Sensex, Nifty fall for 3rd straight day on inflation, rate hike worries


PTI, Mar 25, 2022, 5:32 PM IST

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 233.48 points or 0.41 per cent to settle at 57,362.20. During the day, it tanked 495.44 points to 57,100.24.

The broader NSE Nifty declined 69.75 points or 0.40 per cent to settle at 17,153.

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 3.59 per cent, Tech Mahindra by 2.35 per cent, Maruti Suzuki India by 1.79 per cent, and Wipro by 1.18 per cent.

Among major index downers, HDFC Bank declined 0.76 per cent, TCS by 1.12 per cent, and Infosys by 0.55 per cent.

ICICI Bank, Nestle India, Larsen & Toubro, HCL Technologies, Tata Steel and ITC also dropped.

On the other hand, Dr Reddy’s continued its steller run, rising by 0.77 per cent. Asian Paints rose 0.76 per cent, and Reliance Industries by 0.73 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 0.36 per cent and smallcap gauge declined 0.33 per cent.

A total of 2,078 declined, while 1,329 advanced and 103 remained unchanged.

Among BSE sectoral indices, consumer durables declined the most by 2.28 per cent, followed by capital goods (0.95 per cent), FMCG (0.72 per cent) and Information Technology (0.68 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 1.44 per cent to USD 117.32 per barrel.

Foreign institutional investors (FIIs) turned net sellers in the capital market, as they sold shares worth Rs 1,740.71 crore on Thursday, according to stock exchange data.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Case registered against unknown persons who attempted to attack BJP MLC Ravi

Delhi polls: BJP issues ‘chargesheet’ against Kejriwal; vows to remove AAP from power

PVR INOX rejigs media biz, appoints Chief Sales Officer Shalu Sabharwal as head

Mastermind of kidnapping gang targeting celebrities arrested after encounter in UP’s Bijnor

Neelamangala accident: Tried avoiding hitting car in front, lost control, claims truck driver

Gurdaspur grenade attack: 3 Khalistani terrorists gunned down in encounter in UP

Karnataka: Nine Lord Ayyappa devotees suffer burn injuries in LPG cylinder blast

Related Articles More

Lohia Auto launches EV brand ‘Youdha’, aims to sell 3 lakh vehicles by 2027

“FM ji FM ji, itna tax main kaise bharun”, asks investor Vijay Kedia in viral post

RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm

Front-running case: Sebi bans 9 entities from market , impounds illegal gains of over Rs 21 crore

Global trends, FIIs’ move to dictate trends in markets in holiday-shortened week: Analysts

MUST WATCH

Tulunadu Daivaradane

Feeding Birds with Creative Paddy Art!

Areca Nut

HOTEL SRI DURGA BHAVANA

Harish Poonja


Latest Additions

Case registered against unknown persons who attempted to attack BJP MLC Ravi

Mayawati slams BJP, Cong over Ambedkar row

Delhi polls: BJP issues ‘chargesheet’ against Kejriwal; vows to remove AAP from power

The ability to take 20 wickets is not that good in Indian team: Cheteshwar Pujara

PVR INOX rejigs media biz, appoints Chief Sales Officer Shalu Sabharwal as head

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.