Bucking the global trend, domestic equity markets fell on Friday bogged down by profit booking in IT stocks, and heavyweights like Reliance Industries, L&T, and financials. The S&P BSE Sensex, which started about 100 points higher, erased gains and dropped over 700 points from the day’s high to hit a low of 61,889.
The index, eventually, closed at 62,182, down 389 points or 0.62 per cent. The Nifty50, meanwhile, breached below the 18,500-mark and ended at 18,497, down 113 points or 0.61 per cent. It hit a low of 18,410 during the day.
In the broader markets, the MidCap and SmallCap indices shed 0.45 per cent and 1 per cent, respectively.
Sectorally, defensive indices like the Nifty FMCG and Pharma held gains as they rose 0.8 per cent and 0.4 per cent. On the downside, the Nifty IT index crashed 3.16 per cent. Credit Suisse has warned of a 10 – 27 per cent valuation-led correction in tech-related stocks amid US macro headwinds.
The Nifty PSU Bank and Realty indices were other top laggards that tumbled 1.7 per cent and 1.5 per cent, respectively.
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Benchmark indices closed at fresh record closing highs in trade, led by gains in select index heavyweights, namely L&T, TCS and HDFC. Further, a positive global market sentiment also lent support to the indices.
BSE Sensex ended the day at 56,125, up 176 points or 0.31 per cent. It is for the first time that the index has settled above the 56,000 mark. Meanwhile, NSE Nifty after hitting a new record peak in intra-day session closed 68 points or 0.41 per cent higher at 16,705. It touched a new peak of 16,722.05 in trade earlier.
The broader markets, meanwhile, outperformed, rising for the fourth straight session. The BSE Midcap index added 1.04 per cent and BSE Smallcap rose 0.93 per cent.
The sectoral space was a sea of green as all indices gained on the NSE. Nifty Metal followed by Nifty Pharma were the top gainers, up over 1 per cent each while Nifty Auto gained the least among all indices.
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Indian Equities declined in-line with Asian peers on Friday as rapidly spreading Delta variant of Covid-19 in the region fanned fears of a stalled growth. That apart, Washington’s call to add at least 10 Chinese entities to its economic blacklist over alleged human rights abuses and high-tech surveillance in Xinjiang pulled benchmarks in Japan, South Korea, and China down by up to 1 per cent.
Back home, the S&P BSE Sensex dropped 183 points, or 0.35 per cent, to settle at 52,386 levels while NSE’s 50-share benchmark declined 38 points, or 0.24 per cent, to close at 15,690 levels. Heavyweights, TCS, HDFC Bank, Reliance Industries, Axis Bank, Kotak Bank, and HDFC were the top laggards along with Wipro, Bajaj Auto, and M&M.
The broader markets, on the flipside, settled about half a per cent higher. Sectorally, the Nifty Private Bank index was the biggest drag, down 0.6 per cent. On the upside, the Nifty Realty index zoomed 2.4 per cent.
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Domestic equity markets traded within a narrow range on Friday, fluctuating between gains and losses, as a slew of downgrades in the GDP growth forecasts for FY22 along with a slowdown in the vaccination programme amid supply crunch kept investors indecisive about the market direction.
India recorded over 343,000 fresh Covid-19 infections on Friday, taking the caseload tally to a little over 24 million. According to a government official, two billion doses of Covid-19 vaccines will be made available in the country between August and December, enough to vaccinate the entire population. This comes after Delhi, Maharashtra and Karnataka decided to suspend the vaccination for people in the 18-44 age group till further orders amid an acute shortage of vaccines.
However, favourable global cues helped the indices to limit losses. In Europe, the pan-European STOXX 600 index rose 0.3 per cent, with banks and retail stocks leading the gains, following a healthy session in Asia.
Against this backdrop, the BSE barometer of 30-shares culminated the session at 48,732.5 levels, adding 42 points or 0.09 per cent. During the choppy session, the index hit a high and low of 48,899 and 48,473, respectively.
On the NSE, the broader 50-share index defended the 14,650-mark to settle at 14,678 levels, down 19 points or 0.13 per cent.
Overall, 21 of the 30 shares on the Sensex and 34 of the 50 constituents of the Nifty ended the day in the red. Coal India, Hindalco, Tata Steel, Tata Motors, Grasim, and IndusInd Bank on the Nifty and M&M, SBI, ONGC, Dr Reddy’s Labs, and NTPC on the Sensex ended the day as top laggards.
On a weekly basis, both, the Sensex and the Nifty50 indices slipped around 1 per cent each.
On the upside, Asian Paints, UPL, ITC, Nestle India, L&T, HUL, Britannia, PowerGrid, and Reliance Industries were the combined top gainers of the day.
Profit-taking in the broader markets was sharper than benchmarks. The S&P BSE MidCap and SmallCap indices lost 1.2 per cent each.
Sectorally, the Nifty Metal index nursed the steepest loss of around 4 per cent, followed the Nifty Realty index, down 3 per cent and the Nifty PSU Bank and Auto indices, down 2 per cent each. On the upside, only Nifty FMCG index ended in the green, up 2 per cent.
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Fresh concerns over coronavirus lockdown in China and European countries weighed on market sentiment, dragging benchmarks 1 per cent lower on Friday. That apart, concerns around the implementation of US President-elect Joe Biden’s proposed package tempered global recovery hopes.
The benchmark S&P BSE Sensex breached below the 49,000-mark during the intra-day trade, and hit a low of 48,795 on the BSE, plunging around 860 points from day’s high. The Nifty50, on the other hand, skid 260 points from day’s high to hit a low of 14,358. Volatility gauge, India VIX, jumped over 4 per cent today to close at 24 levels.
Sensex ended in the sea of red with 26 of the 30 constituents ending the day in the red. Tech Mahindra (down 4 per cent) was the top loser on the index, followed by losses in ONGC, HCL Tech, Asian Paints, Ultratech Cement, HUL, and NTPC, down between 2 per cent and 3.7 per cent. The index closed at 49,035 levels, down 549.5 points or 1.11 per cent.
Weightage-wise, HDFC, Reliance Industries, Infosys, ICICI Bank, and HUL dragged the index by 300 points.
On NSE, the Nifty50 index slipped below the 14,500-mark and settled at 14,433 levels, down 162 points or 1.11 per cent lower.
In the broader market, the S&P BSE MidCap and SmallCap indices settled with a cut of 1.25 per cent and 1.06 per cent, respectively.
All the sectoral indices on the NSE closed with a red tick. Nifty IT and Nifty PSU Bank index ended with 2 per cent cuts while Nifty Financial Services, FMCG, Metals, and Private bank were down 1 per cent. Nifty Bank index skid 273 points, or 0.8 per cent, and ended at 32,247.
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Subdued global sentiment weighed on domestic equity markets on Friday as investors booked profits across the board, barring information technology (IT) sector. However, last hour buying in select pharma and bank stocks helped indices to settle the day in the green.
The benchmark S&P BSE Sensex settled the day at 46,961 levels, up 70 points or 0.15 per cent. The index hit a record high of 47,026 in the opening deals but erased gains on sell-off in large private banks, metals and realty stocks.
At close, Bajaj Finance, Infosys, State Bank of India (SBI), and Titan (up between 1.4 per cent and 2.4 per cent) were the top gainers while IndusInd Bank, HDFC Bank, ONGC, and Maruti Suzuki ended the day as top laggards.
The Nifty50 index, on the other hand, ended at 13,760.5 levels, up 20 points or 0.14 per cent.
The broader markets ended in the red for the second straight day. The S&P BSE MidCap index closed at 63 points, or 0.35 per cent, lower at 17,801 level. The S&P BSE SmallCap index, too, dipped 42 points, or 0.2 per cent, at 17,769 levels.
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Erasing all their morning gains, the benchmark indices ended in the negative territory on Friday due to selling in the financial counters.
The S&P BSE Sensex ended 134 points, or 0.34 per cent lower at 38,846 with HDFC Bank (down over 2 per cent) being the biggest loser and Bharti Airtel (up around 4 per cent) the top gainer. HDFC Bank, HDFC, Infosys, and Hindustan Unilever (HUL) were among the major contributors to the index’s loss.
NSE’s Nifty settled at 11,505, up 11 points, or 0.10 per cent. India VIX fell nearly a per cent to 19.93 levels.
Meanwhile, pharma stocks gained big in the trade. The Nifty Pharma index jumped 5 per cent to 12,321 levels with all the 10 constituents advancing. Dr Reddy’s hit a record high of Rs 5,496.95 during the trade after the company said it has settled its patent litigation with Celgene for the latter’s cancer drug capsules. The stock settled at Rs 5,306, up 10 per cent on the NSE.
Nifty Bank index fell 2%; RBL, Bandhan, HDFC Bank down over 3%. Bandhan Bank, RBL Bank, HDFC Bank, and IDFC First Bank were down 3 per cent, while Federal Bank, State Bank of India (SBI), Punjab National Bank, and IndusInd Bank from the index were down in the range of 1 per cent to 2 per cent on the National Stock Exchange (NSE).
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The domestic equity market ended in the negative territory on Friday after the Reserve Bank of India (RBI) decided to cut the policy rate by 40 basis points from 4.4 per cent to 4 per cent to trim the impact of coronavirus on the economy. That apart, the central bank also extended the moratorium on loan repayments by three more months, resulting in sell-off in financial stocks.
Nifty Bank today tumbled nearly over 2.5 per cent to 17,279 levels while Nifty Private Bank declined around 3 per cent to 9,421.55 points, with 8 out of 10 constituents ending in the red.
The benchmark S&P BSE Sensex shed 260 points or 0.84 per cent to settle at 30,672.59. HDFC, HDFC Bank, ICICI Bank, and Axis Bank contributed the most to the Sensex’s fall. On the other hand, IT majors, Infosys and TCS, supported the index.
NSE’s Nifty ended at 9,039, down 67 points or 0.74 per cent.
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Continuing their downward trend, the benchmark indices settled with over 2 per cent loss on Friday as coronavirus (Covid-19) cases showed no signs of abating. Global confirmed cases surpassed 1 million on Thursday with more than 52,000 deaths. Back home, an ongoing 21- day lockdown has already brought the economy to a standstill.
The S&P BSE Sensex ended at 27,591, down 674 points or 2.39 per cent amid heavy selling in financial stocks such as ICICI Bank (down 7.5 per cent), HDFC (over 5 per cent), HDFC Bank (down 2 per cent), and Axis Bank (down over 9 per cent). The other major contributors to the index’s loss were Infosys, TCS, and Asian Paints. They all fell in the range of 3-5 per cent.
India VIX cooled-off over 8 per cent to 55.01 levels. On the other hand, the Nifty50 index ended at 8,084, down 170 points or over 2 per cent. In the broader market, the S&P BSE MidCap index declined over 1 per cent lower at 10,219 whereas the S&P BSE SmallCap closed at 9,409, down over 1 per cent.
Among sectors, pharma stocks continued to rally. The Nifty Pharma index rose around 5 per cent to 7,362 levels with 8 out of 10 constituents advancing. Nifty FMCG index, too, ended in the green, up 0.7 per cent at 26,538 levels.
On a weekly basis, the S&P BSE Sensex lost 7.46 per cent, while the Nifty50 slipped 6.65 per cent.
Meanwhile, the Reserve Bank of India (RBI) has cut timing for money market operations from 9am to 5pm to 10am till 2pm. Truncated hours will be in operational till April 14.
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Equity market witnessed one of the steepest falls in the recent years on Friday as the fears of coronavirus turning into a pandemic triggered all-round sell-off at the bourses. Hopes that the epidemic that started in China would be over in a few months and economic activity would return to normal have been shattered, as new infections reported around the world now surpass those in China.
As a result, the S&P BSE Sensex nosedived 1,448 points or 3.64 per cent to end the session at 38,297. All 30 constituents ended in the red. Tech Mahindra (down around 9 per cent) took the biggest knock on the index. Other major contributors to the index were Reliance Industries (RIL), Infosys, HDFC, ICICI Bank, and TCS.
On the NSE, the 50-share index Nifty plunged 432 points or 3.7 per cent to end at 11,202.
Volatility index India VIX zoomed 29 per cent to 22.87 levels.
Sector wise, all the indices on the NSE ended deep in the red. Nifty IT index dropped over 5 per cent to 15,274 levels while Nifty Metal index cracked over 7 per cent to 2,233 levels.
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