Sensex falls on the third day and closes below 60,000
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On a negative trend in IT counters, the stock benchmarks gave up some of their early gains to end the day lower on Friday, marking their third day of decline.
The larger NSE Nifty ended at 17,859.45, down 132.70 points, or 0.74 percent.
To end the day at 59,900.37, the 30-stock BSE Sensex fell 452.90 points, or 0.75 percent. It fell 683.36 points, or 1.13 percent, on the day to 59,669.91.
The biggest laggards from the Sensex package included Tata Consultancy Services, Bajaj Finserv, IndusInd Bank, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, Infosys and Tata Motors.
Hong Kong stock markets closed lower while those in Seoul, Tokyo and Shanghai closed higher.
Winners included Mahindra & Mahindra, Reliance Industries, Nestlé, ITC and Larsen & Toubro.
During mid-hour, stock exchanges in Europe traded with mixed sentiment. On Thursday, US markets had a lower close.
“In line with international markets, Indian equity markets started the new year on a somewhat cautious note, maintaining the pattern seen in December 2022. While there is still hope for more lenient rate hikes by central banks around the world going forward, concerns about the state of the broader economy amid high interest rates and ongoing core inflation persist,” said Executive Director of Julius Baer India, Milind Muchhala.
The benchmark Brent for the international oil price rose by 0.15 percent to $78.81 per barrel. According to stock market statistics, foreign institutional investors (FIIs) sold shares worth Rs 1,449.45 crore net on Thursday.
Summary of the news:
Sensex declines on day 3 and closes below 60k Check all the news and articles from the latest business news updates.