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Taking Stock | Market sinks deeper into the red; Sensex tanks 843 points, Nifty below 17,000

All sectoral indices ended in the red. Nifty bank, auto, metal, PSU bank, energy, information technology and pharma were down 1-2 percent

October 11, 2022 / 04:36 PM IST

The Indian equity benchmarks fell for third straight session on October 11 on weak global cues and selling across sectors as investors turn risk-averse fearing an economic slump.

The recent escalation in the Russia-Ukraine war and the Bank of England’s decision to extend bond purchase also hit the sentiment.

At close, the Sensex was down 843.79 points, or 1.46 percent, at 57,147.32, and the Nifty was down 257.50 points, or 1.49 percent, at 16,983.50.

"Investors are becoming risk-averse due to rising geopolitical turmoil as well as worries about the global economic slump. Investors' caution ahead of the announcement of inflation data prevented a better-than-expected start to IT earnings from improving market mood," said Vinod Nair, Head of Research at Geojit Financial Services.