Stock Market Today: Sensex Dips 200 Points; Nifty Trades Below 22,000. IT Drags

Stock update: On the 30-share Sensex platform, HCLTech, Wipro, Infosys, TCS, TechM, Tata Motors emerged losers. Sun Pharma, ITC, ICICI Bank, Airtel, Titan, PowerGrid were among the gainers

In the broader markets, the BSE Midcap was trading flat, while the SmallCap index rose 0.5 per cent. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, on Friday opened in the red, tracking subdued Asian cues. At 9.55 am, the BSE Sensex dropped 193 points to 72,448. On the other hand, the NSE Nifty50 was trading at 21,961, down 51 points.

On the 30-share Sensex platform, HCLTech, Wipro, Infosys, TCS, TechM, Tata Motors emerged losers. On the flip side, Sun Pharma, ITC, ICICI Bank, Airtel, Titan, PowerGrid were among the gainers.

#ABPStockMarketWatch | Sensex and Nifty are trading marginally higher amid volatility, on Friday

At 10:25 AM, #Sensex gained 102 points to open at 72,743 and #Nifty gained 39 points to open at 22,050

Here's a look at the stocks in focus:#ABPLive #OpeningBell #MarketWatch pic.twitter.com/RqqlY4bADS

— ABP LIVE (@abplive) March 22, 2024

In the broader markets, the BSE Midcap was trading flat, while the SmallCap index rose 0.5 per cent.

Sectorwise, mixed trend can be seen on the sectoral front, with IT index declined 3 per cent. On the other hand, realty index rose1 per cent.

In the previous session on Thursday, the S&P BSE Sensex gained 540 points to 72,641, while the NSE Nifty50 settled at 22,012, up 173 points.

"IT is likely to remain under pressure in view of the poor guidance from Accenture," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

In the Asian trading sessions, Seoul, Shanghai, and Hong Kong saw declines, while Tokyo witnessed gains. On the other hand, Wall Street concluded with positive movements on Thursday.

Exchange data reveals that Foreign Institutional Investors (FIIs) disposed of equities valued at Rs 1,826.97 crore on Thursday.

Brent crude, the global oil benchmark, experienced a 0.71 per cent decrease, settling at $85.17 per barrel.

Meanwhile, on Friday, the Indian rupee weakened by 20 paise against the US dollar to reach 83.33, attributed to the stronger performance of the greenback in international markets and heightened purchasing of dollars by importers.

In the interbank foreign exchange market, the rupee initiated trading at 83.28, down from its previous close of 83.13 against the dollar. Throughout the morning transactions, it fluctuated within the range of 83.23 to 83.33. By 9:30 am, the rupee was trading at 83.33 against the dollar, marking a decline of 20 paise from its previous closing value of 83.13.