Market roundup: BSE Sensex plunges 871 points, Nifty closes below 14,600; today's top losers and gainers
Among the sectoral indices, the Nifty IT, Nifty FMCG and Nifty Auto closed in the red while the Nifty Pharma ended in the green
Both the market indices plunged nearly 2 percent to close in the negative on Wednesday (24 March) with the BSE Sensex ending below the 50,000-mark and the broader Nifty 50 closed below 14,600. The market was dragged by the banking and auto stocks and weakness in global markets.
Bombay Stock Exchange
The 30-share BSE Sensex fell 871.13 points or 1.74 percent to close at 49,180.31. There were only two gainers on the BSE on Wednesday, namely Asian Paints and Power Grid. While Mahindra and Mahindra, State Bank of India, ICICI Bank, IndusInd Bank and Axis Bank were among the worst performers.
Top BSE Sensex gainers:
Asian Paints: The shares of the company gained 1.44 percent to close at Rs 2,444.20.
Power Grid: The share of the bank witnessed a hike of 0.87 percent to end at Rs 221.05.
Top BSE Sensex Losers:
Mahindra and Mahindra: Shares of the company fell 3.97 percent to give a lower ending at Rs 811.15.
State Bank of India: 3.38 percent fall was witnessed in the share prices of the bank to end at Rs 359.90.
Axis Bank: Shares of the bank plunged 3.33 percent to end at Rs 706.45.
ICICI Bank: The shares of the bank closed at Rs 567.45 witnessing a decline of 3.22 percent.
IndusInd Bank: 3.07 percent decline was noted in the share prices which closed at Rs 567.45.
National Stock Exchange (NSE)
The NSE Nifty closed the day lower at 14,549.40, down 265.35 points or 1.79 percent.
Among the sectoral indices, Nifty IT, Nifty FMCG and Nifty Auto gave a negative ending while Nifty Pharma ended in the green.
The Nifty IT index fell 302.75 points or 1.16 percent to close at 25,802.95 followed by Nifty FMCG which closed at 33,987.10 down by 486.65 points or 1.41 percent and Nifty Auto which declined by 262.40 points or 2.58 percent to settle the day at 9,925.25. On the contrary, Nifty Pharma surged 0.076 percent or 9.10 points to end at 11,916.30
Top gainers on NSE Nifty:
Cipla: The share price of the company surged 1.82 percent to close at Rs 790.25.
Asian Paints: It witnessed a hike of 1.36 percent to close at Rs 2,443.00.
Power Grid: 0.94 percent gain was witnessed by the company to close the day at Rs 221.05.
Top losers on NSE Nifty:
Tata Steel: The shares of the company declined by 4.68 percent to settle lower at Rs 706.50.
Tata Motors: The share fell 4.15 percent and closed at Rs 294.65.
Adani Ports: The shares of the company dragged by 4.03 percent to end at Rs 708.75.
Hindalco: The shares of the company closed at Rs 319.20 witnessing a decline of 3.77 percent.
Mahindra and Mahindra: The shares of the company lost 3.75 percent to settle the day at Rs 812.95.
After falling 501 points in opening session, the 30-share BSE index pared all losses to end 374.87 points or 0.79 percent higher at 48,080.67
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a positive note, while Tokyo was in the red
The top gainers of the day were Bajaj Finsv, Dr Reddy, Bajaj Finance, Bajaj Auto, and M&M. The top laggards included Ultra Cemco, HCL Tech, HDFC, Tech M, and HDFC Bank