Sensex Resumes Downtrend After 1-day break, falls 790 Pts; Nifty at 21,951

Ira Singh
Khabar Khabaron Ki,28 Feb’24

The domestic equity market indices traded more than a percent lower on Wednesday,amid selling across the sectors, with small and midcaps hit the hardest.At close the Sensex was down 790.34 points, or 1.08 percent, at 72,304.88 and the Nifty was down 247.20 points, or 1.11 percent at 21,951.15.

HUL, Infosys, TCS and Bharti Airtel were the top gainers on the Nifty while losers included Power Grid Corporation, Apollo Hospitals, Eicher Motors and Maruti Suzuki.

On the sectoral front,all the indices ended in the red with auto, oil & gas, power and realty. down 2 percent each.BSE midcap and smallcap indices fell 2 percent each

Rupee Close:
On 28 Feb’24,the Indian rupee turned flat at 82.89 against the US dollar in early trade on Wednesday, resisting pressure amid unabated outflow of foreign funds and increased month-end demand of the American currency.

According to forex analysts, crude oil prices hovering above USD 83 per barrel also weighed on the domestic currency, however, positive equity markets provided cushion and capped a steep fall in the rupee.Investors were also awaiting cues from US GDP data to be released later in the day and domestic GDP (Gross Domestic Product) numbers later this week, they said.

Trading Guide:
Market experts have recommend nine stocks to buy or sell for Wednesday -Larsen and Toubro, CESC, DLF, GAIL, Zensar Tech, BSE, Indusind Bank, Railtel and Tata Motors.