Sensex Extends Losses, Falls 27.09 Pts for 2nd Day; Nifty Dips Below 22,450

Ira Singh
Khabar Khabaron Ki,03 April’24

The domestic equity market ended on a flat note in the highly volatile session on Wednesday, following a drop in global stocks after fresh US data raised worries of the Federal Reserve delaying interest rate cuts.At close, the Sensex was down 27.09 points, or 0.04 percent, at 73,876.82, and the Nifty was down 18.65 points, or 0.08 percent, at 22,434.65.

Meanwhile, investor focus would shift to the RBI policy meeting that kicks off today, with the outcome slated for Friday. RBI is likely to hold rates steady until at least July, according economists opinion.

Shriram Finance, NTPC, TCS, Axis Bank and Tech Mahindra were the top gainers on the Nifty, while losers included Nestle India, Bajaj Auto, Kotak Mahindra Bank, Britannia Industries and Dr Reddy’s Laboratories.

On the sectoral front,the Realty index was down 2.5 percent and the Auto index slipped 0.4 percent. On the other hand, Power, PSU Bank indices rose 1 percent each, and Information Technology, Media indices were up 0.5 percent each.Broader indices outperformed with BSE midcap index (up 0.6 percent) hitting fresh record high and smallcap index rose 1 percent.

Rupee Close:
On 03 April’24,the Indian rupee witnessed range- bound trading in initial deals and ended marginally lower at 83.43 against the US dollar on Wednesday, as the support from positive macroeconomic data was negated by elevated crude oil prices.

Forex traders said a negative trend in domestic equities and the overall strength of the American currency in the overseas market weighed on investor sentiments.

Trading Guide:
Market experts have recommended seven day trading stocks for today- JSW Steel, Bajaj Finserv, SJVN, Tata Consumer, RailTel, Vedanta and L&T Finance Ltd.