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Sensex Falls 500 Points, Nifty Below 17,800; Banking, Finance & Realty Stocks Under Pressure
Fri, 19 Aug 01:30 pm

Sensex Falls 500 Points, Nifty Below 17,800; Banking, Finance & Realty Stocks Under Pressure

After trading on a flat note in the first half, share markets in India came under pressure in afternoon deals and are presently trading 1% lower.

Benchmark indices stumbled today as weak Asian markets and negative US stock futures affected sentiment back home while FIIs also offloaded shares.

Foreign institutional investors (FIIs) offloaded shares after many days as they sold shares worth Rs 17.1 bn on Thursday, according to exchange data.

At present, the BSE Sensex is trading down by 506 points, down 1%.

Meanwhile, the NSE Nifty is trading lower by 142 points.

The selling is seen across major sectors, particularly in the banking, finance and realty stocks.

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The fall on broader markets is less severe. The BSE Midcap index is down 0.6%, while the BSE Smallcap index is down 0.5%.

IndusInd Bank and Bajaj Finserv are among the top losers today, down over 2.5%.

HUL, SBI, NTPC and Bajaj Finance are the other major losers, down over 2% each.

Among individual stocks, Adani Power surpassed the state-owned electric utilities company NTPC in terms of market capitalization after a sharp rally seen in the Adani group company.

So far in 2022, Adani Power has rallied over 300%. In fact, all Adani group stocks are rising.

Meanwhile, shares of Tata Chemicals hit a new high on strong business outlook.

The Tata group company surpassed its previous high of Rs 1,159.95 touched on 12 August 2022.

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