Sensex breaks 900 points, Nifty down 14900, pressure on these stocks

Mumbai: The domestic stock market started with a downward trend on Friday amid weak global cues. In the last trading session of the week, the Bombay Stock Exchange’s major index Sensex has opened around 50,120, falling more than 900 points. The Nifty is also open at 14,829 levels, down by 167 points, or 1.77 per cent. In early trade, all the shares of Sensex 30 were seen trading on the red mark. There is pressure coming in PSU banks and the metal sector.

Midcap and smallcap indices are also falling. CNX Midcap is also trading by dropping 172 points. Today all sectors are trading on the red mark in the initial trade. These include banking, capital goods, real estate, consumer durables, pharma, FMCG, IT, metal, oil and gas, PSUs and tax sectors. The biggest decline is seen in banking stocks.

Stocks of Coal India, Maruti Suzuki India, Nestle, IOCL, Dr. Reddy’s Labs, HUL and Sun Pharma are seeing a boom in the opening trade on Friday. At the same time, stocks of IndusInd Bank, ICICI Bank, Axis Bank, HDFC, Tata Motors and HDFC Bank are seeing a decline.

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The Asian index opened on the red mark on Friday. After the decline in stocks of tech sectors, Wall Street was also seen trading on the red mark. After this, there was pressure in the Asian market too. Today most of the indexes are on the red mark. SGX Nifty, Nikkei 225, Straight Times, Hangseng, Taiwan Index, Koi and Shanghai index declined.

Talking about the American market, it has also closed with a fall in Thursday’s business. On percentage terms, the Nasdaq Composite registered the biggest decline in the last 4 months. Wall Street saw pressure due to increase in US bond yield. The Dow Jones closed down 1.75 percent, the S&P 500 index 2.45 percent and the Nasdaq Composite down 3.52 percent.

16 new stocks in F&O
Starting today, 16 stocks for the March series will trade in Future and Options (F&O). So far, there were 146 stocks in the F&O list, which will now increase to 156. Alembic Pharma, Alchem ​​Laboratories, AU Small Finance Bank, City Union Bank, Deepak Nitrite, Granule India, Gujarat Gas, IRCTC, L&T Technology Services, L&T Infotech, Naveen Florin, Nippon Life, Pfizer, PI Industries and Trent.

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Mixed trend in crude oil
Crude oil prices have been mixed in the global market. US crude oil has reached the highest level since 2019. However, there was a drop in Brent prices. It is believed that after four months of profit, producers can take advantage of increasing output. Brent price fell 0.2 per cent to $ 66.88 per barrel for April delivery. Whereas, WTI has gained 0.5 per cent to reach $ 63.53 per barrel.

Provisional data available on the National Stock Exchange shows that foreign institutional investors bought shares worth Rs 188.08 crore on Thursday. Whereas, domestic institutional investors sold shares worth Rs 746.57 crore.