Business

Sensex Drops 89 Points In Volatile Trade, Nifty Reaches Below 17,250


Sensex and Nifty switch between profit and loss throughout the session before settling lower.

New Delhi:

India’s benchmark equity index extended losses to a second consecutive session on Thursday as rising oil prices made investors worried. Brent crude futures traded above $ 120 a barrel amid the ongoing Russia-Ukraine conflict.

The domestic index fluctuated between profit and loss throughout the session before settling lower.

The BSE Sensex 30 shares were down 89 points or 0.15 percent to close at 57,596, while the broader NSE Nifty moved 23 points or 0.13 percent lower to close at 17,223.

However, medium- and small -cap stocks closed on a positive note as the Nifty Midcap 100 index jumped 0.59 per cent and small -cap stocks rose 0.43 per cent.

Seven of the 15 sector gauges – compiled by the National Stock Exchange – ended in red. Nifty Bank, Nifty Consumer Durables and Nifty Financial Services recorded lower index performance by down 1.72 per cent, 1.62 per cent and 1.56 per cent, respectively. Nifty IT, Nifty Metal and Nifty Pharma soared.

In terms of specific shares, Kotak Mahindra Bank was the Nifty’s biggest loser as the stock cracked 3.10 per cent to Rs 1,714.95.

Titan, the HDFC twins (HDFC and HDFC Bank) and ICICI Bank are also among those left behind.

The overall market share remained negative as 1,448 stocks rose while 1,940 declined on the BSE.

On the BSE 30 -stock index, Box Bank, Titan, HDFC Bank, ICICI Bank, HDFC, M&M and Maruti were among the biggest losers.

Instead, Dr. Reddy’s, UltraTech Cement, Reliance Industries, Tata Steel, Tech Mahindra and NTPC settled on the green.

Additionally, shares of Zee Entertainment zoomed in 16.83 percent after U.S. investment firm Invesco said it would abandon efforts to shake up the company’s top management.

Agrasmartcity

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