Home » business » Markets » Sensex Sheds 450 pts, Nifty Below 17,000; Broader Indices Fall Over 1%

Sensex Sheds 450 pts, Nifty Below 17,000; Broader Indices Fall Over 1%

Reported By: Aparna Deb


Last Updated: March 24, 2023, 15:43 IST

New Delhi, India

Sensex today

Sensex today

Sensex Today: Domestic markets were volatile in Friday's trade, amid mixed global cues.

Sensex Today:Equity markets turned sharply lower in the fag-end of the session as investors digested amendments to Finance Bill, 2023. Besides, selling in US index futures and European markets also weighed on the sentiment.

Back home, under the Bill approved by the Parliament, the debt mutual fund (Debt MF) investors will no longer receive the long-term capital gain tax benefit. They will be taxed like bank deposits. It will be applicable from April 1.

The S&P BSE Sensex closed 398 points, or 0.69 per cent, lower at 57,527 levels, while the Nifty50 shut shop at 16,945, down 132 points or 0.77 per cent.

The broad-based selling was led by metal, PSU banks, and realty indices, which were down over 2 per cent each. Individually, Bajaj Finserv (down 4 per cent), Adani Enterprises, Adani Ports, Hindalco, Bajaj Finance, ONGC, Hero MotoCorp, Tata Steel, Coal India. Titan, HDFC Life, Reliance Industries, M&M, JSW Steel, Maruti Suzuki, and L&T.

In the broader markets, the BSE MidCap and SmallCap indices declinedaround 1,4 per cent each.

Global Cues

Asian shares were lower on Friday as lingering banking stability concerns gripped Wall Street, while bonds bet the recent slew of rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year.MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%% on Friday, erasing some of the recent gains to be up 1.7% for the week. Japan’s Nikkei also slid 0.4%.

Tokyo shares opened lower Friday as global investors weighed fresh interest rate hikes by central banks and signs of a possible pause in US monetary tightening.The benchmark Nikkei 225 index fell 0.31 percent, or 84.69 points, to 27,334.92 at the open, while the broader Topix index slid 0.39 percent, or 7.64 points, to 1,949.68.

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    first published:March 24, 2023, 09:39 IST
    last updated:March 24, 2023, 15:43 IST