Markets News

Indian Market closed at 3% lower for February 26

Indian market closed at 3% lower for February amid volatility in the markets.

The benchmark indices fell down by almost 4 percent on Friday, February 26th after stiff competition between bulls.

Further, this is the sixth biggest fall in the past 20 years on a single day. The Indian market closed the last week of February with a 3 percent decline.

However, the high hopes of US inflation aided by geopolitical tensions between US and Iran are also one of the factors behind huge sell-off.

The Sensex drop by 1,789.77 points on a weekly basis. It fell almost by 3.5 percent to close at 49099.99 levels on weekly analysis.

Meanwhile, the Nifty50 slipped 452.6 points to close at 14,529.15 levels shedding 3 percent.

Apart from this, the BSE Smallcap indices moved up by 1.4 percent.

On the gainers side, Hindustan Copper, RCF, Reliance Power, Rane Madras, National Fertilizers and MMTC among others added 30-74%.

On the other hand, Asian Granito India, Tejas Networks, Central Bank of India along with Karda Constructions shed 10-24%.

BSE Midcap was also down by 0.28% whereas, BSE Largecap index slipped by 3%.

On the currency spot, the Indian rupee closed lower by 81 paise at 73.46 per dollar.

Also, the Nifty Metal index however added 7.6% in the rally.

The Nifty IT index further fell by 4.7% whereas the Nifty Auto Index too slipped by 3.5 percent.

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