Last Updated: February 21, 2024, 16:09 IST
After buying and selling vary-certain for many a part of the day, fairness markets turned sharply decrease in fag-finish dragged by IT, monetary, and pharma shares.
The S&P BSE Sensex dropped 434 factors, or 0.59 per cent, to finish at 72,623 ranges, whereas the Nifty50 shut store at 22,055, down 142 factors or 0.64 per cent.
The indices hit intraday lows of 72,451, and 21,998, respectively.
Power Grid, NTPC, Wipro, Infosys, Tech M, L&T, HCL Tech, Bajaj Finance, Bajaj Finserv, HDFC Bank, Kotak Bank, Titan, ITC, and TCS have been the highest laggards, down between 1 per cent and three per cent.
In the broader markets, the BSE MidCap index fell 1.27 per cent, whereas the BSE SmallCap index declined 0.84 per cent.
Among sectors, the Nifty Media index tumbled 4.8 per cent, the Nifty IT index 1.7 per cent, and the Nifty Pharma index 0.5 per cent. On the upside, the Nifty Realty index gained 1.96 per cent.
“With seven days of record intraday highs this year Nifty is exhibiting great strength. The big emerging market worry of rising bond yields in the US is not impacting India since FIIs have been forced to reduce their selling since they are being completely neutralised by sustained DII buying assisted by retail exuberance. This resilient domestic buying is providing the main support to the ongoing rally in the market, and the strong performance of the economy and improving corporate earnings are solid fundamental support to the market,” stated Dr. V Ok Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global Cues
In Asia this morning, key markets buying and selling on a flat be aware following tepid cues from the US friends.
Overnight, the US market ended with losses with Nasdaq down 0.9 per cent forward of the extremely anticipated Nvidia earnings later tonight. Dow Jones was down 0.2 per cent.
