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Stock Market Today: Sensex, Nifty Snap Three-Day Run To Fall The Most In Over Two Weeks

The S&P BSE Sensex closed down 542 points or 90% at 59,806.28 while the NSE Nifty 50 was 165 points or 0.93% lower at 17,589.60.

<div class="paragraphs"><p>Employees enter the National Stock Exchange of India Ltd. [Photographer: Dhiraj Singh/Bloomberg]</p></div>
Employees enter the National Stock Exchange of India Ltd. [Photographer: Dhiraj Singh/Bloomberg]
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FPIs Snap Four-Day Buying Streak To Turn Net Sellers

Foreign investors in Indian equities turned net sellers on Thursday, ending a four-day buying streak.

Foreign portfolio investors offloaded equities worth Rs 561.78 crore, according to data from the National Stock Exchange.

Domestic institutional investors turned net buyers after a day and bought stocks worth Rs 42.41 crore. They snapped nine-day buying streak and turned sellers on March 8.

Foreign institutions have remained net sellers and offloaded Rs 36,132.01 crore so far in 2023.

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Yield On The 10-Year Bond Flat

The yield on the 10-year bond closed flat at 7.43% on Thursday.

Source: Bloomberg


Rupee Strengthens Against The U.S. Dollar

The local currency strengthened by 8 paise to close at 81.98 against the greenback on Thursday. It closed at 82.06 on Wednesday.

Source: Bloomberg

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Sensex, Nifty Fall The Most In Over Two Weeks

Indian equity benchmarks extended declines and snapped three-day gains after opening amid volatility on Thursday.

Benchmarks fell to the lowest level in over two weeks since Feb. 22, 2023. Also, S&P BSE Sensex closed below the 60,000-level after two trading sessions.

Asian markets slipped along with the U.S. equity futures on Thursday as investors weighed the risk of faster rate hikes. The Stoxx Europe 600 fell 0.3% while contracts for the rate-sensitive Nasdaq 100 slid 0.5%.

The S&P BSE Sensex closed down 542 points or 90% at 59,806.28 while the NSE Nifty 50 was 165 points or 0.93% lower at 17,589.60.

Larsen and Toubro Ltd., Axis Bank Ltd., Bharti Airtel Ltd., Tata Steel Ltd., and Apollo Hospitals Enterprise Ltd., and were positively contributing to the index NSE Nifty 50.

Whereas, Reliance Industries Ltd., ICICI Bank Ltd., TCS Ltd., Infosys Ltd., and ITC Ltd. were dragging the index.

Adani Group company ended mixed in trade on Thursday as Adani Enterprises Ltd., Adani Ports and SEZ Ltd., ACC Ltd., and Ambuja Cements Ltd. declines while the other stocks 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 from Wednesday. It has now put it 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 were trading marginally higher; S&P BSE MidCap was down 0.55% whereas S&P BSE SmallCap was lower by 0.20%.

Fourteen out of 19 sectors compiled by BSE declined while five advanced in trade.

The market breadth was skewed in the favour of the bears. About 1,739 stocks rose, 1,589 declined, and 148 remained unchanged on the BSE.


Benchmarks Drop To Day's Low

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