Market Closing: Sensex falls 1,172-pts, Nifty Below 17,200

Indian equity benchmarks sank dramatically on Monday, backed by severe selling pressure in IT and financial stocks. The domestic indices fell for the fourth straight session as Infosys and HDFC Bank fell after missing earnings projections for the March quarter (2021-22). Investor sentiment was also harmed by the ongoing Russia-Ukraine conflict and fears about rising prices.

The 30-share BSE Sensex fell 1,172 points, or 2.01%, to close at 57,167, while the broader NSE Nifty down 302 points, or 1.73 percent, to 17,174. Mid- and small-cap stocks ended the day lower, with the Nifty Midcap 100 index down 1.05 percent and the small-cap index down 1.25 percent. BSE-listed companies' market capitalization fell approximately Rs 2.55 crore to Rs 269.48 lakh crore.

The NSE's 15 sector indicators all finished in the red. Nifty IT and Nifty Bank fell 4.58 percent and 1.96 percent, respectively, underperforming the index. The top Nifty loser was Infosys, which fell 7.22 percent to Rs 1,622.30. The laggards included HDFC Housing and HDFC Bank, as well as Tech Mahindra and Apollo Hospitals. Infosys, HDFC twins, TechM, Wipro, TCS, HCL Tech, Asian Paints, Kotak Mahindra Bank, and SBI were among the worst performers on the BSE index.

NTPC, Tata Steel, Maruti, Titan, M&M, Hindustan Unilever, PowerGrid, Nestle India, Axis Bank, and ITC, on the other hand, ended the day in the green.

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