The Nifty50 and the Sensex extended losses as concerns over oil and gas supply shortage continued to roil risk appetite.
The Nifty50 was trading 0.49 per cent or 111.95 points down at 23,038, and the Sensex was trading 0.52 per cent or 385.62 points down at 74,178.30.
UltraTech Cement, Grasim Industries, JSW Steel, and InterGlobe Aviation were the top gainers in the Nifty50 index.
Broader markets underperformed benchmark indices, the Nifty MidCap and the Nifty SmallCap were trading 0.28 per cent and 0.75 per cent down, respectively.
Sector-wise, the Nifty Realty declined the most shortly after opening to become the worst-performing sectoral index. Meanwhile, the Nifty FMCG outperformed the sectoral indices.
The Brent crude continued to trade well above the crucial $100-per-dollar mark in the Asia session as tensions increased about the safety of oil production infrastructure in Iran. US President Donald Trump is mulling options to strike oil infrastructure at Kharg Island, Iran’s oil export hub, news reports said, quoting Mike Waltz, US ambassador to the United Nations.
Brent’s May future contract was trading 1.23 per cent higher at $104.44 per barrel on the Intercontinental Exchange.
IPO Today
GSP Crop Science’s initial public offering is opening for subscription on Monday. It’s a book-build issue of ₹400 crore, which consists of both fresh issue and offer for sale (OFS).
The IPO will close for subscription on Wednesday. The tentative listing is on March 24.
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