Markets Bleed: Sensex, Nifty slip as IT, Telecom, durables drag
The stock market opened in the red on Friday, March 21, ending a four-day rally. IT, telecom, and consumer durables stocks dragged indices down.
At 9:15 AM, the BSE Sensex fell 200.96 points (0.26%) to 76,147.10. The NSE Nifty dropped 44.60 points (0.19%) to 23,146.05. Among Sensex stocks, Infosys declined the most, losing 2.12% to trade at ₹1,580. Tata Consultancy Services followed, down 1.76% at ₹3,499.95. Zomato fell 1.67% to ₹220.75.
The Nifty IT Index dropped 2.28% to 35,841.65, leading sectoral declines. Nifty Midsmall IT and Telecom fell 1.12% to 8,861.40, while Nifty Consumer Durables slipped 0.51% to 36,346.80.
Market Performance in the Previous Session
The stock market rallied on Thursday, March 20, closing in the green for the fourth consecutive session. The BSE Sensex gained 899.01 points (1.19%) to 76,348.06, while the NSE Nifty rose 283.05 points (1.24%) to 23,190.65.
Bharti Airtel led Sensex gainers, surging 4.17% to ₹1,704.95. Titan Company climbed 3.82% to ₹3,192.80, while Tata Consultancy Services gained 1.88% to ₹3,562.80. IndusInd Bank and Bajaj Finance were the only Sensex stocks in the red, losing 1.23% and 0.66%, respectively.
The Oil & Gas Index led sectoral gains, rising 1.59% to 10,353.95. Nifty Midsmall Healthcare gained 1.57% to 40,390.20, while the Nifty Auto Index climbed 1.42% to 21,623.05.
Global oil prices rose, pushing up energy stocks. Brent Crude for May futures gained 0.33% ($0.24) to $72.24, while WTI Crude rose 1.64% ($1.10) to $68.26.
In a reversal, Foreign Institutional Investors (FIIs) became net buyers, purchasing equities worth ₹3,239.14 crore. Domestic Institutional Investors (DIIs) turned net sellers, offloading ₹3,136.02 crore worth of equities.
