Sensex Snaps 4-Day Winning Streak, Closes 195 Pts Lower; Nifty Dips Below 22,400

Ira Singh
Khabar Khabaron Ki, 05 Mar’24

The domestic equity market indices snapped their four-day winning run to end lower on Tuesday, after closing at new record highs for three straight sessions ahead of the Federal Reserve Chair’s congressional testimony and key U.S. jobs data due later in the week. At close, the Sensex was down 195.16 points or 0.26 per cent at 73,677.13, and the Nifty was down 49.30 points or 0.22 per cent at 22,356.30.

Tata Motors, Bharti Airtel, Bajaj Auto, SBI and ONGC were the top gainers on the Nifty, while losers included Bajaj Finserv, Bajaj Finance, Nestle India, Infosys and SBI Life Insurance.

A mixed trend was seen, with the auto index up 1.3 per cent at the sectoral front, the PSU Bank index up 2.5 per cent and oil & gas, power and realty up 0.5 per cent each, while IT and FMCG indices shed 1 per cent each. The BSE midcap index ended flat and the smallcap index shed 0.6 percent.

Rupee close:
On 05 March’24, the Indian rupee depreciated 2 paise to 82.92 against the U.S. dollar in early trade on Tuesday, tracking a stronger American currency against major overseas rivals and outflow of foreign funds from domestic capital markets.

Though a downward trend in the crude oil prices cushioned the Indian currency, it was weighed down by the subdued equity market sentiment, forex traders said.

Trading Guide:
Market experts have recommended six-day trading stocks for Tuesday- TD Power, Graphite India, HPCL, NTPC, Ami Organics, and Laurus Labs.