Sensex Shrinks By Over 900 Points; NSE Indices Also Suffer As Markets Close In Deep Red

The markets appear to be in sell-off mode as the Indian indices closed with colossal losses on Tuesday, October 22. This deep decline is largely being attributed to underwhelming Q2 results, FII selling and the uncertainty in the global market owing to the rising tension in the Middle East.

A Look At Day's Trade

The auto and oil sectors were hit the hardest, as Hyundai debuted on a negative note.

As the day came to an end, the BSE Sensex slumped with colossal losses of 930.55 points, or 1.15 per cent, ending the day at 80,220.72. Similarly, the NSE Nifty dropped in value by 309.00 points or 1.25 per cent, to close at 24,472.10.

Additionally, the Nifty Bank also closed with deep cuts. The index closed at 51,257.15, decreasing by 705.55 or 1.36 percent.

Major Gainers and Losers

Gainers: On the BSE tranche, Shree Cement, ICICI Bank and Dmart all closed the day with gains.

Losers: Automobile giant Mahindra & Mahindra closed with losses of 3.62 per cent. Apart from that, Tatat Motors, SBI, Tata Steel and Power Grid made losses of over 2 per cent, as they closed for trading.

Markets In The Morning

The Sensex began the day at 81,155.08 and the Nifty at 24,798.65.

Nifty Bank started the morning session on 52,071.35

Asian Markets

The Asian markets, a lot like the Indian markets, drowned a pool of red as a result of the overwhelming uncertainty. Japan's Nikkei decreased in value by 1.39 per cent or 542.64 points, closing at 38,411.96.

Another Tokyo-based index, TOPIX, closed at 2,651.47, dropping by 1.06 per cent or 28.44 points. As we move to China, the matter looks different; as the CSI 300 Index gained 0.57 per cent or 22.58 points, the index closed at 3,957.78. The Hang Seng also closed with marginal gains in its numbers, closing with an uptick of 0.10 per cent or 20.49 points, at 20,498.95.

Shanghai-based SSE Composite also ended the day's trade in the green, with gains. The index rose in value by 0.54 per cent or 17.76 points of its value and closed at 3,285.87. South Korea's KOSPI once again descended into red to close for the day's trade with major losses of 1.31 per cent or 34.22 points, rising to 2,570.70.