Investors became poorer by Rs 4.83 trillion on Friday as equity markets went into a tailspin amid fears of a global recession. The benchmark S&P BSE Sensex crashed 1,021 points, or 1.73 per cent, to close at 58,099 today, while the Nifty50 broke below 17,350 levels to end at 17,327, down 302 points or 1.72 per cent. With this, the indices have yet again turned negative for the calendar year 2022.
During the day, the Sensex had tumbled over 1,100 points, and the Nifty50 had erased nearly 350 points as they hit their respective lows of 57,982, and 17,292.
In the broader markets, the BSE MidCap and SmallCap indices underperformed the frontline indices as they declined between 2 per cent and 2.3 per cent. Overall, there were three sellers for every one buyer on Dalal Street as over 2,472 stocks fell on the BSE as against 1,000 gainers.
Sectorally, the Nifty PSU Bank index plunged 4 per cent, while the Niftyy Bank, Private Bank, and Realty indices fell 2.6 per cent each.
The Nifty IT index fell just 0.7 per cent on the NSE today after analysts said Accenture’s Q4FY22 results showed better outsourcing revenue for larger Indian IT stocks.
Shares of Tata group were in spotlight on Friday after the multinational steel-major Tata Steel announced merging all its group metal companies with itself.
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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.
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The bulls continued to be in the driver’s seat on Friday as the benchmark indices scaled fresh all-time highs after the Reserve Bank of India (RBI) revised upwards the economic growth projections for the fiscal year 2020-21 (FY21) and assured ample liquidity for the stressed sectors.
The S&P BSE Sensex hit a new milestone today as the index breached the crucial 45,000 level for the first time ever to end at 45,080 levels, up 447 points, or 1 per cent. On similar lines, NSE’s Nifty ended at 13,259, up 125 points, or 0.95 per cent. Volatility index, India VIX, dropped over 5 per cent to 18 levels.
On a weekly basis, Nifty gained 2.2 per cent while Sensex added 2 per cent.
In the broader market, the S&P BSE MidCap index ended 0.44 per cent higher at 17,389 levels while the S&P BSE SmallCap index settled at 17,317, up 72 points, or 0.42 per cent.
On the NSE, all sectoral indices ended in the green with Nifty Bank surging the most – up 2 per cent or 604 points to 30,052 levels.
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Source: https://stockarchitect.com/sector/IT-Consulting-And-Software
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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