Stock Market: Sensex Falls 251 Points, Nifty Ends Below 17,800 On Weak Cues. SBI Slips 2.8 Per Cent

Stock update: On the 30-share Sensex platform, SBI, Infosys, TechM, Bajaj Finance, TCS, Wipro closed in the red. On the flip side, Titan, L&T, NTPC, PowerGrid, Sun Pharma, ITC emerged winners

In the broader markets, the BSE Midcap and Smallcap indices were down over a per cent each.

Source : Getty

Sensex and Nifty, the two key benchmarks slipped into the red on Monday ahead of the key inflation numbers in India and the US.

The S&P BSE Sensex recouped some of the day's losses and eventually settled 251 points lower at 60,432. On the other hand, the NSE Nifty 50 hit a low of 17,720, before settling with a loss of 86 points at 17,771.

On the 30-share Sensex platform, SBI, Infosys, TechM, Bajaj Finance, TCS, Wipro closed in the negative territory. On the flip side, Titan, L&T, NTPC, PowerGrid, Sun Pharma, ITC emerged winners.

#ABPLiveStockMarketWatch | Indian equity benchmarks closed in red on Monday

At 04:00 PM, #Sensex tanked 251 points to 60,432 & #Nifty was down 86 points to close at 17,771

Here's a look at the stocks in focus:#ClosingBell #ABPLive #MarketWatch pic.twitter.com/h8b1VQDngV

— ABP LIVE (@abplive) February 13, 2023

Among specific shares, Adani Group witnessed a broad-based selling pressure after the Group cut revenue target and capex plans amid the current market rout. The flagship firm, Adani Enterprises tanked nearly 8 per cent. Adani Ports, Adani Power, Adani Green, Adani Transmission, Adani Wilmar, Ambuja Cement and NDTV plunged 5 per cent each. ACC was down 3 per cent.

In the broader markets, Lupin cracked 8.5 per cent after brokerages downgraded the stock following its weak Q3 performance. Oil India soared nearly 9 per cent to an eight-month high in a weak market after the company reported its highest-ever quarterly profit of Rs 1,746.1 crore in Q3FY23.

In the broader markets, the BSE Midcap and Smallcap indices were down over a per cent each.

The overall breadth too was fairly negative, with nearly two declining stocks for every advancing share on the BSE.

In the previous session on Friday, the S&P BSE Sensex fell 124 points (0.2 per cent) to end at 60,682. On the other hand, the NSE Nifty50 closed at 17,857, down 37 points (0.2 per cent).

Meanwhile, the rupee fell by 15 paise to close at 82.73 (provisional) against the US currency on Monday, weighed down by gains in the greenback in the overseas markets and a muted trend in domestic equities.

Firm crude oil prices further dented investor sentiments, forex traders said.

At the interbank foreign exchange market, the rupee opened at 82.68 against the greenback, and fell to an intra-day low of 82.77. It finally settled at 82.73 (provisional), down 15 paise over its previous close. In the previous session on Friday, the rupee settled at 82.58 against the dollar.

Global oil benchmark Brent crude futures declined 1.19 per cent to $85.36 per barrel.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 1,458.02 crore, according to exchange data.