- The BSE Sensex retreated more than 700 points, or 1.01%, to settle at 72,012.05.
- The Nifty Midcap 100 closed at 45,926.30, down over 600 points, or 1.24%.
- Due to the strong US dollar, sluggish local markets, rising crude oil prices, and FII outflows, the Indian Rupee fell by 0.09%.
The sell-off in the IT and FMCG sectors caused the benchmark equity indices to close lower on March 19. The BSE Sensex retreated more than 700 points, or 1.01%, to settle at 72,012.05.
The NSE Nifty 50 closed 238 points, or 1.08% lower. But the larger indices ended the day lower, with pressure on midcap and smallcap companies. The Nifty Midcap 100 closed at 45,926.30, down over 600 points, or 1.24%.
Sensex and Nifty
Eicher Motors, Bharti Airtel, Kotak Bank, Bajaj Auto, and Bajaj Finance were the biggest gainers in the Nifty 50. The main losers in the Nifty 50 on March 19 were BPCL, TCS, Cipla, Tata Consumer Products, and Dr. Reddy’s Laboratories.
From its previous price of Rs 1,415.20, Patanjali Foods shares dropped more than 5.2% to an intraday low of Rs 1,341.45. Due to the strong US dollar, sluggish local markets, rising crude oil prices, and FII outflows, the Indian Rupee fell by 0.09% on Tuesday.
The Bank of Japan hiked interest rates for the first time since 2017, ending its negative interest rate regime and doing away with its yield curve control (YCC), which helped the US Dollar gain strength against the weakening yen.
Because of the strong dollar and the likelihood of an unchanged US monetary policy later this week, the Rupee is expected to trade with a negative bias on risk aversion in global markets. Global risk perceptions also declined as a result of stable crude oil prices and heightened geopolitical tensions between Russia and Ukraine.
