Taking Stock | Nifty breaks 18,200, Sensex plunges 554 pts; auto, metal, realty drag

Taking Stock | Nifty breaks 18,200, Sensex plunges 554 pts; auto, metal, realty drag

Final hour profit booking dragged the benchmark indices 1 percent on January 18 with Nifty closing below 18,200 and Sensex falling over 500 points amid selling seen across the sectors.

Market opened on a positive note, but wiped out initial gains and turned negative on weak global cues, including rising US treasury yield and oil price at more than seven years high amid supply concern after drone attacked at United Arab Emirates. However, indices managed to regain the lost ground in the afternoon session but final hour selling dragged the indices near the day's low.

At close, the Sensex was down 554.05 points or 0.90% at 60,754.86, and the Nifty was down 195.10 points or 1.07% at 18,113.

"Following a weak lead from the global markets, domestic indices witnessed a highly volatile trade ahead of the press conference by the Finance Minister today. Surge in oil prices and FIIs turning net sellers also added volatility in the domestic market," said Vinod Nair, Head of Research at Geojit Financial Services.

"Globally, markets witnessed selling pressure following a surge in US treasury yield amid rate hike worries while oil prices rose on supply tension owing to the drone attack on UAE," he added.

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