Sensex snaps 3-day winning run; falls 540 points

PTI, Mar 9, 2023, 4:16 PM IST

Equity benchmark Sensex declined nearly 540 points on Thursday, pressured by heavy selling in index heavyweights Reliance Industries, Bajaj Finserv and ICICI Bank amid a sluggish trend in the global markets.

Besides, a weak rupee against major currencies overseas further weighed on sentiment, traders said.

Snapping its three-day gaining streak, the 30-share BSE Sensex opened strong but came under severe selling pressure to close 541.81 points or 0.90 per cent lower at 59,806.28.

Similarly, the broader NSE Nifty declined 164.80 points or 0.93 per cent to 17,589.60.

M&M was the top loser in the Sensex pack, skidding 3.31 per cent, followed by Reliance Industries, Bajaj Finserv, ICICI Bank, Maruti, Tata Motors and Tech Mahindra.

On the other hand, Tata Steel, L&T, Axis Bank, Bharti Airtel and HDFC Bank were among the gainers.

Sector-wise, BSE Auto and Consumer Durable witnessed intense selling during the session.

In the broader markets, the BSE midcap fell 0.55 per cent and the small-cap slipped 0.20 per cent.

Bourses in Hong Kong, Shanghai and Seoul settled in the red while Tokyo closed with gains.

Equities in Europe were also trading with significant losses in mid-session deals. Equities on Wall Street closed mixed in the overnight session.

The rupee fell 7 paise to close at 82.02 (provisional) against the US dollar on Thursday Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 3,671.56 crore, according to exchange data.

Meanwhile, international oil benchmark Brent crude slipped 0.01 per cent to USD 82.65 per barrel.