Opening bell: Sensex declines around 200 points in early trade, Nifty at 22,091

Mar15,2024



New Delhi: Equity benchmark indices opened on a negative note on Friday after a correction on Thursday. Sensex fell by almost 200 points to 72,830 in early trade. nifty Was trading at 22,100.
Power Grid Corporation, Tata Steel, NTPC, Tata Motors were among the major gainers in early trade, while Mahindra & Mahindra, Titan, UltraTech and Bajaj Finserv were trading in the red.
Share Market On Thursday, Sensex rose 335 points to 73,097.28 and Nifty closed above 22,100 points after rising 0.68%.
The recovery was mainly driven by buying in IT and capital goods Area. Out of 30 Sensex stocks, 20 closed in the green, while 10 closed in the red. 37 Nifty stocks registered a rise and 13 a decline.
in the middle top gainers Sensex gainers included HCL Technologies, Larsen & Toubro, Infosys, Wipro, Bharti Airtel, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints, which contributed to the market's recovery. On the other hand, Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major losers.
Indian stock markets witnessed a sharp decline on Wednesday, with Sensex falling 1.23% and Nifty falling 1.51% below the 22,000 level. However, the market managed to partially recover on Thursday due to institutional buying and neutralizing leverage-based square-off.
Vinod Nair of Geojit Financial Services noted that wholesale price inflation (WPI) falling to 0.2% in February was a relief and could pave the way for future rate cuts.
Broader market indices including BSE Smallcap and Midcap also saw significant gains, with analysts noting their outperformance compared to the main indices.
Additionally, Fitch Ratings raised India's economic growth forecast for the next fiscal year to 7% based on strong domestic demand and sustained business and consumer confidence.
On the global front, Asian markets like Seoul and Tokyo closed with gains, while Shanghai and Hong Kong closed with losses. European markets were mostly in the green, and US markets closed mixed. Brent crude oil prices rose to $84.67 per barrel, indicating a positive trend in the commodity markets.
Foreign institutional investors (FIIs) sold equities worth Rs 4,595.06 crore in Wednesday's trade. The overall market sentiment improved on Thursday as gainers outnumbered decliners on the BSE.



Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *