Last update: March 15, 2024 3:40 PM IST
NSE Nifty 50 fell to a low of 21,932 but ended up maintaining the 22,000 level as it closed down 123 points at 22,023.
Mahindra & Mahindra was the biggest decliner among Sensex 30 stocks, down 5 per cent. Tata Motors, HCL Technologies, NTPC, Larsen & Toubro, Asian Paints, SBI, Axis Bank, Sun Pharma, Infosys, UltraTech Cement, Tech mahindra and Reliance Industries were the major losers, falling 1-3 per cent each.
On the positive side, Bharti Airtel broke its all-time high and closed with a gain of 2%.
Among other stocks, HPCL, Indian Oil and BPCL fell 6-8 per cent after the government cut prices of petrol and diesel by Rs 2 per liter from today.
global cue
Asian stocks tumbled, tracking a technology-led decline overnight after higher-than-expected U.S. inflation unraveled bets on how much and how often the Federal Reserve will cut interest rates.
Tokyo stocks opened lower on Friday after inflation concerns sent stocks lower on Wall Street. In early trading, the benchmark Nikkei 225 index fell 0.60%, or 231.47 points, to 38,575.91, while the Topix index fell 0.21%, or 5.48 points, to 2,656.11.
U.S. stocks fell Thursday, chipmaker shares extended losses for a second day and producer prices soared, leaving investors wondering whether the Federal Reserve will wait longer than expected to cut interest rates.