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March 22, 2024 1:14 PM

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Indian Stock Indices Drop Over 0.90% on Stronger US Data

Key domestic indices declined over 0.90 percent today due to widespread selloff as the euphoria over early rate cuts may wane following the stronger-than-anticipated US non-farm payroll data and the consequent increase in the U.S. 10-year treasury yield. Today, BSE Sensex ended below 72,000 mark and the Nifty near 21,500 points. 

The Sensex tumbled 671 points, or 0.93 percent, to end at 71,355. The Nifty also declined 198 points, or 0.91 percent, to close at 21,513.

In the broader market at the BSE, the mid-cap index slipped 0.90 percent and the small-cap index fell 0.40 percent.

In the Sensex index, which is a pack of 30 companies, shares of 23 companies declined while those of seven companies appreciated. SBI declined 2.30 percent while ITC and Nestle India both fell 1.80 percent each. On the other hand, HCL Tech rose one percent, while Sun Pharma and NTPC jumped 0.40 percent each.   

In sectoral indices at the BSE, 17 sectors declined while just 3 sectors logged gains. The FMCG sector declined 1.55 percent, Commodities sector slipped 1.45 percent and Metal sector lost 1.40 percent.

On the other side, the Services sector rose 0.30 percent, Realty sector climbed 0.10 percent and the Power sector soared 0.05 percent.

The overall market breadth was negative, as the shares of 1,855 companies appreciated while those of 2,123 declined. A total of 96 companies remain unchanged.