Indian equity benchmarks on Monday plunged sharply amid mixed cues from the global markets. Asian stocks were mixed as Hong Kong's Hang Seng Index dropped 0.83 per cent, while Japan's Nikkei index rose 1.07 per cent.
The domestic indices failed to carry forward the upward momentum - recorded in the previous session - as global investors remained on edge after higher-than-expected US inflation data added to economic growth worries.
Fresh personal consumption expenditures (PCE) price index data, tracked by the US Federal Reserve as it considers more interest rate hikes, showed a rise of 0.3 per cent in August.
Rising crude oil rates also turned investors jittery. Oil prices rose more than 3 per cent today, as OPEC+ considers cutting output by more than 1 million barrels a day for its biggest reduction since the pandemic, in a bid to support the market. Brent crude traded at slightly above $88.5 per barrel mark, while US WTI crude stood at near $83 a barrel.
US stocks futures hinted at a cautious start for Wall Street. S&P Futures edged 0.35 per cent higher, Nasdaq futures fell 0.20 per cent and Dow Futures climbed 0.41 per cent.
Back home, the benchmark BSE Sensex slumped 638 points or 1.11 per cent to close at 56,789 today, while the broader NSE Nifty moved 207 points or 1.21 per cent lower to settle at 16,887.
Here are the share market Live highlights:
The overall market breadth stood weak as 1,439 shares advanced while 2,111 declined on BSE. The market capitalization (m-cap) of BSE listed companies stood at Rs 268.28 lakh crore.
13 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty FMCG and Nifty Metal underperformed the NSE platform by falling as much as 2.09 per cent and 3.02 per cent, respectively. However, Nifty Pharma and Nifty HealthCare climbed as much as 1.13 per cent and 0.83 per cent.
Mid- and small-cap shares finished on a lower note as Nifty Midcap 100 slipped 1.25 per cent and small-cap fell 0.66 per cent.
On the stock-specific front, Adani Enterprises was the top Nifty loser as the stock cracked 8.42 per cent to close at Rs 3,164.75. Eicher Motors, Adani Ports, Tata Consumer Products and Maruti were also among the laggards. In contrast, ONGC, Dr Reddy's, Cipla, BPCL and Coal India were among the top gainers.
Sensex plunges 638 points or 1.11 per cent to close at 56,789, Nifty moves 207 points or 1.21 per cent lower to settle at 16,887
Maruti, Hindustan Unilever, Kotak Mahindra Bank, ITC, SBI, IndusInd Bank, ICICI Bank, L&T, Bajaj Finance, Bajaj Finserv, Titan and M&M were among the top laggards on BSE. In contrast, Dr Reddy's, Bharti Airtel, NTPC, Wipro, Sun Pharma and UltraTech Cement were among the gainers.
Sensex plunges 522 points or 0.91 per cent to trade at 56,905, Nifty moves 164 points or 0.96 per cent lower to trade at 16,930
Shares of Tata Motors were in focus today after the firm reported a 44 per cent rise in domestic sales to 80,633 units in September. The company logged its highest ever monthly sales led by record sales of Nexon and Punch. (Read more)
Shares of Adani Enterprises tanked 5.08 per cent to trade at Rs 3,275.80.
Sensex slips 217 points or 0.38 per cent to trade at 57,210, Nifty moves 65 points or 0.38 per cent lower to trade at 17,029
Sensex falls 181 points or 0.31 per cent to trade at 57,246, Nifty moves 40 points or 0.23 per cent lower to trade at 17,055
Sensex tanks 505 points or 0.88 per cent to trade at 56,922, Nifty moves 141 points or 0.82 per cent lower to trade at 16,954
10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty IT and Nifty Metal were underperforming the NSE platform by falling as much as 1.11 per cent, 1.15 per cent, 1 per cent and 1.21 per cent respectively. In contrast, Nifty Pharma and Nifty Oil & Gas were trading as much as 1.59 per cent and 0.56 per cent higher, each.
The overall market breadth stood slightly positive as 1,639 shares were seen advancing while 1,536 were declining on BSE.
Mid- and small-cap shares were weak as Nifty Midcap 100 fell 0.24 per cent and small-cap edged 0.07 per cent lower.
Shares of APL Apollo Tubes rose over 4 per cent in early trade today after the firm logged its highest ever quarterly sales volume for the period ended July to September 2022. APL Apollo Tubes stock gained 4.3 per cent to Rs 1,082 against the previous close of Rs 1,036.45 on BSE. (Read more)
"We see 16,980 and 17,100 as critical pivots for the day. Initial trades closer to 17,100 will improve confidence in a 17,170 breach today, setting off on a 17,350 run up," Anand James - Chief Market Strategist at Geojit Financial Services. Alternatively, inability to float above 16,980 would raise the possibilities towards a 16,300 plunge, he added.
Sensex tanks 405 points or 0.71 per cent to trade at 57,022, Nifty moves 114 points or 0.67 per cent lower to trade at 16,981
Benchmark indices staged a stellar recovery on Friday following the Reserve Bank of India's interest rate decision. Sensex and Nifty closed higher after seven consecutive sessions of fall. (Read more)
Hindalco, Kotak Mahindra Bank, M&M, IndusInd Bank and TCS were among the top losers on the NSE platform today with their shares down as much as 2.24 per cent. ONGC, Eicher Motors, Apollo Hospitals, Hindustan Unilever and NTPC were among the top gainers.
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