MARKET UPDATE:Sensex fell 688 points to 55,170, while Nifty at 16,481, lower by 177 points
Published On: Monday, February 28, 2022 | By: Team KnowMyStock
In tune with weakness in Asian and global markets, the Indian benchmark indices started trade lower today(28th Feb.2022) amid the Russia-Ukraine conflict uncertainty. The BSE Sensex fell 688 points to 55,170, while the NSE Nifty was at 16,481, lower by 177 points. Among the Sensex-30 shares, Tata Steel and PowerGrid were the only gainers, up to 1 percent higher. Bharti Airtel, HDFC Bank, Dr. Reddy's, Asian Paints, Maruti, M&M, Bajaj Finserv, Kotak Bank, and Axis Bank, meanwhile, were the top losers, down up to 3 percent. In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down 1 percent each.
Among sectors, the BSE Auto, Telecom, Bankex, and Realty indices slipped 2 per cent each, while IT and Pharm were down over a per cent each. BSE Metals was the outperformer and was flat in a weak market.
Individually, shares of Biocon were down over 3 per cent each after the company said its arm Biocon Biologics will acquire Viatris Inc's biosimilar assets for a stock and cash deal of $3.3 billion.
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