{"id":31563,"date":"2023-02-24T10:25:15","date_gmt":"2023-02-24T10:25:15","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/02\/24\/sensex-nifty-extend-recent-declines-as-metal-stocks-drag\/"},"modified":"2023-02-24T10:25:15","modified_gmt":"2023-02-24T10:25:15","slug":"sensex-nifty-extend-recent-declines-as-metal-stocks-drag","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/02\/24\/sensex-nifty-extend-recent-declines-as-metal-stocks-drag\/","title":{"rendered":"Sensex, Nifty Extend Recent Declines As Metal Stocks Drag"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Indian shares fell for a sixth consecutive session on Friday, with mixed global cues and a rebound in oil prices keeping investors nervous. <\/p>\n<p>Oil prices extended gains for a second day, as expectations for lower Russian production offset signs of rising U.S. inventories.<\/p>\n<p>Moscow plans to cut exports by up to 25 percent from its western ports in March in a bid to boost prices, Reuters reported.<\/p>\n<p>Russia had already announced plans to cut its oil production by 500,000 barrels per day (bpd) in the month, amounting to 5 percent of its output or 0.5 percent of global production.<\/p>\n<p>Signs of fresh foreign fund outflows and lingering concerns about the ongoing sell-off in Adani Group stocks also dented investor sentiment, heading into the weekend.<\/p>\n<p>The benchmark S&amp;P\/BSE Sensex ended the session down 141.87 points, or 0.24 percent, at 59,463.93, giving up early gains. <\/p>\n<p>The broader NSE Nifty index fell 45.45 points, or 0.26 percent, to 17,465.80, dragged down by metal stocks. <\/p>\n<p>Adani Enterprises extended recent losses to close 5.1 percent lower while metal stocks such as Tata Steel, JSW Steel and Hindalco gave up 2-5 percent.<\/p>\n<p>Global cues were mixed as investors awaited the release of the U.S. personal consumption expenditures index, which is a key price gauge for the Fed, later in the day to assess the prospect for further interest-rate hikes from the U.S. central bank. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Sensex, Nifty Extend Recent Declines As Metal Stocks Drag<\/a><br \/>\n<br \/>2023-02-24 10:25:15<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian shares fell for a sixth consecutive session on Friday, with mixed global cues and a rebound in oil prices keeping investors nervous. Oil prices extended gains for a second&#8230;<\/p>\n","protected":false},"author":2,"featured_media":31564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1535139262971-c51845709a48?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=1950&q=80","fifu_image_alt":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-31563","post","type-post","status-publish","format-standard","has-post-thumbnail","category-asian-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/31563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=31563"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/31563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/31564"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=31563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=31563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=31563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}