In Wednesday’s afternoon session, the Indian equity markets were deeply in red, on the back of negative global cues. Fears of economic recession increased because of the slump seen in US home sales in January. Existing home sales in US came down y-o-y by 36.9% in the month.
Meanwhile, investors awaited the release of the Federal Reserve's latest monetary policy meeting minutes.
All the major sectoral indices on Nifty were trading in red. Nifty Metal (-2.66%) index dragged down the chart with ~3% downside. Nifty Bank (-1.71%) and Financial Services (-1.74%) shed about 2%. Nifty IT stocks fell nearly 1%.
At around 2.00 PM, BSE Sensex was trading 895 points lower at 59,777. NSE Nifty shed 266 points and was trading at 17,561.30 points.
ITC (+0.30%), Divis Lab (+0.15%), and Sun Pharma (+0.06%) were the only gainers on the Nifty index today.
Adani Group company Adani Enterprises (-9.96%) nosedived 10%. Adani Ports (-5.05%) declined 5%. Grasim Industries (-3.53%), JSW Steel (-2.85%), and Bajaj Finance (-2.66%) weighed down the chart with nearly a 3% downside.
Only 3 stocks on the Nifty index advanced with marginal gains, while all other 47 stocks declined.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.