sensex news today: ET Market Watch: Sensex down 667 pts, Nifty drops 183 points; IT stocks bleed

Estimated read time 5 min read

Welcome to a fresh episode of ET Market Watch! Your daily dose of market updates, stock movements, trends & more. This is your host Neha V Mahajan, Let’s dive into it:

Indian markets closed lower for the fourth consecutive session, with the BSE Sensex declining by 667 points and the NSE Nifty dropping by 183 points. Heavyweight financials and IT stocks led the decline, with ICICI Bank, HDFC Bank, Reliance Industries, Infosys, Axis Bank, L&T, and TCS contributing to the downward trend.

Sectoral performance
Sector-wise, Nifty Financial Services, IT, Private Bank, and Oil & Gas sectors declined, while Nifty Media, Metal, and Healthcare sectors closed higher.

In the broader market, Nifty Midcap 100 fell by 0.32%, while Nifty Smallcap 100 rose by 0.06%.

Paytm shares closed with a 5% upper circuit amid reports of a potential stake acquisition by Adani Group chairman, Gautam Adani.

World markets
U.S. government bond yields rose to a near four-week peak, with the benchmark 10-year U.S. Treasury yield reaching 4.576%, fueled by doubts about the timing and extent of Federal Reserve rate cuts.

Brent crude futures for July delivery rose 74 cents to $84.96 a barrel.
U.S. WTI futures for July climbed 69 cents to $80.52.
Both benchmarks gained over 1% on Tuesday.
The increase was driven by expected output cuts and peak summer demand.

The Indian rupee saw its biggest daily decline against the U.S. dollar in nearly seven weeks.

The rupee ended at 83.3450 against the USD, the decline was due to persistent dollar demand and election-related risks.

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