Stock Market Highlights: Sensex Drops 166 Points, Nifty Below 24,000; Financial Stocks Drag

Stock Market LIVE Updates: Equity benchmark indices, the BSE Sensex and the NSE Nifty50, pared early gains to settle in the red on Tuesday. The BSE Sensex ended at 78,593, down 166 points or 0.21 per cent. The index jumped 1.38 per cent to hit the day’s high of 79,852.08 during intraday trade.

The NSE Nifty50, on the other hand, ended 63 points or 0.26 per cent down at 23,992. It had climbed 1.35 per cent to the day’s high of 24,382.6 during intraday trade.

Global Cues

Markets in Asia-Pacific saw a big revival with Japan’s markets leading the advances in the region. The Nikkei 225 soared 9.87 per cent and broad based Topix surged 9.95 per cent. Japan’s stocks recovered sharply after the Nikkei 225 and Topix had plunged more than 12 per cent in the previous session.

Overnight in the US, the 30-stock Dow and the S&P 500 experienced their worst sessions since September 2022. The Dow closed 2.6 per cent lower, while the S&P 500 dropped 3 per cent. The Nasdaq Composite declined 3.43 per cent.

However, the S&P 500 futures rebounded in overnight trading following the broad index’s worst day in nearly two years – signalling a revival for US markets in the upcoming session. Futures for the S&P 500 increased by 0.9 per cent, Nasdaq 100 futures surged 1.3 per cent, and Dow Jones Industrial Average futures climbed 0.6 per cent.