Mumbai, March 27: The Indian stock market experienced a significant decline on the last trading day of the week, closing in the red due to rising tensions from the U.S.-Iran conflict and uncertainty surrounding peace agreements. Both major benchmarks, Nifty50 and Sensex, fell by over 2 percent.
At market close, the BSE Sensex dropped by 1,690.23 points, or 2.25 percent, settling at 73,583.22. Meanwhile, the NSE Nifty50 fell by 486.85 points, or 2.09 percent, ending at 22,819.60.
During the trading day, the Sensex opened at 74,883.79 and hit a low of 73,534.41, a drop of 1,736 points or more than 2.30 percent. The Nifty50 opened at 23,173.55 and fell to 22,804.55, a decline of 501 points or over 2.15 percent.
Broader markets underperformed against the benchmark indices, with the Nifty Midcap index down by 2.23 percent and the Nifty Smallcap index down by 1.74 percent.
Sector-wise, public sector banks (PSUs) faced the most significant losses, declining by 3.86 percent. Other sectors, including Nifty Realty (down 3.17 percent), Nifty Auto (down 2.82 percent), Nifty Financial Services (down 2.69 percent), and Nifty Private Banks (down 2.01 percent), also performed poorly.
Conversely, the Nifty IT sector emerged as the best performer, with the least loss of 0.44 percent.
In the Nifty50, only six companies saw gains, including ONGC with a rise of 4.03 percent, Wipro up by 1.22 percent, Bharti Airtel up by 0.82 percent, TCS up by 0.42 percent, Coal India up by 0.32 percent, and Powergrid up by 0.24 percent.
On the downside, Shriram Finance shares plummeted by 5.54 percent, followed by TMPV down by 4.92 percent, Reliance down by 4.61 percent, Indigo down by 4.48 percent, and Bajaj Finance down by 4.11 percent, making them the top losers.
Investors faced a loss of nearly ₹9 lakh crore, as the total market capitalization of BSE-listed companies fell from ₹431 lakh crore in the previous session to ₹422 lakh crore.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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