Sensex drops 581.21 points

Mumbai: The BSE Sensex on Thursday tumbled 581.21 points to settle at 57,276.94 in volatile trade as selling pressure was seen in IT, technology, consumer durable and realty stocks amid weak global cues. The Nifty of the National Stock Exchange (NSE) too slipped 167.80 points at 17,110.15. Brewing tensions between Russia and Nato over Ukraine was impacted on the market. Rising crude oil prices too had a negative impact on the market. Brent oil prices have already crossed the $90 per barrel mark. Throughout the day, the equity market remained in the red as the day opened on a weak note at 57,317.38 and fell 541 points. During the day it was lost 1,419 points at 56,439.36 — the day’s low. In late trade, it improved but finished in the red at 57,276.94, down 581.21 points from its previous close. The Sensex registered the day’s high and low at 57,508.61 and 56,439.36 respectively. The Nifty recorded the day’s high and low at 17,182.50 and 16,866.75 respectively. In sectoral indices, IT was the worst hit, fell by 3.10 per cent followed by technology by 2.75 per cent, consumer durable by 2.58 per cent, realty by 1.70 per cent and health care by 1.80 per cent. In scrips, HCL Technology was a major loser, down 3.98 per cent to Rs 1,080 followed by Tech Mahindra by 3.46 per cent to Rs 1,448.60, Dr Reddy’s Lab by 3.37 per cent to Rs 4,258.45, Wipro by 3.15 per cent to Rs 545.10, TCS by 3.11 per cent to Rs 3,653 and Titan by 2.83 per cent to Rs 2,312. The gainers were Axis Bank by 3.33 per cent to Rs 777, SBI by 2.98 per cent by 530.20, Maruti Suzuki by 2.35 per cent to Rs 8,819.60 and Kotak Bank by 2.32 per cent to Rs 1,895. The Mid Cap declined by 1.25 per cent and Small Cap by 0.82 per cent. In 30 scrips, 9 advanced while 21 declined. Asian markets were seen under pressure investors reacted to an overnight update from the US Federal Reserve, indicating the central bank plans to raise interest rates in March. Japan’s Nikkei 225 fell 3.1 per cent. In South Korea, the benchmark Kospi dropped 3.2 per cent. In Hong Kong, the Hang Seng index slipped by 2.7 per cent.

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