Indian Markets Dip on Global Weakness; Pharma Sector Lone Gainer

11 Mar 2024 , 01:16 PM

Indian benchmark indices faced losses on Monday, influenced by negative cues from global markets.

At the time of reporting, the Sensex was down by 319 points (0.43%) at 73,799.85, and the Nifty showed a decline of 80.65 points (0.36%) at 22,413.90.

Top gainers on the Nifty 50 included Bajaj Finserv, Nestle India, Apollo Hospital Enterprises, Cipla, and Sun Pharma. Conversely, the top losers on the Nifty 50 comprised Tata Consumer Products, Tata Steel, Power Grid Corp., Bajaj Auto, and Tata Motors.

The biggest drags on the Sensex were Tata Steel, Power Grid Corp., IndusInd Bank, Tata Motors, and NTPC, while the top gainers were Bajaj Finserv, Nestle India, HCL Tech, Sun Pharma, and Bharti Airtel.

With the exception of the pharmaceutical sector, all other sectoral indices recorded losses, with banking, metal, and power sectors witnessing a 1% decline each. The BSE Smallcap index also experienced a 1.5% decrease.

Foreign institutional investors (FIIs) made a net purchase of shares amounting to ₹7,304.11 Crore, while domestic institutional investors (DIIs) bought ₹2,601.81 Crore worth of stocks on March 7, according to provisional data from the NSE.

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