Nifty drops below 23,950, Sensex down by 250 points, and PB Fintech declines 2%

Nifty Slips Below 23,950, Sensex Sheds 250 Points; PB Fintech Dips 2%

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: November 05, 2024

Summary: Amid conflicting global cues, the Indian main equity indices, the BSE Sensex and Nifty 50, fell at the opening bell on Tuesday.

Tuesday's opening bell saw a decline in the Indian major equity indices, the BSE Sensex and Nifty 50, due to conflicting global signals.

The NIfty 50 was down 85.75 points, or 0.36 percent, at 23,909.60, while the BSE Sensex was down 271.63 points, or 0.34 percent, at 78,510.61.

The first trading session of the week saw significant declines in the benchmark equity indices, the BSE Sensex and the Nifty 50, which were both down more than 1% at the close.

To close at 78,782.24, the BSE Sensex dropped as much as 941.88 points, or 1.18 percent. Likewise, the NSE Nifty50 closed at 23,995.35, down 309 points, or 1.27 percent.

At 16.70 points, the fear index, India (VIX), which gauges market volatility, finished the day up 5.01 percent. The S&P/ASX 200 in Australia fell 0.45%.

Markets in Asia-Pacific had uneven trade on Tuesday. The Topix gained 0.8% and Japan's Nikkei 225 increased 1.25 percent. The Kosdaq rose 0.16 percent, but the Kospi fell 0.56% in South Korea.

In October, the nation's consumer inflation increased 1.3% compared to the same month last year, which was just lower than the 1.4% predicted by Reuters.

The Hang Seng Index for Hong Kong increased by 0.44 percent. The Shanghai Composite was up 1.02 percent, and China's CSI 300 was up 1.52 percent.

A US Federal Reserve interest-rate cut is also anticipated later this week, and investors were cautious ahead of the US presidential election, which caused the dollar to weaken and stocks to drop on Monday.

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