Indian share markets continued to witness selling pressure in the afternoon session amid weak international markets. At the closing bell, the BSE Sensex stood lower by 364 points, while the NSE Nifty finished down by 89 points. Meanwhile, both the S&P BSE Mid Cap & S&P BSE Small Cap indices finished down by 0.6%. Losses were largely seen in FMCG stocks, realty stocks, and oil & gas stocks.
Cigarette stocks continued to plunge in today's trade with ITC share price finishing down by 12.6% while Godfrey Philips share price and VST Industries share price plunged 5.7% and 7.8% respectively.
ITC erased nearly Rs 500 billion in market value, after many brokerages downgraded the stock and cut their target prices as the government increased cess on cigarettes.
Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.35% and the Hang Seng rose 0.21%. The Nikkei 225 lost 0.59%. European markets are mixed. The FTSE 100 is higher by 0.01%, while the DAX is leading the CAC 40 lower. They are down 0.53% and 0.18% respectively.
The rupee was trading at Rs 64.33 against the US$ in the afternoon session. Oil prices were trading at US$ 46.17 at the time of writing.
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