Stock Market: Sensex Plunges 677 Points, Nifty Around 19,500 On Weak Global Cues

Stock Market: Sensex Plunges 677 Points, Nifty Around 19,500 On Weak Global Cues

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The two key equity benchmarks, Sensex and Nifty, on Wednesday roiled under acute global pressure after rating agency Fitch downgraded credit rating of the US to AA+ from AAA. The S&P BSE Sensex crashed over 1,000 points intra-day before settling at 65,783, down 677 points. On the other hand, the Nifty50 went down to 19,423, eventually closed at 19,527, down 207 points.

On the 30-share Sensex platform, Nestle, HUL, Asian Paints, TechM were the only four which ended in the green. On the downside, Tata Steel, Tata Motors, Bajaj Finserv, NTPC, JSW Steel, SBI were among the top losers.

In the broader markets, the BSE Midcap and Smallcap indices dropped about 1.4 per cent each.

Sectorwise, the Nifty PSU Bank index was the worst hit among a broad-based selling as it fell 2.6 per cent, followed by the Nifty Metal index (down 2 per cent).

In the previous session on Tuesday, the S&P BSE Sensex closed at 66,459, down 68 points, while the NSE Nifty50 settled at 19,734, down 20 points.

 

ALSO READ | Fitch Downgrades US Credit Rating To AA+, Treasury Calls It ‘Arbitrary’



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