Stock Market Updates: Sensex Down 200 Points, Nifty Around 22K; OMCs Sink Up To 5%
Last Updated: March 15, 2024, 09:35 IST
Stock Market Update: Equity benchmark indices opened lower Friday amid weak global sentiment following a hotter-than-expected increase in US wholesale inflation. The BSE Sensex fell 200 points to 72,892 and the NSE Nifty slipped 50 points to 22,090.
Axis Bank, Infosys, Tech M, Bajaj Finserv, TCS, HCL Tech, ICICI Bank, SBI and RIL led losses on the Sensex, while Hindalco and JSW Steel were the top Nifty losers.
On the flip side, Asian Paints, Nestle, HUL, NTPC, Power Grid, BPCL and Tata Motors were the only frontline gainers.
The broader markets opened on a tepid note. The BSE MidCap and SmallCap indices were nearly flat versus losses in the BSE Sensex.
Global Cues
Asian stocks slumped on Friday, tracking tech-led declines on Wall Street overnight after hotter-than-forecast U.S. inflation knocked back bets for how soon and often the Federal Reserve will cut interest rates.
Tokyo stocks opened lower on Friday after Wall Street shares fell on renewed worries over inflation. The benchmark Nikkei 225 index was down 0.60 percent, or 231.47 points, to 38,575.91 in early trade, while the broader Topix index slipped 0.21 percent, or 5.48 points, to 2,656.11.
US stocks dropped on Thursday, with chipmaker stocks extending losses for a second day, and as a jump in producer prices left investors wondering if the Federal Reserve might wait longer than expected to cut interest rates.
