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(As on Mar 10, 2023, 18:47)

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Post-Session: Sensex drops 671 pts; bank stocks tank

Benchmark stock indices Sensex and Nifty tanked more than 1 per cent on Friday due to heavy selling in IT, financial and oil stocks in line with weak trends in the global markets.

Axis Bank, Bajaj Finserv, M&M, L&T, Reliance, Infosys and TCS were among the major losers.

In contrast, Tata Motors, Maruti, NTPC, Sun Pharma, Power Grid and Titan were among the gainers.

Heavy selling in financial, banking, IT and capital goods shares triggered by weak Asian markets and overnight losses in the US market dragged down the benchmark indices, analysts said.

The 30-share benchmark index ended at 59135.13 down by -671.15 points or by -1.12 % and then NSE Nifty was at 17412.9 down by -176.7 points or by -1 %.

Sensex touched intraday high of 59262.47 and intraday low of 58884.98 The NSE Nifty touched intraday high of 17451.5 and intraday low of 17324.35

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 435.75,+0.82%), Maruti Suzuki India Ltd. (Rs. 8607.00,+0.76%), NTPC Ltd. (Rs. 180.80,+0.75%), Sun Pharmaceutical Industries Ltd. (Rs. 955.70,+0.37%), Power Grid Corporation of India Ltd. (Rs. 226.55,+0.31%), among others.

The top losers of the BSE Sensex pack were HDFC Bank Ltd. (Rs. 1588.65,-2.63%), State Bank of India (Rs. 547.25,-2.12%), Housing Development Finance Corporation Ltd. (Rs. 2613.00,-2.09%), IndusInd Bank Ltd. (Rs. 1146.00,-2.02%), Axis Bank Ltd. (Rs. 851.75,-1.89%), among others.

Power index was at 3591.76 up by 38.51 points or by 1.08%. Adani Green Energy Ltd. (Rs. 683.05,+5.00%), Adani Transmission Ltd. (Rs. 903.85,+5.00%), Adani Power Ltd. (Rs. 205.25,+4.69%), NTPC Ltd. (Rs. 180.80,+0.75%), NHPC Ltd. (Rs. 41.04,+0.61%),.

Bankex index was at 45821.28 down by -863.22 points or by -1.85%. HDFC Bank Ltd. (Rs. 1588.65,-2.63%), Bank of Baroda (Rs. 167.80,-2.16%), State Bank of India (Rs. 547.25,-2.12%), IndusInd Bank Ltd. (Rs. 1146.00,-2.02%), Axis Bank Ltd. (Rs. 851.75,-1.89%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3870 , shares advanced were 1529 while 2200 shares declined and 141 were unchanged.

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