Stock market live: In line with the trend emerging over the last four sessions, both Sensex and Nifty widened their losses as the broader market followed suit. BSE Sensex closed 1,062.22 points or 1.46 per cent lower at 72,404.17 and NSE Nifty 50 inch fell 1.55 per cent to 21,957.50 to close at 345.00.
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The India VIX index, which reflects market volatility and investor sentiment, rose 6.56% to 18.20.
On Thursday, May 9th, the Frontline Index opened in mixed territory. BSE Sensex opened 33.10 points or 0.05% higher at 73,499.50 and Nifty opened 77.70 points or 0.35% lower at 22224.80.
In the day’s trading, Larsen & Toubro plunged more than 5%, while SBI rose more than 1% after its March quarter results. From the Sensex basket, Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC, Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards.
Meanwhile, shares of Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were among the top gainers.
In line with the frontline index, the broader market fell nearly 2%. PSU stocks remained among the top laggards, with the PSE index down more than 3%.
Meanwhile, the corporate sector’s performance remains weak, with profits and sales for the quarter ending March 2024 showing slowing growth, according to a Bank of Baroda report.
An analysis of the quarterly financial results of 378 companies showed that profit after tax (PAT) for the fiscal year ending March 2024 increased by 5.8%, compared to the same period last year, by 8.1%.
On Wednesday, foreign institutional investors (FIIs) sold shares worth Rs 6,669.10 crore. Nikkei Shimbun in the Asian market and hansen was trading Profitable meanwhile The Kospi fell.
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