Stock market extends losses, indices loss nearly 1%
The Nifty Midcap and Smallcap indices declined 0.4% and 0.7%, respectively.
The Nifty Midcap and Smallcap indices declined 0.4% and 0.7%, respectively.
At the close, the Sensex fell 1,342.27 points, or 1.72%, to 76,863.71, while the Nifty dropped 394.75 points, or 1.63%, to 23,866.85.
Broader indices underperformed the main indices with Nifty Midcap and Smallcap indices shed 2 each. The market capitalisation of BSE-listed companies fell by more than Rs 8 lakh crore to Rs 441 lakh crore.
Sensex jumped to its record high of 83,773.61 before ending at 83,184.80 with a gain of 237 points, or 0.29%. The Nifty 50 rose to its fresh high of 25,611.95 but settled 38 points, or 0.15%, higher at 25,415.80.
The RBI said the rupee is among the least volatile currencies and is steadily appreciating. "The INR has been bolstered by a pick-up in foreign direct investment by 11.4 percent year-on-year in October-December 2023," it said.
On the Sensex chart, Axis Bank, Tech Mahindra, ONGC, Dr Reddy's, Bajaj Finance and Sun Pharma were major laggards.
The laggards on the Sensex pack were led by the Titan that slipped around 2 per cent, followed by Nestle India, HUL, HCL Tech, Infosys, ITC and Kotak Bank.
