MARKET LIVE: Sensex down 500pts, Nifty50 below 17,650; Infosys, TCS slip 2%

By On Sep 1, 2022

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Bears pulled markets lower on Thursday amid weak global sentiments. Frontline indices Nifty50 opened over 200 points lower to trade below 17,550 levels, while the S&P BSE Sensex declined over 800 points to trade at 58,734 levels.

Broader markets, too, declined in tandem as Nifty Smallcap 100 and Nifty Midcap 100 slipped up to 0.5 per cent.

Barring Nifty Realty, all sectoral indices dropped in negative territory. Nifty IT and Nifty Bank faced the worst brunt as both the indices dropped over 1 per cent each.

While Bharti Airtel, Bajaj Finserv, Ultratech Cement, and IndusInd Bank helped benchmark indices trim losses; Infosys, TCS, Reliance Industries, ICICI Bank contributed to the sharp cuts.

Among individual stocks, shares of Ashok Leyland hit 52-week high of Rs 159 per share after the automaker bagged mega order for 1,400 school buses in UAE.

Besides, shares of Biocon hit 52-week low at Rs 297 per share after the pharma major received 11 observations from the US heath regulator.

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