Market at day's low, Sensex tumbles 414 pts; Nifty slides below 22,100

The domestic equity benchmarks dropped sharply and hit the days low in the mid-afternoon trade. The Nifty slipped below the 22,100 level. Media witnessed profit booking after advancing in the past three trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, tumbled 413.91 points or 0.57% to 72,643.49. The Nifty 50 index declined 118.30 points or 0.53% to 22,078.65.

In the broader market, the S&P BSE Mid-Cap declined 0.98% and the S&P BSE Small-Cap index shed 0.60%.

The market breadth was weak. On the BSE, 1,510 shares rose and 2,293 shares fell. A total of 117 shares were unchanged.

Buzzing Index:

The Nifty Media index slipped 4.39% to 2,125.45. The index witnessed profit booking after advancing 3.70% in the past three trading sessions.

Zee Entertainment Enterprises (down 12.85%), Dish TV India (down 5.45%), Nazara Technologies (down 3.04%), Network 18 Media & Investments (down 2.61%), Hathway Cable & Datacom (down 2.21%), TV18 Broadcast (down 1.55%) and Sun TV Network (down 1.05%) slipped.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.23% to 7.046 as compared with the previous close of 7.062.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.9375, compared with its close of 82.9700 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.07% to Rs 62,046.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 104.10.

The United States 10-year bond yield rose 0.07% to 4.279.

In the commodities market, Brent crude for April 2024 settlement lost 53 cents or 0.64% to $82.34 a barrel.

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