Winning Bizness Desk

Mumbai. The Indian stock market saw a decline for the fifth consecutive trading day on Wednesday as it fell by 344 points to close at 57,556. The Nifty also dropped 123 points, closing at 16,972. Out of 30 Sensex stocks, 21 declined and only 9 went up. Banking stocks were at the forefront of market selling. Due to the fall of 5 days in the market, investors lost about 8.5 lakh crore rupees. The total market cap of companies listed on BSE decreased to Rs 255.76 lakh crore on 15 March. It was Rs 264.30 lakh crore on March 9.

Adani Enterprises shares up by 5.74%

Out of 10 stocks of Adani Group, 7 have witnessed an increase and 3 have seen a decline. Shares of the group's flagship company Adani Enterprises rose 5.74%. Adani Ports gained 4.19%. However, shares of Adani Total Gas, Power and ACC declined. US markets saw a boom on Tuesday. The Dow Jones gained 336.26 points, or 1.06%, and closed at 32,155.4. The S&P 500 index gained 64.8 points to close at 3,920.56. The Nasdaq Composite gained 239.31 points and closed at 11,428.15.

FII were net sellers

On Tuesday, there was a decline in the Indian stock market and Sensex fell 337 points to close at 57,900. The Nifty also fell 111 points, closing at 17,043. Out of 30 Sensex stocks, 23 declined and only 7 advanced. Foreign Institutional Investors (FII) were net sellers in the March 14 trade. At the same time, Domestic Institutional Investors (DII) remained net buyers. As per the provisional data available on NSE, FII withdrew Rs 3086.96 crore from the market. DIIs bought shares worth Rs 2121.94 crore.

Wholesale inflation at 25-month low

The government released the Wholesale Inflation Rate (WPI) data yesterday. According to this, the wholesale inflation has come down to 3.85% in February. This is the lowest level in 25 months. The wholesale inflation rate in January 2023 was 4.73%. The wholesale inflation rate in December was 4.95%. Due to the cheapness of items like potato, onion, fuel, there has been a decline in inflation. It was 4.83% in February 2021 and 2.03% in January 2021.