Top 5 stocks of the day: Adani Enterprises, M&M, SBI Life Insurance, Reliance Industries and Adani Ports were among the biggest losers on the Nifty, while gainers included Tata Steel, Larsen and Toubro, Bharti Airtel, Apollo Hospitals and Axis Bank. FMCG, Realty, auto and IT down 1 percent each, while buying was seen in the metal and power names. The BSE midcap index shed 0.55 and smallcap index fell 0.2 percent.
Top 5 stocks of the day: Sensex and NSE Nifty50
On March 9, the benchmark indices in India finished lower, with the Nifty around 17,600. At closing, the Nifty was at 17,589.60 and the Sensex was down 164.80 points, or 0.93%, at 59,806.28. A total of 112 shares are unchanged, 1558 shares are up, and 1858 shares are down.
Oil slips for third day as recession fears mount
On Thursday, oil fell for a third day, countered by worries about the economic effects of rising interest rates and optimism about Chinese demand.
In light of the likelihood that interest rates will need to be raised more than initially anticipated in response to recent strong data, U.S. Federal Reserve Chair Jerome Powell’s remarks this week continued to put pressure on oil and other risk assets due to the potential impact on economic and demand growth.
As of 0902 GMT, Brent crude had lost 34 cents, or 0.4%, to reach USD 82.32 per barrel, while US West Texas Intermediate (WTI) crude had lost 11 cents to reach USD 76.55. The previous two days saw a 4% to 5% decline in both benchmarks.
Dollar holds near three-month highs on rates outlook
On Thursday, the dollar held close to a three-month high, supported by remarks made by Federal Reserve Chair Jerome Powell about the need for higher and possibly quicker interest rates.
After the government announced unexpectedly low inflation, the yuan declined.
The US dollar index decreased 0.05% to 105.57, staying close to the three-month high of 105.88 reached on Wednesday.
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