Sensex, Nifty Snap Three-Day Run To End Lower: Market Wrap
The S&P BSE Sensex closed 0.90% lower at 59,806.28, while the NSE Nifty 50 declined 0.93% to end at 17,589.60.
India's benchmark stock indices fell the most in a single day in more than two weeks on Thursday, ending their three-day winning streak on fears of faster rate hikes. The S&P BSE Sensex closed below the 60,000 level after two trading sessions.
U.S. equity futures fell on Thursday, with the Stoxx Europe 600 falling 0.3% while contracts for the rate-sensitive Nasdaq 100 slid 0.5%.
The S&P BSE Sensex closed 542 points, or 0.90%, lower at 59,806.28, while the NSE Nifty 50 declined 165 points, or 0.93%, to end at 17,589.60.
Larsen and Toubro Ltd., Axis Bank Ltd., Bharti Airtel Ltd., Tata Steel Ltd., and Apollo Hospitals Enterprise Ltd. were among the companies that positively contributed to the NSE Nifty 50.
Reliance Industries Ltd., ICICI Bank Ltd., TCS Ltd., Infosys Ltd., and ITC Ltd. were laggards among the Nifty constituents.
Among the Adani Group companies, Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., ACC Ltd., and Ambuja Cements Ltd. declined while the rest advanced.
The National Stock Exchange has put Adani Enterprises Ltd., Adani Power Ltd., and Adani Wilmar Ltd. under short-term additional surveillance measures.
The exchange had said on Monday that it would remove Adani Enterprises from the short-term additional surveillance measure framework as of Wednesday. It has now been put back under the framework, with effect from Thursday.
Ambuja Cements Ltd. and Adani Ports and Special Economic Zone Ltd. were removed from the short-term additional surveillance measure framework on Feb. 13.
The broader market indices ended marginally higher, with the S&P BSE MidCap falling 0.55% and the S&P BSE SmallCap declining 0.20% at the close of trading.
Fourteen out of the 19 sectors compiled by BSE Ltd. declined, while five advanced in trade.
The market breadth was skewed in favour of the bears. About 1,739 stocks rose, 1,589 declined, and 148 remained unchanged on the BSE.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
