Equity market ended Friday’s highly volatile session on a subdued note even as the Reserve Bank of India (RBI), in an emergency move, slashed the repo rate by a huge 75 basis points (bps) to arrest the potential downturn in the economy due to coronavirus (Covid-19) pandemic. In addition, the RBI imposed a moratorium on principal and interest payments for three months and told banks and non-banking finance companies that that non-payment won’t be considered as non-performing assets (NPA).
The S&P BSE Sensex closed at 29,816, down 131 points or 0.44 per cent, with Axis Bank (up 5 per cent) being the top gainer and Bajaj Finance (down 9 per cent) the worst performer. Besides Bajaj Finance, stocks that contributed the most to the Sensex’s fall were Bharti Airtel (down 6 per cent), HUL (down 3 per cent), and HDFC Bank (down 1 per cent).
NSE’s frontline index Nifty50 ended at 8,660, up 19 points or 0.22 per cent.
On a weekly basis, Sensex slipped 0.33 per cent while Nifty fell 0.97 per cent.
On the sectoral front, auto stocks slipped the most, thus snapping their three-day gaining streak. The Nifty Auto index ended around 2.5 per cent lower at 4,939 levels. On the other hand, private banks gained the most with the Nifty Private Bank index ending 1.72 per cent higher at 10,738 levels.
Volatility index India VIX eased 0.77 per cent to 70.97 levels.
In the broader market, the S&P BSE MidCap index ended at 10,538, up 0.29 per cent while the S&P BSE SmallCap index ended 0.28 per cent higher at 9,497 levels.
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Some brisk buying in industry heavyweights such as Infosys, HDFC, ICICI Bank, Hindustan Unilever (HUL), and Bharti Airtel helped benchmark indices settle with decent gains on Friday. Additionally, positive global cues, too, boosted investor sentiment.
The S&P BSE Sensex added 247 points or 0.65 per cent to end at 38,127.08 levels, with Infosys (up 4 per cent) being the top gainer and YES Bank (down over 3 per cent) the biggest loser. During the session, the index hit a high and low of 38,345.41 and 37,737.85, respectively.
In the broader market, the S&P BSE MidCap index ended at 13,780.99 levels, up 33 points or 0.24 per cent and the S&P BSE SmallCap gained 49 points or 0.38 per cent to close at 12,772.07.
On the NSE, the headline index Nifty50 ended at 11,301.25 levels, up 67 points or 0.59 per cent.
Sectorally, barring media and private bank, all the indices on the NSE ended in the green. The Nifty Metal index ended at 2,335.20 levels, up 2.27 per cent.
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Benchmark indices slumped more than 1% on Friday, in line with Asian peers, as the global rout in equities returned, while lingering concerns over inflation back home weighed on the market.
Asian stocks tumbled to two-month lows after US shares plummeted again in the face of rapidly rising bond yields.
Global cues have weighed on Indian stock markets with major indexes on track for a second straight weekly fall after embarking on a record-hitting spree in January.
The S&P BSE Sensex ended at 34,005, down 407 points while the broader Nifty50 index settled at 10,454, down 121 points.
FDC, SpiceJet, Steel Authority of India (SAIL), Bharat Forge, Ipca Laboratories, Jet Airways and Bajaj Electricals are among 23 stocks from the S&P BSE500 index up over 10% during the current week in an otherwise weak market.
Bombay Dyeing & Manufacturing, HEG, Fortis Healthcare, Himachal Futuristic Communications (HFCL), Firstsource Solutions, Jamna Auto Industries, Greenply Industries and Shankara Building Products, too, were up more than 10%.
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In a highly volatile session, the domestic equity market ended on a positive note with BSE Sensex just 40 points shy of its record high level and Nifty50 closing near its all-time high.
Sensex closed 124 points or 0.39 per cent higher at 32,020.89 while Nifty50 closed the day at 9,915.25, up 42 points or 0.42 per cent.
The 30-share pack had opened at 32,035.88 and touched an intraday high and low of 32,062.23 and 31,808.93, respectively, as index heavyweights WiproBSE 6.47 % (up 6.54 per cent) and Reliance (up 3.75 per cent) hogged the limelight.
BSE Midcap index gained 6 points or 0.04 per cent to 15,185.53 as shares of Adani Power, Bajaj Holdings and Bajaj Finserv surged up to 7 per cent.
On the other hand, BSE Small Cap index shed 7 points or 0.05 per cent to end the day at 15,992.63 as shares of Gujarat NRE Coke (down 6.55 per cent), Nucleus (down 6.07 per cent) and Dish Tv (down 5.85 per cent) capped gains.
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