Benchmark indices Sensex and Nifty ended the session in the red for the third straight day as Brent crude approached the USD 101-a-barrel mark, with escalating Middle East tensions fuelling inflation concerns. The 30-share BSE Sensex fell 813.35 points or 1.08 per cent to settle at 74,764.23. During the day, the benchmark hit a high of 75,251.23 and a low of 74,764.23, gyrating 487 points. The 50-share NSE Nifty ended with a drop of 203.60 points or 0.86 per cent and closed the session at 23,431.50. Similarly, the broader market closed lower. While the BSE MidCap Select Index fell 98.13 points or 0.52 per cent, the BSE SmallCap Select Index fell 54.43 points or 0.59 per cent.
Among sectoral indices, Nifty IT and Nifty Realty dropped 3.24 per cent and 2.23 per cent, respectively. However, Nifty Metal outperformed, gaining 1.79 per cent.
“Broader markets fell alongside the benchmarks, with both Nifty Midcap 100 and Smallcap 100 down 0.5 per cent. Market breadth remained weak, with an advance–decline ratio of 0.76, indicating continued profit booking in the midcap and smallcap space. A relentless surge in global oil prices has reignited inflationary fears for India, pushing the rupee into defensive territory as it depreciated 29 paise to close at 95.11,” said Nandish Shah – Deputy Vice President, HDFC Securities.
Top gainers and losers
Among the 30-Sensex firms, Adani Ports, Tata Steel, Trent, NTPC and Asian Paints were the major gainers, with Adani Ports gaining 3.67 per cent today. On the flip side, HCL Tech, Infosys, Tech Mahindra, TCS and HDFC Bank were among the laggards. HCL Tech shares fell 4.55 per cent today.
Today, shares of 6 out of 30 Sensex companies closed in the green, while the remaining 24 closed in the red. Meanwhile, 13 of 50 Nifty 50 companies closed in the green, while the other 36 closed in the red. One stock remained unchanged.
Rupee trades stronger
Meanwhile, a relentless four-day surge in global oil prices has reignited inflationary fears for India, pushing the Rupee into defensive territory. The rupee slumped by 34 paise to close at 95.08 (provisional) against the American currency on Wednesday.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
