Finance
Stock Market Crash Highlights, Thursday November 28, 2024: The benchmark equity indices, the BSE Sensex and the NSE Nifty50, fell dramatically and closed down by more than 1% on the monthly futures and options expiry day, pulled down by weakness in global markets on Thursday.
The BSE Sensex fell 1,190 points, or 1.48 percent, to close at 79,043.74. Throughout the day, the index moved between 80,447.40 and 78,918.92.
Similarly, the NSE Nifty50 closed down 360.75 points, or 1.49 percent, at 23,914.15, after trading in the range of 24,345.75 to 23,873.35.
The market decline was also driven by geopolitical concerns, as Russia launched major missile and drone attacks on Ukraine’s energy infrastructure on Thursday, officials claimed. Fears are growing over Moscow’s ambitions to damage the country’s electricity generation capacity before winter.
Aside from that, the NSE’s monthly futures and options expiry pressure dampened market confidence.
The day finished in favor of the bears, with 46 of the 50 Nifty50 member equities closing in the red. Top laggards included SBI Life, Infosys, HDFC Life, Mahindra & Mahindra, and Adani Ports, with losses of up as 5.41 percent. Adani Enterprises, Shriram Finance, State Bank of India, and Cipla were the only four companies to post increases of up to 1.63 percent.
Among the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices finished with 0.05 percent advances each.
IT companies took the brunt of the sectoral indices’ losses, with the Nifty IT index falling by more than 2%. This was followed by the Nifty Auto, Financials, Private Bank, Consumer Durables, and Healthcare indices. Notably, the Nifty PSU Bank and Media indices closed in the green, with gains of up to 0.93 percent.
Source: BS
