low of 71,301.04, before settling the day at 71,355.22, down over 670 points or 0.93%. Nifty50 declined 0.91% or 197.80 points to close the day at 21,513. Investors chose to book profits due to weak global market trends and caution ahead of quarterly earnings announcements. The Sensex and Nifty 50 each dropped nearly 1%. This selling pressure led to a surge of almost 7% in the India VIX volatility gauge, surpassing 13 points, with a high of 13.5075 points.
In terms of sectoral performance, a majority of the sectoral indices experienced losses, particularly public sector stocks, banks, metals, and fast-moving consumer goods. The S&P BSE PSU, Healthcare, Metal, Bankex, and FMCG indices saw declines ranging from 1% to 1.6%. Out of the 30 Sensex stocks, 24 ended in the red, including heavyweight stocks like Infosys, Reliance Industries, HDFC Bank, ICICI Bank, TCS, Hindustan Unilever, ITC, and SBI, which saw losses of 1% to 2%.
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