Sensex Down 945 Pts; Sell-Off Continues After 2-Day Hiatus

The Indian benchmark indices are again trading in red today followed by intensive selling activity in the morning trade.

As of 10:30 AM, Sensex was down by 945.35 points at 79,432.78, while Nifty was trading at 24,189.20 points, down 1.12%. The intensive sell-off comes as a result of uncertainty surrounding the US Fed meeting, which is set to take place today. The nervousness can also be attributed towards the shift in policies as Donald Trump is set to become the 47th President of the United States.

Apollo Hospitals, Tata Steel, HCL Tech, TCS, and Wipro were the top gainers on the NSE, while Hindalco, Adani Enterprises, Power Grid, BEL, and BPCL are trading in red.

Stocks to Watch

Shares of Hindalco slipped by 6.5% as its US-based arm Novelis reported an 18% decline in net profit during Q2. Tata Steel was trading in green after reporting a net profit of ₹758.84 crore for the September quarter. The steel major reported a net loss of ₹6,511.16 crore in the same quarter last year. Total income stood at ₹54,503.30 crore as compared to ₹55,910.16 crore a year ago in the same period.

Notably, Tata Steel reduced its expenses to ₹52,331.58 crore as compared to ₹55,853.35 crore a year earlier.