Sensex Falls 366 Points, Nifty Settles Below 16,500; Auto, Bank Stocks Top Drags

On BSE, the overall market breadth stood positive as 2,037 shares advanced while 1,284 declined.

New Delhi: The Indian equity indices on Thursday extended fall for the second straight session as the Russia-Ukraine conflict intensified. Both indices started on a higher note but gave up their respective gains in the afternoon deals, as losses in automobile and bank stocks offset information technology (IT) and energy stocks’ gains.

The benchmark BSE Sensex slipped 366 points or 0.66 per cent to close at 55,103; while the broader NSE Nifty moved 108 points or 0.65 per cent lower to settle at 16,498.

Brent crude oil surged more than 5 per cent to $120 per barrel as Western nations tighten sanctions on Russia following its invasion of Ukraine.

Back home, mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 index fell 0.40 per cent lower and small-cap shares rose 0.35 per cent.

Most of the sector gauges — compiled by the National Stock Exchange — were trading in the red. Nifty Auto and Nifty Bank underperformed the index by falling as much as 2.28 per cent and 1.21 per cent, respectively. However, Nifty IT and Nifty Oil & Gas climbed 1.22 and 1.46 per cent, respectively.

On the stock-specific front, ONGC was the top Nifty loser as the stock cracked 4.60 per cent to Rs 170.45. UPL, PowerGrid, Wipro and Tech Mahindra were also among the laggards.

On BSE, the overall market breadth stood positive as 2,037 shares advanced while 1,284 declined.

On the 30-share BSE index, UltraTech Cement, Asian Paints, Dr Reddy’s, Maruti, Hindustan Unilever and ICICI Bank were among the top losers.

In contrast, PowerGrid, TechM, Wipro, HCL Tech, ITC and Tata Steel finished in the green.

Author: desi123 is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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