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Markets’ bull run ends, sensex crashes 1,066 points: Top reasons behind this slide

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Markets’ bull run ends, sensex crashes 1,066 points: Top reasons behind this slide

Equity indices ended 10-day winning streak on Thursday with the benchmark BSE sensex crashing over 1,000 points, dragged by losses in banking, financial and IT stocks amid weak cues from global markets.

The 30-share BSE index fell 1,066 points or 2.61 per cent to close at 39,728; while the broader NSE Nifty settled 291 points or 2.43 per cent lower at 11,680.

Investors lost Rs 3.25 lakh crore in today’s session as the total market capitalisation of BSE-listed companies fell to Rs 157.31 lakh crore.

Bajaj Finance, Tech Mahindra, IndusInd Bank, ICICI Bank, SBI and Reliance were the top losers in the sensex pack falling over 4.68 per cent. 29 out of 30 stocks finished in red.
While Asian Paints was the only gainer.

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On the NSE platform, all sub-indices finished in red with Nifty Bank, Financial Services, Private Bank and IT falling up to 3.36 per cent.

Global stock markets and US futures declined as hopes US leaders will agree on new economic aid before the November 3 presidential election faded. US Treasury secretary Steven Mnuchin said a fiscal stimulus deal would not be likely made before the November election.

“US stimulus expectations has been a driver lately, but markets are now weighing in the possibility of it being pushed beyond the elections, taking some zing out of the recent momentum from global equities,” James said.

IT, banking and financial stocks reversed course to trade lower as investors locked in gains in a sector that has helped drive a rally in the broader market so far this month.
The Nifty IT index slumped 2.87 per cent, after rallying nearly 6 per cent this month on the back of strong quarterly results and buybacks.

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Infosys Ltd, whose shares hit a record high earlier in the session, reversed course to finish 2.47 per cent lower. The IT giant raised revenue outlook as robust demand for its digital services helped it beat quarterly profit expectations.

Tap To Explore More : TOI

Also Read : DONALD TRUMP DANCING TO YMCA LEAVES TWITTER IN SPLITS, EVOKES FUNNY REACTIONS

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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