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Sunday, March 3, 2024

Weekend Markets: Stocks to Buy Today, Sensex, Nifty Fall for Second Day


<p>The important equity indexes, the Sensex and the Nifty, saw a second straight day of declines on Friday due to losses at HDFC Bank and ICICI Bank, as well as a downturn in the Asian and European stock markets.<img decoding=”async” class=”alignnone wp-image-123797″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-weekend-markets-stocks-to-buy-today-sensex-nifty-fall-for-second-day-images-98-11zon.jpg” alt=”theindiaprint.com weekend markets stocks to buy today sensex nifty fall for second day images 98 11zon” width=”1022″ height=”587″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-weekend-markets-stocks-to-buy-today-sensex-nifty-fall-for-second-day-images-98-11zon.jpg 296w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-weekend-markets-stocks-to-buy-today-sensex-nifty-fall-for-second-day-images-98-11zon-150×86.jpg 150w” sizes=”(max-width: 1022px) 100vw, 1022px” title=”Weekend Markets: Stocks to Buy Today, Sensex, Nifty Fall for Second Day 6″></p>
<p>After the RBI announced its monetary policy and made the surprise decision to restrict the amount of cash in the banking system, the domestic market remained depressed.</p>
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<p>The 30-share BSE Sensex fell 365.53 points (0.56%), or 65,322.65, to finish the day. It dropped by 413.57 points or 0.62% over the day to finish at 65,274.61.</p>
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<p>The NSE Nifty, meanwhile, fell by 114.80 points, or 0.59%, to end at 19,428.30.</p>
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<p>IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank, and Tata Motors were a few of the top losses in the Sensex group.</p>
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<p>On the other hand, companies including HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India, and Mahindra & Mahindra saw profits.</p>
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<p>The Reserve Bank of India (RBI) decided to keep its benchmark interest rates unchanged for a third meeting in a row on Thursday, but it also hinted at possible policy tightening in the event that rising food prices continue to drive inflation higher.</p>
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<p>The unanticipated decision to boost the incremental cash reserve ratio (I-CRR) to 10% on additional NDTL (net demand and time liabilities) during the previous three months further underlined this hawkish posture.</p>
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<p>With this action, the government hopes to absorb a significant chunk of the surplus liquidity brought about by the RBI’s sizable dividend payment to the government and the reissuance of Rs. 2,000 notes.</p>
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<p>While European markets traded in the red, Asian markets in Seoul, Shanghai, and Hong Kong also finished in the red. In contrast, US markets ended Thursday’s trading session up.</p>
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<p>According to exchange statistics, foreign institutional investors (FIIs) bought shares worth Rs. 331.22 crore on Thursday.</p>
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<p>The price of Brent crude, the benchmark for all crude oil, fell by 0.57% to USD 85.91 a barrel.</p>
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