Benchmark stock market indices opened the last trading session of the week on a negative note as Asian markets plunged due to a sharp sell-off in US technology stocks.
The S&P BSE Sensex was down 643.80 points at 81,223.75 at 9:15 am, while the NSE Nifty50 fell 208.90 points to trade at 24,802.
Most of the other broader market indices were also trading in the red.
High-weightage sectoral indices such as Nifty IT, Nifty Bank and Nifty Financial Services tumbled as volatility rose sharply.
The top five gainers on the Nifty50 were HDFC Bank, Divi’s Laboratories, Apollo Hospitals, Sun Pharma and Dr Reddy’s.
On the other hand, the top losers were Tata Motors, Eicher Motors, Maruti, JSW Steel and Tata Steel.
Shares of Zomato hit a record high after rallying over 17% during intraday trade after it reported a multifold rise in profit in Q1FY25.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The sudden turn for the worse for the US economy reflected in the ISM Manufacturing index dipping sharply to 46.6 spooked the US and other developed country markets yesterday.”
