Indian benchmarks cracked in line with global peers, falling 1.3 per cent on Friday, as multi-decade high inflation in the US jolted investor confidence who feared bulkier rate hikes by the world’s biggest economy.
The S&P BSE Sensex plunged 773 points to end at 58,153 and the Nifty50 closed slumped 231 points to close at 17,375. With this, the indices halted their three-day winning streak, slipping 0.8 per cent for the week.
In the broader markets, the BSE MidCap and SmallCap indices shed about 2 per cent each, clocking weekly losses of up to 3.4 per cent.
Given the situation of rate hike in the US, all the sectoral indices settled in the negative territory today with technology and public sector banks being the worst hit. The IT and PSB indices dropped nearly 3 per cent and 2 per cent, respectively, while Bank, Financial Services, and Realty indices slipped upwards of 1 per cent on the NSE.
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Mixed global cues kept the domestic equities volatile throughout the day on Friday as investors digested key updates from both the Bank of England and the European Central Bank. Meanwhile, Brent crude inched closer to $93 per barrel-mark, and bond yields climbed in the US and in India, which added to the nervousness in the markets.
The S&P BSE Sensex index oscillated 517 points intra-day and eventually settled 143 points lower at 58,645. The Nifty50, on the other hand, ended at 17,516, down 44 points. Both the benchmarks were down 0.24 per cent today but were up 2.5 per cent for the week.
In the broader market, the BSE MidCap and SmallCap indices were down 0.7 per cent and 0.45 per cent, respectively.
Sectorally, the Nifty Realty index fell 2.8 per cent on the NSE, while the Nifty PSB index dipped 1.9 per cent. On the contrary, the Nifty Metal index rose 1.2 per cent.
BSE breadth was midly negative as 1,746 stocks ended in the red as against 1,595 stocks that ended in the green. MAS Financial Services (up 15.5 per cent), Spandana Sphoorty, HG Infra, and Torrent Power were among the top gainers today. EI Hotels, Greaves Cotton, Welspun India, and Radico Khaitan, on the flipside, were the top drags.
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Benchmark indices ended a week of extreme volatility marginally in the red note on Friday, following the US Federal Reserve’s monetary policy meeting.
The S&P BSE Sensex index had started gap-up and had extended its rally to hit a high of 58,084-mark, up 807 points intra-day. However, a sharp sell-off in the last hour of trade dragged the index in the negative zone, settling 77 points, or 0.13 per cent, lower at 57,200.
The Nifty50 shut shop at 17,102, down 8 points or 0.05 per cent. It was 271 points lower from its intra-day high of 17,373.
The indices’ breadth was slightly skewed towards buyers as 14 of the 30 constituents on the Sensex and 19 of the 50 constituents on the Nifty ended in the red. The losses were led by Maruti Suzuki, Tech M, Power Grid, Hero MotoCorp, ICICI Bank, Axis Bank, SBI, and Bajaj Finserv. All these stocks were down in the range of 1 to 3 per cent.
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Global headwinds weighed on Indian equities for fourth straight day on Friday as all sectors, barring selective FMCG counters, slid into the negative territory.
The S&P BSE Sensex ended the session with 427-points cut at 59,037 level with 10 index constituents ending the session in the green. The 30-pack index had briefly breached below the 59,000-mark intra-day and hit a low of 58,621.
On the NSE, the Nifty50 gave up the 17,650-mark to end at 17,617, down 140 points. The broader markets bled even more with both the mid and smallcap indices closing 2 per cent lower each on the BSE.
Overall, 2,329 stocks ended in the red on the BSE as against less than 1,048 stocks in the green. Fear gauge, India VIX, soared 6 per cent to end near 19-mark.
Sectorally, only the Nifty FMCG index ended in the green, up 0.36 per cent. The losses, on the oher hand, were led by the Nifty PSU Bank index, down 3 per cent. All other indices slipped between 0.5-2.4 per cent.
Bajaj Finserv, Tech M, Tata Steel, Bharti Airtel, IndusInd Bank, and Axis Bank were the top large-cap draggers while Zee Entertainment, Canara Bank, Concor, Info Edge, Sasken Technologies, Hindustan Oil Exploration, and Polycab India were the mid- and small-cap losers. All these stocks were down in the range of 2-11 per cent.
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Benchmark indices staged a smart-recovery during the second half of the trading session, led by healthy buying in metal and PSU bank stocks, to end the day around flat line on Friday. The markets, however, snapped their four-day winning run and ended lower amid weak global cues.
The BSE Sensex index opened gap-down and hit a low of 60,757 in early deals today. It staged a smart come-back and bounced 567 points intra-day to hit a high of 61,324.5. However, losses in private banks and select heavyweights such as HUL and Bharti Airtel held it from ending in the green zone. By close, the BSE 30-pack index stood at 61,223, down 12 points or 0.02 per cent.
Following a similar trajectory, the NSE Nifty hit a low of 18,120 in early deals but recouped losses to hit a high of 18,287. It, eventually, pared gains and ended 2 points down at 18,256 level.
TCS, Infosys, L&T, Tech M, and HDFC Bank were the top gainers on the Sensex today, while Tata Consumer Products, IOC, BPCL, and Adani Ports were the additional gainers on the Nifty. All these stocks gained between 1 and 4 per cent.
On the downside, Asian Paints, Axis Bank, UPL, HUL, ONGC, M&M, and Nestle India were the top laggards.
The broader market, however, outperformed the benchmarks and ended higher on Friday. The BSE MidCap index eked out 0.24 per cent gains while the BSe SmallCap advanced 0.5 per cent.
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Domestic indices ended marginally higher on Friday amid consolidatory mood and mixed global cues.
After starting gap-up, the BSE Sensex index marched ahead to hit a high of 60,130-mark intra-day. However, selling in select heavyweights like Bajaj twins, M&M, HDFC, Bharti Airtel, and L&T in the second half of the session erased gains. The index eventually ended at 59,745 level, up 143 points or 0.24 per cent.
Its NSE counterpart, Nifty50, meanwhile, closed at 17,813, up 67 points or 0.38 percent.
Grasim, ONGC, Hindalco, HDFC Life, Shree Cement, Tata Consumer Products, and Asian Paints were the top Nifty gainers today.
Among large-caps, shares of Titan Company ended 1 per cent lower today after hitting a record high of Rs 2,687 apiece on the BSE earlier today. “The company has witnessed a buoyancy in jewellery demand, driven by festive purchases in October and November which helped the division achieve a 37 per cent growth for the quarter, it said in an update for Q3FY22.
The broader markets, however, outperformed the benchmarks for a second straight day with the BSE MidCap and SmallCap indices ending around 0.5 per cent higher each.
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Key benchmark indices ended the record-breaking year 2021 on a high note. The Sensex and the Nifty displayed a firm trend throughout the day on the back of steady gains auto, financials, FMCG and index heavyweight Reliance Industries.
The Sensex touched a high of 58,409, and ended with a gain of 460 points at 58,254. In the process, the BSE benchmark was up 1,130 points for the week.
The 30-share index finished the calendar year with a solid gain of 22 per cent (10,503 points), after having touched a new life-time high of 62,245 on October 19, 2021.
The NSE Nifty settled 150 points higher at 17,354, and was up a whopping 24.1 per cent for 2021.
Among sectoral indices, BSE Metal and Consumer Durables indices were up over 2 per cent each. The Auto and Telecom indices gained 1.7 per cent each. The Bankex, FMCG, Oil & Gas and Realty indices also finished with gains in excess of a per cent each.
The overall breadth too was extremely positive, with 2,438 stocks advancing versus 944 declining stocks on the BSE on Friday.
Titan was the top gainer among the Sensex 30 stocks, it ended 3.5 per cent higher at Rs 2,522. UltraTech Cement and Kotak Bank were up around 2.5 per cent each. Maruti, Axis Bank, SBI, Bajaj Finserv, Hindustan Unilever, Bajaj Finance, HDFC Bank, Nestle and Sun Pharma were the other major gainers.
On the flip side, IT stocks kind-off under-performed in trades on Friday owing to selective profit-taking. Among others, NTPC slipped 2 per cent.
The broader markets outperformed the benchmark indices. The BSE Midcap and Smallcap indices were up 1.4 per cent and 1.2 per cent, respectively.
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The key benchmark indices snapped their 3-day winning run as traders preferred to book profits following the recent smart gains, given the unpredictable news flow around the Omicron threat.
The BSE benchmark index had touched a high of 57,624 in opening trades helped positive overseas cues, but soon dipped into red and dropped to a low of 56,813 – down 810 points from the day’s high. The BSE index, thereafter, did recoup losses in intraday deals but eventually ended 191 points lower at 57,124.
In the process, the BSE Sensex ended the week with a marginal gain of 84 points.
The NSE Nifty moved in a range of 246 points, from a high of 17,156, the index tested a low of low of 16,910 and finally finished with a loss of 69 points at 17,004.
HCL Technologies was the top gainer among the Sensex 30 stocks, it gained 3 per cent at 1,265 on the back of heavy volumes amid buzz that the promoters were suppose to buyback shares from the open market at a 5 per cent premium.
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stockarchitect
December 25, 2021
Stocks across the board, barring the IT sector, witnessed significant selling pressure in trades on Friday as unwinding of global stimulus packages dented sentiment. That apart, unforseen threat from the Omicron virus and high inflation kept bulls at bay all through the day.
The BSE Sensex tanked to a low of 56,951, and evenutally settled with a heavy loss of 889 points at 57,012. In the process, the BSE benchmar ended the week with a significant loss of 3 per cent (1,775 points).
The NSE Nifty slumped to a low of 16,966, and finally ended with a loss of 263 points at 16,985.
Index heavyweight Reliance Industries plunged 2.6 per cent to Rs 2,341, and alone accounted for a loss of 176 points on the BSE benchmark. That apart, the HDFC twins were the other major dragggers (223 points loss).
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