Sensex, Nifty Extend Losses on Weak Global Cues, Geopolitical Tensions

16 Apr 2024 , 03:46 PM

Indian benchmark indices sustained their downward trajectory for the third consecutive session, influenced by weak cues from global markets, particularly due to escalating tensions in the Middle East.

The Sensex commenced trading lower at 72,892.14 and fluctuated between a low of 72,685.03 and a high of 73,135.43 throughout the day. Ultimately, it closed at 72,943.68, reflecting a decline of 456.10 points or 0.62%.

Similarly, the Nifty 50 started on a downward trend at 22,125.30, maintaining a range between 22,079.45 and 22,213.75. It concluded at 22,147.90, marking a decrease of 124.60 points or 0.56%.

Out of the 30 stocks constituting the BSE Sensex, only eight ended the day with gains. Notably, Hindustan Unilever, Titan, HDFC Bank, Maruti Suzuki India, and ITC were among the top performers, whereas Infosys, IndusInd Bank, Bajaj Finserv, Wipro, and HCL Tech exerted downward pressure on the index.

On the Nifty 50, 16 stocks closed with gains, with notable contributions from Eicher Motors, Hindustan Unilever, ONGC, Titan, and Divi’s Laboratories. Conversely, Infosys, LTIMindtree, IndusInd Bank, Bajaj Finserv, and Wipro emerged as the top losers.

The broader market demonstrated resilience compared to the benchmark indices, as evidenced by the BSE MidCap index edging up by 0.05% and the BSE SmallCap index rising by 0.57%.

Across various sectors, the IT index suffered the most significant setback, plunging by 2.58%, followed by the Bank index with a decline of 0.60%. The FS index experienced a downturn of 0.22%, while the Metal and Realty indices witnessed declines of 0.54% and 0.46%, respectively.

Among heavyweight sectors, the Oil & Gas index recorded the highest gains, closing up by 0.60%. Additionally, the Pharma sector closed up by 0.42%, and Healthcare by 0.22%. The FMCG index concluded with a gain of 0.43%, while the Auto index saw a modest increase of 0.10%.