Sensex ends 549 points down at 49,035; HCL Tech declines 4%; Tata Motors up 7%


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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stockarchitect January 16, 2021

Anandnst / ankitparam / Dr. Reddys / flyingvikas129 / Infosys Ltd / ITC Ltd. / Prashanth_Krish / Siemens ltd / Sun Pharma / valuerupee /

Indices end at 6-month lows, Sensex tanks 894 points; YES Bank down 56%


Bears continued to be in the driver’s seat on Friday as markets witnessed another bout of across-the-board sell-off due to Coronavirus fears. Further, YES Bank crisis was another major factor that dragged the markets lower.

The S&P BSE Sensex tanked 894 points or 2.32 per cent to settle the day at 37,577. During the day, the index hit a low of 37,011 levels. Bajaj Auto emerged as the biggest gainer on the index while Tata Steel (down over 6.5 per cent) was the top loser.

On NSE, the broader Nifty50 index ended at 10,989, down 279.5 points or 2.48 per cent.

On a weekly basis, Sensex dropped 1.8 per cent while Nifty lost 1.89 per cent.

Among individual stocks, YES Bank cracked as much as 85 per cent during the day after RBI suspended the bank’s board and placed it under moratorium for 30 days and capped withdrawal limit to Rs 50,000 for the one-month period. The stock eventually settled at Rs 16, down 56 per cent.

State Bank of India (SBI) closed around 6.5 per cent lower at Rs 270, after it informed that its board has given in-principle approval to consider an “investment opportunity” in YES Bank. In a late night statement on Thursday, SBI, however, said no decision had yet been taken to pick up stake in the bank.

Besides, other banking stocks, too, tumbled in the trade. The Nifty Bank index ended at 27,781, down over 1,000 points or 3.6 per cent.

Volatility index India VIX rose around 12 per cent to 25.96 levels.

In the broader market, the S&P BSE MidCap index declined 343.5 points or over 2 per cent to 14,227 levels while the S&P BSE SmallCap index ended at 13,330, down 261.5 points or around 2 per cent.

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stockarchitect March 7, 2020

Bharti Airtel / Deishma / GAIL India / IndusInd Bank / ITC / krishnakhanna / Max Financial / Prashanth_Krish / sristockss / stocksbuzzcalls /