The key benchmark indices wilted under the selling pressure on Friday amid fears of higher interest rates globally. Banks and realty stocks bore brunt of the selling pressure, as the Sensex and Nifty snapped their three-day winning run.
The S&P BSE Sensex started the day with a negative gap of over 300 points at 60,994; the index did recoup losses but could only manage to touch a high of 61,303. A fresh round of selling in noon deals, saw the BSE benchmark slide to a low of 60,811 – down 509 points from the previous day’s close.
Some buying in late trades helped the Sensex trim losses and end at 61,003, down 317 points.
The Nifty 50 registered a low at 17,885, before settling 92 points lower at 17,944.
A vast majority of the Nifty 50 stocks ended in red today. Adani Enterprises was the top loser, down over 4 per cent. Nestle, IndusInd Bank, SBI Life, HDFC Life and Mahindra & Mahindra were the other major losers. On the other hand, Larsen & Toubro gained over 2 per cent. UltraTech Cement, BPCL, Hero MotoCorp and Asian Paints were the other major losers.
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Bears crawled on Dalal Street on Friday as wobbly global sentiment as Covid-19 scare in China triggered slowdown fears. With this, equity markets have settled lower for a fourth consecutive day.
The S&P BSE Sensex slumped 981 points or 1.6 per cent to end at 59,845, which is its lowest level since October 28. The index hit an intra-day low of 59,766 during the day dragged by Tata Steel, Tata Motors, SBI, Bajaj Finserv, Wipro, IndusInd Bank, Reliance, L&T, which shed 2-5 per cent.
The Nifty50, meanwhile, ended at 17,807, down 321 points or 1.8 per cent. The index sank to a low of 17,779 during the day.
The pain was even more severe in the broader market space where the BSE MidCap and SmallCap indices fell 3 and 4 per cent, respectively.
The broad-based selling was led by public sector banks with the Nifty PSU Bank index tumbling nearly 6 per cent. This was followed by the Nifty Metal index (down over 4 per cent), and the Nifty Realty index (down 3 per cent).
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Domestic benchmark indices remained listless on Friday as record high levels in indices triggered minor profit booking. The S&P BSE Sensex, which hit a new lifetime high of 62,448 earlier today, ended at 62,294, up 21 points or 0.03 per cent. The NSE Nifty50, meanwhile, ended at 18,513, up 29 points or 0.15 per cent. The index claimed new 52-week high of 18,535.
Reliance Industries, Wipro, IndusInd Bank, Axis Bank, Tech M, Tata Steel, Maruti Suzuki, and M&M were the top Sensex gainers, rising between 0.5 per cent and 1.2 per cent. HDFC Life, Tata Motors, Divis Labs, Hero MotoCorp, Coal India, Eocher Motors, and BPCL were the additional gainers on the Nifty50 index.
On the downside, Nestle India, ICICI Bank, Kotak Bank, Titan, HDFC Bank, HUL, and Bajaj Finance were the top laggards, down up to 1.4 per cent. Sectorally, the Nifty Realty index added 1.2 per cent, while the Nifty FMCG index fell 0.3 per cent.
In the broader market, the BSE MidCap and SmallCap indices rallied 0.77 per cent, and 0.67 per cent, respectively.
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The key benchmark indices bounced back with panache in opening trades this morning taking cues from the global peers. The S&P BSE benchmark index soared to a high of 58,435 in intra-day deals led by strong gains in IT major Infosys and the HDFC twins.
Infosys rallied over 5 per cent to a high of Rs 1,494 on the back of healthy Q2 performance and Rs 9,300 crore share buyback. Analysts expect the stock to log further gains in the coming trading sessions. READ MORE
The key indices, however, pared gains in the latter half of the trading sessions as the overall sentiment remained cautious in the backdrop of a high inflation scenario globally. The Sensex eventually ended 685 points higher at 57,920. Thanks to the Friday-rally, the BSE index was able to trim its weekly loss to 271 points.
The NSE Nifty 50 index rallied past the 17,300-level in early deals, but finally settled at 17,186 – up 171 points.
The broader indices erased the entire day’s gain towards the close. The BSE Midcap index was up 0.1 per cent, while the Smallcap index ended unmoved.
Sectorally, the BSE IT and Bankex surged 1.7 per cent each. The Capital Goods index was the other notable gainer. On the other hand, Oil & Gas and Power indices slipped over a per cent each.
The overall breadth was marginally positive, with 1,835 stocks advancing versus 1,608 declining shares on the BSE.
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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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Equity markets cracked, while bond yields on the 10-year government securities firmed up, in the second half of the trading session on Friday as growth concerns weighed on investor sentiment. The S&P BSE Sensex crashed 937 points from the day’s high and hit a low of 59,474 during the day. It, eventually, closed at 59,646, down 652 points or 1.08 per cent.
The NSE Nifty50, meanwhile, touched an intra-day low of 17,710 before settling 198 points, or 1.1 per cent, lower at 17,758.
The broad-based sell-off was led by financials including IndusInd Bank (down 4 per cent), Bajaj twins, SBI, ICICI Bank, Kotak Bank, and HDFC duo. That apart, Tata Steel, NTPC, HUL, Maruti Suzuki, RIL, and M&M were the other heavyweight losers. The only Sensex gainers were L&T, Infosys, and TCS.
Sectorally, the BSE Metal index shed 1.8 per cent, the BSE Bankex index 1.7 per cent, and the BSE PSU index 1.6 per cent
In the broader market, the BSE MidCap and SmallCap indices fell 1.27 per cent and 0.93 per cent respectively.
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Benchmark indices exhibited range-bound trade on Friday as lack of fresh triggers kept indices directionless. The S&P BSE Sensex remained within a narrow range of 348 points, while the Nifty50 travelled 118 points during the day.
By close, the 30-pack index settled at 54,482 levels, up 303 points or 0.56 per cent. The Nifty50, meanwhile, shut shop with gains of 88 points, or 0.54 per cent, at 16,221. In the broader market, the BSE MidCap and SmallCap indices added 0.2 per cent each.
L&T, PowerGrid, NTPC, ICICI Bank, DR Reddy’s Labs, Axis Bank, Bharti Airtel, and Nestle India were the top large-cap gainers, while M&M Financial Services, Oil India, SRF, Trent, Uttam Sugar, RateGain, and GR Infra surged in the broader market.
On the flipside, Tata Steel, IndusInd Bank, Maruti Suzuki, TCS, Crisil, Ashok Leyland, MFSL, RBL Bank, Ajmera Realty, PSP Projects, and Vakrangee were the top laggards across segments.
Among sectors, the Nifty Metal index was the sole loser, down 0.8 per cent. The Nifty Bank and FMCG indices, meanhile, were the outperformers, up 0.5 per cent each.
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A firm trading session witnessed an anti-climatic end with almost all the sectors giving up their gains. The Nifty Auto index was the worst hit as it shed around 1.8 per cent, while the Nifty Bank, Metal, PSU/Private Banks, and Realty indices fell up to 1 per cent each. The Nifty IT index was the only gainer, up 0.45 per cent.
Overall, the BSE Sensex index fell 664 points from the day’s high to close at 55,769, down 49 points or 0.09 per cent. The Nifty50, too, shut shop at 16,584, down 44 points or 0.26 per cent. It hit an intra-day high of 16,794.
In the broader markets, the BSE MidCap and SmallCap indices fell 1.45 per cent and 1.16 per cent, respectively.
Shares of Reliance Industries (RIL) gained 3 per cent to Rs 2,816.35 on the BSE in Friday’s intra-day trade, having rallied 7 per cent in the past two trading days amid heavy volumes. RIL has seen addition of Rs 1.25 trillion in its total market capitalisation of Rs 19.05 trillion during this period.
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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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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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