Sensex 74,584.32 and Nifty 23,427.15 slip after profit booking
Business
The Indian stock market had a bumpy ride on Thursday. Both Sensex and Nifty started strong but ended the day in the red.
After hitting morning highs, profit booking kicked in and sent the Sensex down to 74,584.32 and Nifty to 23,427.15 by 10.50am.
FIIs sell over ₹4,700 cr
A lot of investors decided to cash out after recent gains, while foreign institutional investors kept selling big, offloading stocks worth over ₹4,700 crore.
The rupee also hit a record low against the dollar as oil prices climbed and global tensions stayed high.
IT stocks took another hit too, dropping nearly 2%, and market volatility spiked as traders adjusted their positions on Thursday, the weekly expiry day itself.