Stock Market Updates: Sensex tanks over 650 points, Nifty below 18,000; ITC slips 5%

Benchmark indices were trading lower in the afternoon trade today. At 12:28 hours, Sensex declined over 650 points to 60,448.86 and Nifty slipped 217 points to 17,993.60.

ITC was the top loser in the Sensex pack, shedding over 5 per cent, followed by Titan, SBI, ICICI Bank, Kotak Mahindra Bank and Axis Bank.

On the other hand, IndusInd Bank and L&T were among the gainers.

Out of 30 shares, 23 were trading in the red.

ITC shares declined 5 per cent after the company reported earnings for the quarter ended September 2021. The company reported a 13.7 per cent year-on-year (YoY) rise in net profit for the July-September quarter at Rs 3,697 crore on the back of a strong pick up across all operating segments after severe disruptions in the preceding June quarter.

BSE mid-cap and small-cap indices were down 188 points and 298 points, respectively. All the sectoral indices were trading in red on NSE.

Sensex tumbled 207 points on Wednesday, weighed by losses in Axis Bank, Reliance Industries and Bajaj Finance amid a weak trend in global markets.

Sensex closed 206.93 points lower at 61,143.33 and Nifty fell 57.45 points to 18,210.95.

Foreign institutional investors (FIIs) sold shares worth Rs 1,913 crore on October 27, and domestic institutional investors (DIIs) bought shares worth Rs 472 crore, as per provisional data available on NSE.