Lagatar24 Desk
Mumbai, Mar 21: Advances in information technology and metal companies were countered by losses in bank and consumer goods firms on Monday, sending Indian market indices lower.
Asian markets were cautious as hostilities in Ukraine continued with no indication of abating, leaving investors holding out hope for a peace settlement.
Back home, the 30-share BSE Sensex fell 138 points or 0.24 percent to 57,725, while the broader NSE Nifty moved 40 points or 0.23 percent down to 17, 246 in early trade at 10:18 a.m. Both the indices opened higher but soon gave up all gains in a volatile trade.
Mid- and small-cap stocks were slightly higher, with the Nifty Midcap 100 index up 0.17 percent and small-cap stocks up 0.30 percent.
The National Stock Exchange’s 15 sector indicators were trading in the red, with nine of them in the red. The Nifty Bank and Nifty FMCG indexes both underperformed the index, falling 0.65% and 0.66 percent, respectively. Nifty IT and Nifty Metal, on the other hand, rose 1.24 percent and 1.67 percent, respectively.
On a stock-by-stock basis, Asian Paints was the top Nifty loser, falling 1.56 percent to 3,087.55. The laggards were PowerGrid, Grasim Industries, Kotak Mahindra Bank, and Shree Cement.
On the BSE, the overall market breadth was positive, with 1,865 shares advancing and 1,005 decreasing.
PowerGrid, Kotak Bank, Hindustan Unilever, M&M, and SBI were among the top losers on the 30-share Asian Paints index.
