Sensex falls 992 points from day’s high, ends 137 points down; SBI sheds 5%
Fag-end selling engulfed the markets on Friday as investors booked profit in banks and metal stocks. With this, the markets ended lower for the sixth straight day despite upbeat global mood.
The S&P BSE Sensex slumped 992 points from the day’s high to end at 52,794, down 137 points or 0.26 per cent. SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender’s Q4 missed Street’s estimates.
NTPC, ICICI Bank, Axis Bank, Maruti Suzuki, Airtel, HDFC twins, and Bajaj twins were the other draggers.
On the NSE, the Nifty50 shut shop at 15,782, down 26 points or 0.16 per cent, after hitting an intra-day high of 16,084. Meanwhile, in the broader market, the BSE SmallCap index added over 1.3 per cent and the BSE MidCap index gained 0.6 per cent.
Sectorally, the Nifty Metal index fell 2 per cent, followed by the Nifty Bank index (down over 1 per cent). On the upside, the Nifty Auto index gained 2.5 per cent led by Tata Motors. Shares of the Tata Group company settled over 8 per cent higher as investors cheered the company’s long-term growth prospects.
Primary market update (as of 3:30 PM)
Delhivery IPO: Issue subscribed 1.5 times so far on final day with QIB portion at 2.6x; NII at 5 per cent; retail at 54 per cent; and employees at 25 per cent.
Venus Pipes and Tubes: Issue subscribed 14.4 times so far with retail portion at 17.7 times; NIi at 14 times; and QIB at 8.8 times.
Shares of Poonawall Fincorp (formerly known as Magma Fincorp) surged 20 per cent to Rs 259.80 on the BSE in Friday’s trade after the company reported consolidated profit after tax (PAT) of Rs 119 crore, on the back of strong operational performance in March quarter (Q4FY22).
Shares of Greaves Cotton zoomed 11% as company’s E-Mobility biz turned profitable in Q4. However, despite today’s rally, the stock has underperformed the market by declining 28 per cent in the past one month as against an 8 per cent fall in the Sensex.
Shares of HDFC AMC hit a new 52-week low on MSCI exclusion and the stock is down 18% in a month. From India, MSCI has added 4 stocks – Adani Power, AU Small Finance Bank, Jindal Steel & Power and Tata Elxsi, whereas, deleted HDFC AMC.
Shares of Matrimony.com surged 14% as the board approved a share buyback via tender offer. The board has recommended a buyback of equity shares not exceeding Rs 75 crore at an indicative maximum buyback price not exceeding Rs 1,150 per equity share.
Here are some picks from the week gone by.
