Indian Indices Extend Losses Amid Global Downturn; Oil Prices Dip Slightly

15 Mar 2024 , 02:08 PM

Indian benchmark indices extended losses on Friday, opening in the red amid subdued global sentiment.

At 2 PM, the Sensex was down 421.81 points or 0.58% at 72,675.47, while the Nifty was down 139.80 points or 0.63% at 22,006.90. Market activity showed 1340 shares advancing, 1972 shares declining, and 64 shares remaining unchanged.

Except for FMCG, all sectoral indices trade negatively, with oil & gas down 4%, and auto, capital goods, metal, and power down 1-2% each.

Oil prices declined slightly on Friday but are set to gain nearly 4% for the week, supported by higher 2024 oil demand forecasts from the International Energy Agency and a surprise drop in U.S. stockpiles.

Brent crude futures fell 38 cents (0.4%) to $85.04 a barrel, while WTI crude dropped 35 cents (0.4%) to $80.91.

Foreign institutional investors (FIIs) offload shares worth ₹1,356.29 Crore, while domestic institutional investors (DIIs) purchase stocks worth ₹139.47 Crore on March 14, as per provisional NSE data.

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