At 09:30 IST, the barometer index, the S&P BSE Sensex, was down 145.07 points or 0.23% to 72,930.41. The Nifty 50 index lost 46.50 points or 0.21% to 22,100.15.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.18% and the S&P BSE Small-Cap index added 0.84%.
The market breadth was strong. On the BSE, 2,096 shares rose and 827 shares fell. A total of 84 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,356.29 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 139.47 crore in the Indian equity market on 14 March, provisional data showed.
Stocks in Spotlight:
Wipro shed 0.37%. The company announced that it has been selected by Desjardins to transform their credit solutions for members and clients. This transformation program will provide Desjardins members and clients with a convenient digital lending experience that is accessible anytime, anywhere, and on any device.
RailTel Corporation of India surged 7.52% after the company has received the work order from Odisha Computer Application Centre (OCAC) amounting to Rs. 113.46 crore (Including GST).
Crompton Greaves Consumer Electricals rose 0.73% The company has bagged order(s)/ Letter of Empanelment from Government of Maharashtra, Haryana and Rajasthan for supply, installation, testing and commissioning of Solar Photovoltaic Water Pumping System (SWPS) with PV Modules under the esteemed PM-KUSUM Scheme at various location across the respective states.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.14% to 7.051 as compared with previous close 7.041.
MCX Gold futures for 5 April 2024 settlement advanced 0.19% to Rs 65,717.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was added 0.07% to 103.43.
The United States 10-year bond yield shed 0.40% to 4.283.
In the commodities market, Brent crude for May 2024 settlement fell 16 cents or 0.19% to $ 85.26 a barrel.
Global Markets:
Asian stocks declined on Friday tracking overnight losses on Wall Street after a hot US inflation report.
Chinas central bank left a key lending rate unchanged for a seventh month. The Peoples Bank of China kept the interest rate on its one-year medium-term lending facility loans at 2.50%.
U.S. stocks ended lower on Thursday after higher-than-estimated US producer prices in February suggested that the US Federal Reserve could reduce the number of rate cuts this year.
US producer price index for final demand rose 0.6% last month after advancing by an unrevised 0.3% in January. The gauge rose 1.6% from a year earlier, the largest annual advance since September. US retail sales rose 0.6% last month. Data for January was revised lower to show sales tumbling 1.1% instead of the previously reported 0.8%, while sales in December were also downgraded.
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