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Sensex Falls 900 pts, Nifty Settles Below 17,000; All Sectoral Indices Bleed

By: Aparna Deb

Last Updated: October 11, 2022, 15:43 IST

New Delhi, India

Markets opened on a tepid note

Markets opened on a tepid note

Sensex Today: Key benchmark indices opened flat with a negative bias amid weak global cues, muted foreign flows, and steady crude prices.

Sensex Today: Indian shares fell in early trading on Tuesday, dragged by automobile and energy stocks, in a risk-averse sentiment globally over the impact of high interest rates on economic growth, although gains in IT companies helped cap losses. The Nifty50 was down over 50 points near 17,200 levels, and the S&P BSE Sensex fell over 150 points at 57,800.

The broader markets, too, steered southwards as Nifty MidCap 100 and Nifty SmallCap 100 fell up to 0.4 per cent.

Tata Consultancy Services Ltd swayed between losses and gains, after the IT major said it was seeing some softness in long-term deal decision making, though it reported a bigger-than-expected rise in quarterly profit on Monday.

IT service provider Infosys climbed 0.5% after it said late on Monday it will consider a proposal for share buyback on Thursday when it is scheduled to report its quarterly earnings.

Meanwhile, a Reuters poll found India’s retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India’s tolerance band for a ninth month.

The data is due after market hours on Wednesday.


The Indian rupee closed flat at 82.32 per dollar against the previous close of 82.32.

Global Cues

Shares declined in Asia following a fourth straight drop in US equities amid persistent concern that rising interest rates and geopolitical threats will crimp global growth. Japan’s Topix index dropped 1.4% while South Korea’s Kospi index declined 2%.

Tokyo stocks opened lower on Tuesday after a long weekend, tracking falls on Wall Street as investors braced for more large interest rate hikes from the US Federal Reserve.

US stocks fell on Monday, with the Nasdaq posting its lowest close since July 2020, as investors worried about the impact of higher interest rates and pulled out of chipmakers after the United States announced restrictions aimed at hobbling China’s semiconductor industry.

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    Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6%, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session.

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    first published:October 11, 2022, 09:20 IST
    last updated:October 11, 2022, 15:43 IST