Markets fail to hold gains; Nifty ends below 16,500; Sensex falls over 360 points; auto, banks stocks slip

3 Mar 2022 , 03:57 PM

Domestic equity markets closed lower in the afternoon trade as the geopolitical scenario continues to worsen due to the Russia-Ukraine crisis. Also, soaring crude prices due to supply disruptions from Russian sanctions have further escalated the situation.

The Sensex dropped 366.2 points to end at 55,102.7, and the broader Nifty50 benchmark settled at 16,498.1, down 107.9 points from its previous close.

The Nifty Midcap and Nifty SmallCap was down by 0.8% and 0.4% respectively.

Most sectoral indices ended in red except Nifty Media (+0.4%), Nifty IT (+1.2%) and Nifty Metal (+1.1%). Nifty Auto decreased the most at 2.3% followed by Nifty Bank (-1.2%) and Nifty Fin Service (-1.1%).

UltraTech, Asian Paints, HDFC Life, Shree Cement, Eicher Motors, SBI Life and Tata Consume are among the top losers today. ONGC, UPL, Power Grid, Wipro, Tech Mahindra, Indian Oil and Coal India are top gainers in the Nifty50 index.