CLOSING BELL: Tata Steel fell over 4 per cent, while Asian Paints, Wipro, L&T, Bajaj twins, Ultratech Cement, Axis Bank, Sun Pharma, Tech M, ICICI Bank, & SBI declined in the range of 2-3.5 per cent

Sensex tanks 872pts, Nifty gives up 17,500 amid global sell-off; ITC shines

<b>CLOSING BELL<br />
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Stock market highlights:&nbsp;</b>Investors chose to dump equities on Monday as global macro-economic concerns resurfaced. The S&P BSE Sensex slumped nearly 900 points intra-day before closing at 58,774, down 872 points or 1.46 per cent. All but ITC and Nestle India settled in the negative zone on the 30-pack index.<br />
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	Tata Steel fell over 4 per cent, while Asian Paints, Wipro, L&T, Bajaj twins, Ultratech Cement, Kotak Bank, Axis Bank, Sun Pharma, Tech M, ICICI Bank, and SBI declined in the range of 2-3.8 per cent.<br />
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	On the NSE, the Nifty50 settled below the crucial level of 17,500 at 17,491, down 268 points or 1.51 per cent. The broad-based sell-off was led by the Nifty Metal index (down 3 per cent), the Nifty Realty index (2.7 per cent), and the Nifty PSB index (2.2 per cent).<br />
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	<strong>ALSO READ: <a href="https://www.business-standard.com/article/markets/should-you-fret-over-the-recent-market-sell-off-here-s-what-charts-suggest-122082200387_1.html" target="_blank">Should you fret over the recent market sell-off? Here&#39;s what charts suggest</a></strong><br />
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	In the broader markets, the BSE MidCap index skidded nearly 2 per cent, while the BSE SmallCap index ended 1.15 per cent lower.<br />
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	<strong>Global markets</strong></div>
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	European markets retreated on Monday as fears of more aggressive interest rate hikes from the Federal Reserve and the European Central Bank returned to the fore.<br />
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	<strong>ALSO READ: <a href="https://www.business-standard.com/article/markets/fomo-or-attractive-valuation-what-drew-fiis-back-to-indian-equities-122082200334_1.html" target="_blank">FOMO or attractive valuation? What drew FIIs back to Indian equities?</a></strong><br />
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	The pan-European Stoxx 600 slipped 1.2 per cent by mid-morning, with autos falling 2.8 per cent to lead losses as all sectors and major bourses traded in negative territory.&nbsp;<br />
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	On Wall Street, Nasdaq Futures led the losses with over 1 per cent cut. Earlier in Asia, Nikkei gave up 0.47 per cent, Kospi 1.2 per cent, and and Hang Seng 0.6 per cent.&nbsp;</div>

Business Standard

Sensex tanks 872pts, Nifty gives up 17,500 amid global sell-off; ITC shines | News on Markets - Business Standard

US markets edge lower on  Friday: NASDAQ Composite down 2%

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