Sensex, Nifty end lower as IT stocks slide; Zee falls 14%

The BSE Sensex fell by 434.31 points, or 0.59 per cent, closing at 72,623.09, while the broader NSE index dropped 129.65 points, or 0.58 per cent, to finish at 22,067.3.

Benchmark stock market indices continued their upward trajectory for the fifth consecutive session, with the Nifty 50 index reaching a new high.

However, the BSE Sensex faced a setback, dropping by 434.31 points, or 0.59 per cent, to settle at 72,623.09. Similarly, the broader NSE index also saw a decline, losing 129.65 points, or 0.58 per cent, ending the day at 22,067.3.

This break in the upward trend was primarily attributed to declines in information technology stocks, amid diminishing hopes of prompt interest rate cuts in the US, along with a slump in energy stocks.

Shares of Zee Entertainment Enterprises Limited (ZEEL) plunged by 14 per cent, ending the day at Rs 165.65.

Published By:
Sonu Vivek
Published On:
Feb 21, 2024