Last Updated: February 24, 2023, 15:45 IST
Sensex Today: Sensex prolonged losses to sixth session on Friday as progress considerations, amid fears of elevated rates of interest, damage sentiment. The S&P BSE Sensex fell 142 factors, or 0.24 per cent, to shut at 59,464, whereas the Nifty50 declined 45 factors, or 0.26 per cent, to finish at 17,466.
Adani Enterprises (down 5 per cent), Hindalco, JSW Steel, M&M, Tata Steel, SBI Life, L&T, Tata Motors, BPCL, HDFC Life, HDFC, and HDFC Bank have been the highest laggards. On the flipside, ONGC, Divis Labs, Asian Paints, Coal India, Adani Ports, Bajaj Auto, Power Grid, and NTPC eked out good points.
In the broader markets, the BSE MidCap index dipped 0.17 per cent, and the BSE SmallCap index eased 0.15 per cent. Sectorally, the Nifty Metal index plunged 3 per cent, adopted by the Nifty PSU Bank index (down 0.8 per cent).
Rupak De, Senior Technical Analyst at LKP Securities, stated: “The benchmark Nifty remained risky on the final day of February’s F&O expiry. During the day, Nifty managed to carry above the morning low of 17455. Going forward, the low of 17455 is prone to act as speedy assist for the falling Nifty. A decisive fall under 17450 might set off the resumption of the autumn. In that case, it might fall down in the direction of 17200–17150. However, failure to interrupt down might induce a restoration in the direction of 17750–17850, the place the higher band of the falling channel lies.”
Vinod Nair, Head of Research at Geojit Financial Services, said: “The equity market traded cautiously between gains and losses as the minutes of the central bank policy meeting revealed concerns over high inflation and its commitment to bring inflation under control. In response to the heightened fears of rate hikes, the US 10 yr treasury yield continued to stay high, near 4%. Additionally, the dollar index rose as the greenback cheered over hawkish Fed comments and rising geopolitical tensions.”
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