© Reuters.
The bearish trend in Indian equities continued for the sixth consecutive session on Thursday, influenced by global market trends and tensions arising from the Israel-Hamas conflict. The index experienced a substantial drop of over 450 points, while the NSE Nifty 50 fell below the crucial level of 19,000 points.
Despite the general downward trend, shares of Axis Bank surged following a reported Q2 net profit increase of 10% to Rs 5,329.8 crore (Rs 1 crore = $120,127). This rise in Axis Bank’s shares stood in stark contrast to the overall market performance.
As of 9:25 am on Thursday, Sensex was down by 457.30 points or 0.71% at 63,591.76 and Nifty50 was down by 154.90 points or 0.81% at 18,967.25. The bearish trend persisted throughout the day until closing, with Sensex ending at 63,641.31 (down by 407.75 points or 0.64%) and Nifty50 closing at a lower mark of 19,002.50 (down by 119.65 points or 0.63%).
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