Stock market today: Sensex, Nifty fall for 3rd consecutive session; IT stocks among top drags; mid, smallcaps outperform
Wipro, HCL Tech and TCS among the top losers, amid weak global cues. Weak global cues kept the mood low back home as strong US retail sales print for March strengthened worries that the US Federal Reserve may delay rate cuts this year.
Among the Asian peers, KOSPI, Hang Seng, Shanghai Composite Index and Nikkei fell up to 2 per cent while major European markets, such as FTSE, CAC and DAX, traded over a per cent lower when the Sensex closed. Rising geopolitical tensions boosted crude oil prices and dealt a blow to the risk appetite of investors who ruched to safer assets such as gold and the US dollar.
The US dollar climbed to more than five-month highs while gold prices hovered near record-high levels. Sensex closed 456 points, or 0.62 per cent, lower at 72,943.68 while the Nifty 50 ended with a loss of 125 points, or 0.56 per cent, at 22,147.90.
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