Sensex Today: Benchmark indices ended lower on March 2 with around 17,300 amid selling across the sectors barring realty, power and oil & gas. The BSE Sensex shed 502 points to 58,909, while the NSE Nifty ended 129 points lower at 17,322.
Maruti Suzuki, Axis Bank, TCS, SBI Life Insurance and M&M were among the biggest lowers on the Nifty, while gainers included Adani Ports, Adani Enterprises, Coal India, BPCL and Hero MotoCorp.
Adani Group shares bucked the trend and ended with smart gains even as the Supreme Court directed SEBI to probe if there were violations of the Securities Act, into allegations of share manipulation and failure to disclose related party transactions. The apex court has asked the market regulator to submit its report in two months.
Among the Group stocks, shares of the flagship firm Adani Enterprises ended nearly 2 per cent higher, having gained as much as 17 per cent in intra-day deals. Adani Power, Adani Green, Adani Transmission, Adani Wilmar, and NDTV were locked at the 5 per cent upper limit. ACC, Ambuja Cements, Adani Ports, and Adani Total Gas added 2 – 4 per cent each.
Vinod Nair, Head of Research at Geojit Financial Services, said: “Global markets turned back to selling mode with the US 10-year bond yield crossing 4 per cent as a fresh set of US data suggested that inflation will remain elevated for a longer period. Rising bond yields are driving foreign money out of emerging markets, and as a result, FIIs were net sellers in the domestic market for the sixth consecutive day. Mid- and small-cap stocks continued to show resilience with mild selling compared to their larger peers.”
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