MUMBAI: Equity benchmark Sensex cracked over 1,000 points to dive below the 77,000 level on Monday, tracking heavy selling in global equities and a spike in international crude prices.
A strong US jobs data that dampened early rate cut expectations, the rupee logging its steepest single-day fall in nearly two years and unabated foreign fund outflows also dampened investors’ sentiment.
Falling for the fourth straight session, the 30-share BSE benchmark Sensex tanked 1,048.90 points or 1.36 per cent to finally settle at 76,330.01.
During the day, it plunged 1,129.19 points or 1.45 per cent to 76,249.72.
The NSE Nifty dropped 345.55 points or 1.47 per cent to close at 23,085.95.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent.
Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards.
In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
“The global markets witnessed a significant sell-off, prompting a similar response in domestic markets due to strong US payroll data suggesting fewer rate cuts in 2025. This has strengthened the dollar, driven up bond yields, and made emerging markets less attractive. Recent GDP downgrades and slowing earnings amidst higher valuations are weighing heavily on market sentiment,” Vinod Nair, Head of Research, Geojit Financial Services, said.
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