Sensex Nifty fall for 3rd straight day on inflation rate hike worries
Mumbai Mar 25 PTI Benchmark indices Sensex and Nifty declined for a third straight day on Friday due to profit taking in consumer durables FMCG banking and IT shares amid lingering worries over commodity prices interest rate hike and geopolitical tensions The 30-share BSE benchmark dropped 23348 points or 041 per cent to settle at 5736220 During the day it tanked 49544 points to 5710024 The broader NSE Nifty declined 6975 points or 040 per cent to settle at 17153 The equity indices closed the week lower after two straight weeks of gains Sensex fell by 501 points while Nifty closed the week lower by 134 points The Indian equity market continue to be in a grind influenced by and reacting to incremental news flow on the global front especially related to the geopolitical situation and Fed rhetoric The two key challenges and monitorables for the markets in the near term are the persistent inflationary pressures and the rising bond yields said Milind Muchhala Executive Director Julius Baer From the 30-share pack Titan fell the most by 359 per cent Tech Mahindra by 235 per cent Maruti Suzuki India by 179 per cent and Wipro by 118 per cent Among major index downers HDFC Bank declined 076 per cent TCS by 112 per cent and Infosys by 055 per cent ICICI Bank Nestle India Larsen Toubro HCL Technologies Tata Steel and ITC also dropped On the other hand Dr Reddys continued its steller run rising by 077 per cent Asian Paints rose 076 per cent and Reliance Industries by 073 per cent Bharti Airtel State Bank of India and Kotak Mahindra Bank also advanced After the recent 10 per cent rally the market has turned sideways with a negative bias due to increase in commodity prices tightening monetary policy and inflationary pressure Domestic market is showing strong resilience but to sustain the trend a lot will depend on the outcome of the war and commodity prices said Vinod Nair Head of Research at Geojit Financial Services In the broader market the BSE midcap dipped 036 per cent and smallcap gauge declined 033 per cent A total of 2078 declined while 1329 advanced and 103 remained unchanged Among BSE sectoral indices consumer durables declined the most by 228 per cent followed by capital goods 095 per cent FMCG 072 per cent and Information Technology 068 per cent Elsewhere in Asia bourses in Shanghai and Hong Kong ended lower while Tokyo and Seoul settled with marginal gains Stock exchanges in the US ended higher in the overnight session Meanwhile international oil benchmark Brent crude declined 144 per cent to USD 11732 per barrel Foreign institutional investors FIIs turned net sellers in the capital market as they sold shares worth Rs 174071 crore on Thursday according to stock exchange data PTI SUM MR
Mumbai Mar 25 PTI Benchmark indices Sensex and Nifty declined for a third straight day on Friday due to profit taking in consumer durables FMCG banking and IT shares amid lingering worries over commodity prices interest rate hike and geopolitical tensions The 30-share BSE benchmark dropped 23348 points or 041 per cent to settle at 5736220 During the day it tanked 49544 points to 5710024 The broader NSE Nifty declined 6975 points or 040 per cent to settle at 17153 The equity indices closed the week lower after two straight weeks of gains Sensex fell by 501 points while Nifty closed the week lower by 134 points The Indian equity market continue to be in a grind influenced by and reacting to incremental news flow on the global front especially related to the geopolitical situation and Fed rhetoric The two key challenges and monitorables for the markets in the near term are the persistent inflationary pressures and the rising bond yields said Milind Muchhala Executive Director Julius Baer From the 30-share pack Titan fell the most by 359 per cent Tech Mahindra by 235 per cent Maruti Suzuki India by 179 per cent and Wipro by 118 per cent Among major index downers HDFC Bank declined 076 per cent TCS by 112 per cent and Infosys by 055 per cent ICICI Bank Nestle India Larsen Toubro HCL Technologies Tata Steel and ITC also dropped On the other hand Dr Reddys continued its steller run rising by 077 per cent Asian Paints rose 076 per cent and Reliance Industries by 073 per cent Bharti Airtel State Bank of India and Kotak Mahindra Bank also advanced After the recent 10 per cent rally the market has turned sideways with a negative bias due to increase in commodity prices tightening monetary policy and inflationary pressure Domestic market is showing strong resilience but to sustain the trend a lot will depend on the outcome of the war and commodity prices said Vinod Nair Head of Research at Geojit Financial Services In the broader market the BSE midcap dipped 036 per cent and smallcap gauge declined 033 per cent A total of 2078 declined while 1329 advanced and 103 remained unchanged Among BSE sectoral indices consumer durables declined the most by 228 per cent followed by capital goods 095 per cent FMCG 072 per cent and Information Technology 068 per cent Elsewhere in Asia bourses in Shanghai and Hong Kong ended lower while Tokyo and Seoul settled with marginal gains Stock exchanges in the US ended higher in the overnight session Meanwhile international oil benchmark Brent crude declined 144 per cent to USD 11732 per barrel Foreign institutional investors FIIs turned net sellers in the capital market as they sold shares worth Rs 174071 crore on Thursday according to stock exchange data PTI SUM MR
