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इंडियन आवाज़     14 Apr 2024 08:15:56      انڈین آواز

Stock Market (February 2024): Sensex dips 790 pts; Nifty settles below 22k; midcap, smallcap slump

(Last Updated On: 28/02/2024)

Benchmark ​Sensex ​slumped more than 1 per cent while ​Nifty ​declined below the 22,000 level on Wednesday pulled down by selling in heavyweight Reliance Industries and bank stocks amid weak global market trends.

The BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88​. During the day, it tanked 872.93 points or 1.19 per cent to a low of 72,222.29. The Nifty slumped 247.20 points or 1.11 per cent to settle at 21,951.15. Among the Sensex firms, Power Grid, IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, Reliance Industries and UltraTech Cement were the biggest laggards. Hindustan Unilever, Infosys and Tata Consultancy Services and Bharti Airtel were the gainers.

The 30-share BSE Sensex ended lower by 790.34 points or 1.08% at 72,304.88 level while the Nifty 50 closed at 21,951.15 level, down 247.20 points or 1.11%. On the broader market front, the Nifty Small Cap 100 dropped 1.87% and the Nifty Midcap 100 indexes was down by 1.94%.

Analysts believe that investors booking profits after significant gains could have triggered some short-term selling pressure. Additionally, as the F&O expiry day on Thursday, February 29th, draws near, traders’ rollover of holdings to the next expiry day has caused volatility.

Further, analysts noted that 90 stocks were trading lower during Wednesday’s session as the Nifty Midcap index fell more than 1,000 points.

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