At the concluding toll of the Sensex, amidst the weekly cessation of futures trading, the venerable gauges, Sensex and Nifty, relinquished 1.5% of their valor. Upon Thursday’s eve, the BSE Sensex relinquished 1,062.22 (1.44%) points to find its repose at 72,404.17 points, whilst Nifty descended by 345.00 (1.55%) points, closing its day’s odyssey at 21,957.50. The indigenous stock market witnessed a formidable descent during the day’s dealings. The chief benchmarks, Sensex and Nifty, were beset by a 1.5% descent during this epoch. On Thursday, BSE Sensex regressed by 1,062.22 (1.44%) points, concluding at 72,404.17 points, while Nifty abated by 345.00 (1.55%) points, settling at 21,957.50. As per pundits, mounting uncertainty among investors, spurred by the forthcoming Lok Sabha election results and the quarterly performance of corporations, enshrouded the market sentiment, precipitating its downturn. India VIX, the index of volatility, ascended by 6.5% to reach 18.20, marking its 11th consecutive surge. Dalal Street aficionados suffered a staggering deficit of roughly Rs 7.3 trillion during Thursday’s trading spell. Throughout this juncture, the market capitalization of entities enlisted in BSE Sensex dwindled from Rs 400 trillion to Rs 393.73 trillion. HDFC Bank and L&T, the dual titans of the stock market, bore the brunt of Thursday’s downturn. L&T’s shares plummeted by 6% owing to lackluster results in the fourth quarter, culminating in a post-trading session decline of 197 points, with closure at Rs 3,289.95. The market further wilted under augmented selling pressure in the shares of Reliance Industries and ITC.
Regarding HPCL, a dividend of one share shall be conferred for every two shares held. The profit of Hindustan Petroleum Corporation Ltd. (HPCL) witnessed a 25% slump, dwindling to Rs 2,709 crore, ascribed to the deflation in petrol and diesel prices. The total profit for the fiscal year amounted to Rs 16,014 crore. The enterprise shall grant a bonus share for every two shares held.
