Sensex declines 200 pts, Nifty below 22,650 amid election jitters

economictimes.indiatimes.com:

equity indices traded lower for the fifth consecutive session on Thursday, dragged down by metal and IT stocks, as investors refrained from making big bets ahead of the outcome of national elections early next week.

The BSE Sensex was trading 202 points, or 0.27%, lower at 75,301. The Nifty50 was down 60 points, or 0.27%, trading at 22,644 around 9:19 am.

From the Sensex pack, Tata Steel, Power Grid, JSW Steel, Titan, and Infosys opened with losses, falling up to 2.5%.

Tata Steel shares fell 2.5% after the firm reported a 64% fall in its consolidated net profit to Rs 611 crore in Q4 FY24, compared to Rs 1,705 crore reported in the same quarter a year earlier.

Kfin Technologies shares declined by 6% in early trade amid reports that global private equity firm General Atlantic likely sold up to 6.8% equity in the firm at an estimated floor price of Rs 712.5 per share.

Sector-wise, Nifty Metal fell 1.2%, dragged down by Tata Steel, Hindustan Zinc, and JSW Steel. Nifty IT, FMCG, Pharma, Healthcare, and Consumer Durables also opened over 0.5% lower.


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