Sensex, Nifty Plunge 1% as Hot US Inflation Data Spooks Investors

12 Apr 2024 , 03:49 PM

On April 12, benchmark indices Sensex and Nifty witnessed a broad-based selloff, declining a% as investors’ risk appetite waned following hotter-than-expected US inflation data. The surge in treasury yields dashed hopes of a June rate cut, further dampening market sentiment.

At the close of trading, the Sensex plummeted by 793.25 points or 1.06% to reach 74,244.90, while the Nifty dropped by 234.40 points or 1.03% to settle at 22,519.40. Among the traded stocks, 1305 advanced, 1988 declined, and 68 remained unchanged.

The Nifty’s biggest losers included Sun Pharma, Maruti Suzuki, Power Grid Corporation, Titan Company, and ONGC, while gainers were led by Divis Labs, Tata Consumer Products, Bajaj Auto, Tata Motors, and TCS.

All sectoral indices ended the day in the red, with bank, healthcare, FMCG, media, realty, and oil & gas sectors declining by 1% each. Additionally, the BSE Midcap and Smallcap indices fell by 0.5% each, contributing to the overall negative market sentiment.