» Business » Markets fall nearly 1%; Sensex ends down 398 points

Markets fall nearly 1%; Sensex ends down 398 points

Source: PTI
March 24, 2023 16:45 IST
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Equity benchmark indices Sensex and Nifty buckled under selling pressure for the second straight session to settle nearly 1 per cent lower on Friday as investors pared exposure to the metal, energy and realty stocks amid a bearish trend in Asian and European markets.


Photograph: PTI Photo

Besides, a depreciating rupee against the US dollar and fresh foreign fund outflows also hit investor sentiments, traders said.

In a volatile trade, the 30-share BSE Sensex declined 398.18 points or 0.69 per cent to finish at 57,527.10.


During the day, it went lower by 502.3 points or 0.86 per cent to 57,422.98.

The broader NSE Nifty fell 131.85 points or 0.77 per cent to end at 16,945.05.

Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen & Toubro and Mahindra & Mahindra, Axis Bank and Titan.

On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints and Wipro were the gainers.

In Asia markets, stock exchanges in Seoul, Japan, Shanghai and Hong Kong ended lower.

European markets were also quoting in the red in the afternoon trade.

The US markets ended higher on Thursday.

Meanwhile, the rupee declined 25 paise to close at 82.45 against the US dollar.

Global oil benchmark Brent crude dipped 1.73 per cent to $74.60 per barrel.

Foreign Portfolio Investors offloaded equities worth Rs 995.01 crore on Thursday after a day's breather, according to exchange data.

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