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  • Stock Market Updates: Sensex Down Over 150 pts, Nifty Below 19,650; Vedanta Drops 4% – News18

Stock Market Updates: Sensex Down Over 150 pts, Nifty Below 19,650; Vedanta Drops 4% – News18

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Last Updated: September 27, 2023, 09:27 IST

Stock Market Plunge: Sensex and Nifty in Red

Stock Market Plunge: Sensex and Nifty in Red

The benchmark S&P BSE Sensex started Wednesday with losses led by Tech M, HDFC Bank, Titan, Bajaj Finance

Sensex Today: The benchmark S&P BSE Sensex started Wednesday with losses led by Tech M, HDFC Bank, Titan, Bajaj Finance, Tech M, Nestle, Axis Bank, and ICICI Bank. The index was quoting at 65,788, down 158 points or 0.24 per cent in early deals.

The Nifty50, meanwhile, was lower by a similar percentage at 19,620 levels.

The broader Nifty MidCap and SmallCap indices, on the other hand, were ruling higher by 0.11 per cent and 0.24 per cent, respectively.

Among individual stocks, shares of Delta Corp rebounded after two straight sessions of losses. Reports, however, suggest that the tax demand from these firms could top Rs 1 trillion.

Besides, those of Vedanta dropped 4 per cent after Moody’s Investors Service downgraded the corporate family rating for Anil Agarwal-promoted Vedanta Resources in the absence of any meaningful progress on refinancing its upcoming debt maturities.

Sectorally, the Nifty Metal index was the biggest laggard, down 0.5 per cent, followed by the Nifty Financial Services index (0.4 per cent).

Global Cues

Asia Pacific markets are nursing losses Wednesday, after fears of the US government shut down hammered Wall Street stocks overnight.

Nikkei, Kospi, and ASX 200 were down in the range of 0.3 per cent to 0.75 per cent, while Hang Seng was up 0.03 per cent.

Wall Street ended lower Tuesday as investors grappled with the possibility of a US government shutdown that could take place as early as October 1 if Congress doesn’t agree on a spending bill.

Besides, latest home sales data and consumer confidence report missed estimates, stoking concern over the state of the US economy.

The Dow lost 1.14 per cent, it’s worst one-day show since March, while the S&P 500 slipped 1.47 per cent, and the Nasdaq Composite pulled back 1.57 per cent.

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