Sensex tanks over 1000 pts in opening trade

May 19, 2022 09:58

Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging over 1000 points in early trade.

Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment.

The 30-share BSE benchmark was trading 1,024.99 points while the broader NSE Nifty tumbled 306.75 points.

From the Sensex firms, Tech Mahindra, Bajaj Finserv, Infosys, Wipro, Tata Steel, HCL Technologies, Bajaj Finance and State Bank of India were the major laggards in early trade. ITC emerged as the only gainer from the 30-share pack.

Asian markets in Seoul, Shanghai, Hong Kong and Tokyo were also trading lower.

Stock exchanges in the US had ended significantly lower on Wednesday.

"US markets saw the worst sell-off since June 2020 as inflation fear looms," said Mohit Nigam, Head - PMS, Hem Securities.

Meanwhile, international oil benchmark Brent crude gained 1.61 per cent to USD 110.87 per barrel.

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