Sensex slumps 984 points to close at more than 4-month low – The Tribune-OxBig News Network

Benchmark Sensex plunged 984 points to close at a more than four-month low on Wednesday following heavy selling in banking, auto and capital goods shares amid retail inflation soaring to a 14-month high in October and unabated foreign fund outflows.

The BSE Sensex slid to 77,690.95, down by 984.23 points or 1.25 per cent, marking its second straight day of losses. During the day, it slumped 1,141.88 points or 1.45 per cent to 77,533.30.

Registering its fifth day of decline, the NSE Nifty tumbled 324.40 points or 1.36 per cent to 23,559.05, a level not seen since June 24, 2024.

From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards.

Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.

The latest data showed retail inflation breached the Reserve Bank’s upper tolerance level, soaring to a 14-month high of 6.21 per cent in October, mainly on account of rising food prices.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,024.31 crore on Tuesday, according to exchange data.