Anjali Sharma
GG News Bureau
NEW YORK, 12th March. According to the benchmark on Monday the market cautious ahead of inflation data.
The benchmark indiced at the stock market started the week on a dismal note on Monday, snapping a two-day winning run and ended lower.
The investors remained cautious ahead of the release of key CPI inflation data both in India and the US tomorrow.
On Monday’s closing the Sensex was down 616.75 points or 0.83% at 73,502.64, and the Nifty was down 160.80 points or 0.71% at 22,332.70.
All the Sectoral indices ended in the red with auto, capital goods, FMCG, oil and gas, bank, Information Technology, realty, metal and power down 0.5-1 per cent each.
The market opened flat with positive bias with Nifty hitting fresh all-time high of 22,526.60 but erased all the gains and turned negative in the initial hours.
The market extended the losses as the day progressed amid selling across sectors.
The small cap segment suffered deep losses as the BSE Small cap index lost 2.01 per cent while the BSE Midcap index settled with a loss of 0.24 per cent.
It said many as 22 stocks ended in the red in the 30-share pack Sensex, with shares of Power Grid, Tata Steel and SBI as the top losers.
The shares of Tata Consumer Products (down 3.06%), Power Grid Corporation of India (down 2.67%) and Bajaj Auto (down 2.53%) were the top losers at Nifty 50 index.
On the gainers list, the shares of Apollo Hospitals (up 2.66%), Nestle India (up 1.92%) and SBI Life Insurance Company (up 1.56%) led the list.
Nifty Bank and Private Bank indices fell 1.06% each while the Nifty PSU Bank index underperformed with a loss of 1.58%. Nifty Media ended as the top loser among the sectoral indices with a loss of 2.91%.
The overall market capitalization of the firms listed on the BSE dropped to nearly Rs 389.7 lakh crore from nearly Rs 392.8 lakh crore in the previous session. This made the investors poorer by about Rs 3.1 lakh crore in a single session.
ABB India, Blue Star, Cipla, Colgate Palmolive, Cummins India, GE T&D India, Glenmark Pharma, Godfrey Phillip, KEC International, Kirloskar Brothers, KPIL, Lupin, Oracle Financial Services, Siemens, Torrent Power, Trent, TTK Healthcare, Waaree Renewable, Zydus Life, among others touched thier 52-week-high.
In global markets, the continued sell off due to uncertainty over rate cuts impacted the domestic market sentiment.
Securities and Exchange Board of India chief Madhabi Puri Buch made remarks about stock manipulation in many firms said that iIt is worth noting that the small and medium-sized enterprises IPO stocks were under selling pressure on Monday’s session .
She stated that the regulatory body intends to impose more disclosures as a first step with regard to SME IPOs.
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