Sensex tumbles 440.09 points to 50,405 in opening trade; Nifty drops 124.75 points to 14,956

The domestic indices opened with a fall on Friday (March 5). The Sensex tumbles 440.09 points to 50,405.99 in opening trade; Nifty drops 124.75 points to 14,956.

Wall Street slumped on Thursday (March 4) and global stock markets declined after U.S. Federal Reserve Chair Jerome Powell repeated his pledge to keep credit flowing until Americans are back to work, rebutting investors who have openly doubted he can stick to that promise once the pandemic passes. This downfall has been reflected in the Indian indices. 

HDFC Bank, ICICI Bank, Housing Development Finance Corporation, Axis Bank, State Bank of India, Bajaj Finance were some of the major contributors to the fall in Sensex. 

ONGC, NTPC, Maruti Suzuki, Tech Mahindra, HCL Tech, Titan Company were the major gainer in the Sensex.

The domestic Equity market went lower on Thursday (March 4) as the rising bond’s yield slipped din the global markets. SGX Nifty was in red falling 180 points on Friday (March 5) morning. 

BSE Sensex was trading over 200 points down at 50,635, while the Nifty 50 indices slipped below crucial 15,000, falling 116 points or 0.77 per cent.

The US Senate voted on Thursday to take up President Joe Biden`s $1.9 trillion coronavirus aid bill, setting up what is likely to be a day-long debate. Oil prices rose for a second straight session.

US crude recently rose 4.72 per cent to $64.17 per barrel and Brent was at $67.16, up 4.82 per cent on the day.

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