BAROMETERS WITNESS PROFIT BOOKING; PRIVATE BANK SHARES DROP
Published on Mar 26, 2025 14:34
The key benchmark indices traded with moderate losses in mid-afternoon trade as the markets experienced volatility. The Nifty traded below the 23,550 level after hitting the day`s high of 23,736.50 in early trade. Shares of private banks declined after experiencing buying demand for seven consecutive trading sessions.
At 14:25 IST, the barometer index, the S&P BSE Sensex dropped 543.70 points or 0.70% to 77,475.22. The Nifty 50 index lost 130.25 points or 0.55% to 23,538.40.
In the broader market, the S&P BSE Mid-Cap index shed 0.35% and the S&P BSE Small-Cap index declined 1.15%.
The market breadth was weak. On the BSE, 1,040 shares rose and 2,929 shares fell. A total of 128 shares were unchanged.
Buzzing Index:
The Nifty Private Bank declined 1.02% to 25,597.40. The index rallied 7.95% in the past seven trading sessions.
Axis Bank (down 2.15%), Kotak Mahindra Bank (down 1.56%), Federal Bank (down 1.02%), HDFC Bank (down 0.79%), ICICI Bank (down 0.45%) and IDFC First Bank (down 0.44%) declined.
Numbers to Track:
The yield on India`s 10-year benchmark federal paper advanced 1.18% to 6.711 as compared with the previous close of 6.740.
In the foreign exchange market, the rupee was flat against the dollar at 85.7250.
MCX Gold futures for the 4 April 2025 settlement rose 0.11% to Rs 87,664.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.05% to 104.26.
The United States 10-year bond yield advanced 0.32% to 4.322.
In the commodities market, Brent crude for May 2025 settlement advanced 31 cents or 0.42% to $73.33 a barrel.
Stocks in Spotlight:
Trent surged 3.03% after the company announced the expansion of its Westside retail chain with new store openings in Jodhpur, Jaipur, and Chennai.
Bajaj Steel Industries declined 2.36%. The company said that it has received an export order worth about Rs 43 crore ($5.03 million) from an international client.
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