Sensex drops 250 points, Nifty 70 points
BBN Burea
Mumbai: Caught in the headwind of global cues like reports of further delay for the rate cut by the US, and losses in peers, the Indian equity market is moving down in intra-day trading on April 3 (Wednesday).
So far in the day, the S&P BSE Sensex dropped 250 points and reached 73,650 levels. The NSE Nifty 50 declined 70 points and is currently at 22,385 levels.
Of the gainers, UltraTech Cement leads the pack with a gain of 2 per cent after the company had announced its plan to invest up to Rs32,400 crore in the next three years in the ongoing expansion projects of the company. Tech Mahindra and HCL Technologies were other prominent gainers. On the other hand, Bharti Airtel, Sun Pharma, and select banks were the top losers.
In the broader market, the BSE MidCap advanced 0.2 points, and the SmallCap added 0.7 per cent.
Other major Asian markets are moving at a considerable loss. Japan’s Nikkei and Malaysia’s Kospi declined over 1 per cent each, while Taiwan was down 0.5 per cent
In commodity markets, Gold futures set a new record in gain as the precious metal crossed the $2,300 per ounce.
