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The BSE Sensex and NSE Nifty ended the day down 155 points and 54 points, respectively as investors booked profits on account of rising inflation and economic concerns.
The Sensex closed at 17,923.57, down 154.93 points (0.86 per cent) while the Nifty closed at 5,429.30, down 54 points (0.98 per cent).
After opening in the green, the Indian markets slipped into the negative territory as investors grew cautious about the rising crude oil prices which could possibly push up inflation.
“Market has been correcting for the past three days after touching a high of 5,629.95 on February 22. Nifty lost almost 200 points in a short span and the correction seems to be overdone. Technical recovery can be expected at lower levels of 5,400-5,375. Global developments related to Greece and US economy will continue to influence the market sentiments,” said Ms Shanu Goel, Senior Research Analyst, Bonanza Portfolio.
However, global stocks climbed on US data signalling economic recovery. Also, oil prices advanced for the seventh day in a row. The European markets as well as the Asian markets were up by around 0.7 per cent and 0.5 per cent, respectively.
Top gainers on the BSE were Sterlite Industries, Tata Power and Coal India, while the top losers were L&T, HDFC and DLF.
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