BUSINESS
The benchmark Sensex today fell 251 points, its biggest drop in six days, to end at 25,062.67 weighed down by losses in ONGC and RIL shares after the government deferred a decision to hike natural gas prices and caution prevailed on the last day of June derivative contracts. Brokers said a sudden gust of selling at the fag-end in realty, banking and metal shares also pulled down indices.
The benchmark Sensex today fell 251 pts, its biggest drop in six days, to end at 25,062.67 weighed down by losses in ONGC and RIL shares after the government deferred a decision to hike natural gas prices and caution prevailed on the last day of June derivative contracts. Brokers said a sudden gust of selling at the fag-end in realty, banking and metal shares also pulled down indices.
The BSE 30-share barometer resumed lower and remained in negative terrain throughout the day before falling sharply at the end to settle at 25,062.67, a net drop of 251.07 points or 0.99 per cent. In six out of last straight seven trading sessions, the Sensex has showed a bearish trend. The index's drop today was its steepest since 274.94-point fall on June 18. Shares of gas producers were at the receiving end after the Cabinet Committee on Economic Affairs last evening postponed a hike in natural gas prices by 3 months and decided comprehensive discussions were necessary on the issue.
"This (postponement of decision) has been taken negatively by the market, as it was contrary to the general expectations," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio. All ten shares from sectoral S&P BSE Oil&Gas index ended with losses between 0.81 pct and 5.89 per cent. Sensex constituents RIL and ONGC contributed almost 150 points to the Sensex fall today
Other Sensex-based counters like HDFC, HDFC Bank, ICICI Bank, Infosys, Tata Motors, SBI, NTPC, Gail India and Coal India too suffered marked losses. Profit-booking on the last day of derivatives contract
also weighed on the market. As markets enter the July series, volatility is expected to remain high on account of the Union Budget, said Sahaj Agrawal, Deputy Vice President- Derivatives Research, Kotak Securities.
"The sentiment today further deteriorated after an update on weak monsoon by IMD," said Jayant Manglik, President-retail distribution, Religare Securities. The broader 50-issue CNX Nifty of the NSE tumbled 76.05
points to end at nearly three-week low of 7,493.20. The Nifty's drop today was its sharpest since 107.80-point loss on June 13.
Iran-Israel War: IDF Chief Zamir issues BIG statement, says, 'Israelis must prepare for...'
International Yoga Day 2025: Date, theme, history, significance and more
This man married and divorced the same woman 4 times within 37 days just to get...
Watch: Ben Stokes' hilarious reaction to Rishabh Pant's boundary goes viral
IND vs ENG: Yashasvi Jaiswal slams century in 1st Test, joins elite list featuring Sachin Tendulkar
SHOCKING!: Ex-RAW head congratulates Pakistan Army chief, praises Asim Munir for...
Uric acid levels too high? Know the causes, symptoms and ways to control
Will you feel ashamed for speaking English? Amit Shah says..., Rahul Gandhi retorts by saying...
Iran Israel War: Tehran takes BIG step for Indian citizens stranded in Iran, allows...
Temba Bavuma suffers BIG setback days after winning WTC final against Australia
Asia’s cleanest village has 94% literacy, It is located in..., not Japan, South Korea, Singapore
Who taught Keshav Mittal? Viral video of NEET AIR 7 topper leaves internet confused
Who fixed Donald Trump-Asim Munir meeting? Know Pakistan-born man who praises Narendra Modi
IND vs ENG: Yograj Singh makes big statement on skipper Shubman Gill over his captaincy debut
'He shouldn't have...': Sachin Tendulkar makes BIG statement on Virat Kohli's Test retirement
Easy weight loss hacks: Can drinking water really help you lose weight? Know what experts suggest
This mantra helps Google CEO Sundar Pichai stay calm under pressure: 'The higher up you...'
Meet Charulata beautiful wife of Rajasthan Royals star, who works as...; know their love story
What is Bazball in cricket? Know everything about highly trending word during IND vs ENG Test series
IND vs ENG: Why are India-England players wearing black armbands on Day 1 in Leeds Test?
Priyanka Chopra says how she lost ‘chunk’ of her eyebrow: 'Could have been my...'
Israel-Iran war: Why did Iran attack Beersheba? Is there any nuclear angle?
Viral: Ramen noodles package comes with THIS deadly warning, video leaves netizens in shock, watch
When Jaya Bachchan slapped Rekha after she saw her with Amitabh Bachchan at..., then…
CSK's MS Dhoni to be replaced by this Rajasthan Royals player in IPL 2026? Here's the truth
Wooden Street Crosses Over 10,000 Sofa Cum Bed Deliveries Across India
Get competitive gold loan interest in Pune with Bajaj Finance
When will US join Israel-Iran War? Donald Trump Says..., Middle East conflict explained in 10 points
EMI Calculator for Personal Loans: A Must-Have Tool Before You Borrow
Air India cancels multiple domestic, international flights due to... Here's the full list
Ram Kapoor breaks his silence on 'fallout' with Ekta Kapoor: 'You cannot forget...'
Is Little Pepe ($LILPEPE) a Good Investment in June 2025? Where and How to Buy This Meme Coin
Salman Khan faces security breach, man tries to... at Sitaare Zameen Par premiere: Watch
Who was Tanya Tyagi? Indian student dies in Canada due to..., here's what we know so far
Australia announce major changes in team for 1st Test against West Indies: Check full squad