March 9, 2021

Indian & World Live Breaking News Coverage And Updates

Indian & World Live Breaking News Coverage And Updates

Sensex extends losses amid global weakness; HDFC twins drag

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Equity indices buckled under selling pressure for the second straight session on Wednesday as risk appetite remained subdued amid a bearish trend overseas.

Profit-booking was seen in finance, IT and FMCG counters, while a depreciating rupee also weighed on investor sentiment, traders said.

The 30-share BSE Sensex slumped 400.34 points or 0.77 per cent to close at 51,703.83. The broader NSE Nifty tumbled 104.55 points or 0.68 per cent to 15,208.90.

Nestle India was the top loser in the Sensex pack, shedding 2.80 per cent, followed by Bajaj Finserv, Asian Paints, Bank, IndusInd Bank, Maruti, Dr Reddy’s and

twins accounted for over half of the benchmark’s losses.


On the other hand, SBI, PowerGrid, NTPC, Reliance Industries and Bajaj Auto were among the gainers, climbing up to 2.39 per cent.

Global were on the backfoot amid rising US Treasury yields and concerns over frothy valuations.

“Domestic equities witnessed pullback today amid weak global cues. Profit booking was visible in IT, Pharma and FMCG space, while PSU Banks continued to see investors’ interest with PSU Bank index rising briskly by over 6 per cent.

“As indicated rotational trading was seen, where a number of mid cap and small cap stocks witnessed sharp uptick as improving earnings visibility is attracting investors to this space, especially in sectors which are considered to be beneficiary of higher capex,” said Binod Modi, Head-Strategy at Reliance Securities.

BSE healthcare, IT, finance, bankex, realty and FMCG indices slipped up to 0.91 per cent, while power, telecom, energy and industrials rose as much as 1.26 per cent.

Broader BSE midcap and smallcap indices outperformed the benchmark, rising up to 0.53 per cent.

Elsewhere in Asia, Hong Kong ended on a positive note while bourses in Tokyo and Seoul were in the red.

Stock exchanges in Europe were also trading with losses in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.58 per cent higher at USD 63.71 per barrel.

The rupee ended 5 paise lower at 72.74 against the US dollar.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,144.09 crore on Tuesday, according to exchange data.

, Sensex extends losses amid global weakness; HDFC twins drag, Indian & World Live Breaking News Coverage And Updates Dear Reader,

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