MARKET LIVE: Sensex down 400pts, Nifty below 18,050; Axis Bank slips 2%

3 weeks ago 22

Bears weighed domestic markets lower in Thursday's intra-day trade amid weak global cues.  

Key indices Nifty50 declined over 50 points to trade below 18,100 levels, whereas the S&P BSE Sensex tumbled over 450 points to trade below 61,000 levels.  

Broader markets, too, slipped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.5 per cent. Volatility gauge, India VIX, meanwhile, gained over 2 per cent.  

Barring Nifty Pharma index, all sectors plunged in negative territory, with Nifty Auto index declining the most, over 1 per cent.

Among individual stocks, shares of Axis Bank dipped nearly 4 per cent after the government, via Specified Undertaking of the Unit Trust of India (SUUTI), initiated sale of over 1 per cent stake in the company via offer for sale (OFS) route. READ MORE

Besides, shares of Tata Motors slipped 5 per cent after the auto major reported higher-than-expected loss at a consolidated level for Q2FY23. READ MORE

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