SENSEX DROPS 218 PTS; IT SHARES TUMBLE
Published on Mar 04, 2025 10:34
The domestic equity indices traded with minor losses in morning trade, as market sentiment was dampened by US President Donald Trump�s decision to implement tariffs on Canada and Mexico starting today, along with Canada�s retaliatory tariffs on US goods. The Nifty traded below the 22,100 level. IT shares declined after advancing for the previous trading session.
At 10:30 ST, the barometer index, the S&P BSE Sensex, declined 218.03 points or 0.29% to 72,870.64. The Nifty 50 index fell 61.85 points or 0.28% to 22,057.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.09% and the S&P BSE Small-Cap index added 1.22%.
The market breadth was positive. On the BSE, 2,314 shares rose and 1,249 shares fell. A total of 172 shares were unchanged.
Buzzing Index:
The Nifty IT index shed 0.91% to 19,795.90. The index added 0.79% in previous trading sessions.
LTIMindtree (down 2.81%), Persistent Systems (down 1.73%), HCL Technologies (down 1.55%), Infosys (down 1.44%), Tech Mahindra (down 1.11%), L&T Technology Services (down 0.74%), Mphasis (down 0.55%), and Wipro (down 0.34%) declined.
On the other hand, Tata Consultancy Services (up 0.55%), Coforge (up 0.07%) added.
Stocks in Spotlight:
REC added 1.56% after the company�s board will consider a revision of the Market Borrowing Programme for FY25 on March 27.
Wendt (India) jumped 7.49% after the company�s board approved to incorporate a wholly owned subsidiary in Germany, aiming to expand its business in Europe and provide services catering to the machine building/superabrasive customers in Europe.
CEAT rose 0.58%. The company has received the certificate of incorporation for its subsidiary in Sri Lanka, CEAT OHT Private, signaling a regional expansion.
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