Stock Market Today: Stock Market Down for 6th Day | Sensex, Nifty fall: Metals, PSU losses

Indian stock markets closed lower today for the 6th consecutive trading day. Sensex, Nifty fell points.

The US Federal Reserve has announced that it will raise interest rates by up to 50 basis points in March. As a result, foreign investors continue to withdraw investment from the Indian market.

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The decline in Adani Group’s shares was also a major factor in the Indian stock market crash. When stocks of major companies fall, it shakes the confidence of investors in the stock market.

Indian stocks started trading on a positive note this morning, but could not sustain it. It started to slide later in the trade and did not recover until the evening.

At the close of evening trade, the BSE Sensex fell 141 points to close at 59,463 points. The Nifty fell 45 points to settle at 17,465 points on the national stock market.

Out of 30 major companies on the BSE, 12 stocks gained. Shares of 18 other companies ended lower.

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Adani Enterprises, Hindalco Industries, Mahindra & Mahindra and Tata Steel ended lower on the Nifty. Divis Laboratories, Adani Ports, Asian Paints, Coal India, Dr. Reddy’s Laboratories declined.

Among the Nifty sectors, metals fell 3 percent, while automobiles fell 1 percent.

Last Updated Feb 24, 2023, 4:02 PM IST


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