Mumbai, March 27: The Indian stock market opened in the red on Friday, reflecting weak global signals. At 9:18 AM, the Sensex fell by 808 points or 1.07 percent to 74,435, while the Nifty dropped 274 points or 1.18 percent to 23,033.
The market is witnessing widespread declines. In early trading, PSU banks and the auto sector led the downturn. The Nifty PSU Bank and Nifty Auto were the top losers among the indices. Conversely, Nifty Financial Services, Nifty Realty, Nifty India Defense, Nifty Private Bank, Nifty Consumption, Nifty Metal, and Nifty Infra showed gains. Only Nifty IT remained in the green.
Both mid-cap and small-cap stocks also experienced declines alongside large caps. The Nifty Midcap 100 index fell by 561 points or 1.02 percent to 54,769, while the Nifty Smallcap 100 index decreased by 130 points or 0.82 percent to 15,766.
Among the gainers in the Sensex pack were HCL Tech, TCS, Infosys, Tech Mahindra, Sun Pharma, and Trent. However, major losers included Eternal, Bajaj Finserv, HDFC Bank, Indigo, L&T, M&M, Kotak Mahindra Bank, SBI, Axis Bank, HUL, UltraTech Cement, BEL, Maruti Suzuki, Titan, ICICI Bank, and Power Grid.
Asian markets opened mixed, with Tokyo, Seoul, and Jakarta in the green, while Shanghai and Hong Kong were in the red. The US markets closed lower on Thursday.
Vikram Kasat, Head of Advisory at PL Capital, noted that the US technology index Nasdaq recorded a decline as the deadline for peace talks between Iran and the US approached. However, this deadline was later extended.
Just 11 minutes after the market closed, Trump announced that the US would not attack Iranian power plants until Monday, April 6, at 8 PM (Eastern Time). He stated that this new deadline was set at the request of the Iranian government.
He further mentioned that, based on news-driven short-term fluctuations in the market, investors have limited opportunities.
Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹1,805.37 crore on Wednesday. Domestic Institutional Investors (DIIs) made purchases totaling ₹5,429.78 crore.
My name is Himanshu Tiwari. I am an experienced content writer with several 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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