IT and Realty Stocks Drag the Market; Reliance and Tata Motors Gain
Global Markets Under Pressure: Asian and U.S. Indices Decline
Strong Rally on March 6: Sensex Gained 609 Points, Nifty Surged 207 Points
On Friday, March 7, the last trading day of the week, the Sensex closed with a minor loss of 7 points at 74,332, while the Nifty gained 7 points to end at 22,552.
Out of the 30 Sensex stocks, 11 advanced while 19 declined. Shares of Reliance rose by 3%, Tata Motors by 1.28%, and Nestlé India by 0.92%. On the other hand, IndusInd Bank fell by 3.71%, Zomato by 3.64%, and NTPC by 2.29%.
Sectoral Indices Performance
In the NSE sectoral indices, Nifty Media gained 1.83%, Oil & Gas rose by 0.55%, and Nifty Auto climbed 0.24%. However, Nifty IT declined by 0.85%, Nifty Realty by 1.19%, and Nifty Consumer Durables by 1.02%.
Decline in Asian and U.S. Markets
Infosys, Zomato, and NTPC dragged the market lower, while Reliance, Kotak Mahindra Bank, and Tata Motors attempted to lift the indices.
Asian markets ended in the red as Japan’s Nikkei index fell by 2.17%, Hong Kong’s Hang Seng dropped by 0.57%, and China’s Shanghai Composite declined by 0.25%.
On March 6, Foreign Institutional Investors (FIIs) sold stocks worth ₹2,377.32 crore, whereas Domestic Institutional Investors (DIIs) bought shares worth ₹1,617.80 crore.
In the U.S. markets, the Dow Jones fell 0.99% to close at 42,579, while the S&P 500 and Nasdaq Composite declined by 1.78% and 2.61%, respectively.
Market Performance on March 6
On Thursday, March 6, the Sensex surged 609 points to close at 74,340, while the Nifty rose by 207 points to settle at 22,544. The biggest gains were seen in metal, pharma, and oil & gas stocks.
The Nifty Metal and Oil & Gas indices gained nearly 2.5%, while the Pharma and FMCG indices rose by approximately 1.5%. The Auto and Media indices closed with around a 1% gain. Among the Sensex stocks, Asian Paints, Reliance, and NTPC registered the highest gains.
