INSUBCONTINENT EXCLUSIVE:
The overall market breadth stood weak as 1,037 shares advanced while 2,339 declined on BSE.New Delhi:
The Indian
equity benchmarks on Friday extended fall to the fourth straight session due to selling pressure in banking, consumer durables and metal
The 30-share BSE Sensex slumped 427 points or 0.72 per cent to close at 59,037, while the broader NSE Nifty settled 140 points or 0.79 per
During the day, the 30-share BSE index hit an intraday low of 58,621; and Nifty touched a low of 17,486 before limiting some of the losses
Sensex has plunged more than 2,200 points in the last four trading sessions
Both the indexes have tumbled more than 3 per cent, respectively, this week
Investors have lost Rs 9.73 lakh crore in wealth in a four-day sharp plunge on Dalal Street, with the market capitalisation
(m-cap) of BSE-listed companies falling to Rs 270 lakh crore from Monday's Rs 280 lakh crore mark."FIIs (Foreign Institutional Investors)
turned out to be a net seller in the January month till date in India
Inflationary pressure, monetary policy tightening, rising bond yields, higher crude oil prices are some key challenges for the global
In addition to global factors, the domestic markets would track the third quarter (Q3FY22) results, management commentary and Union Budget
2022-23," Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said.Expectations that the United States Federal Reserve
will move more quickly to hike interest rates to combat inflation hit the global indices hard
The sell-off hit bonds as well, pushing United States Treasury yields to two-year highs
Higher yields and interest rate hikes tend to make risky assets like emerging market equities less attractive, leading to outflows of funds
from the region.Back home, mid- and small-cap shares finished lower as Nifty Midcap 100 index fell 2.39 per cent and Nifty Smallcap 100
index fell 2.28 per cent.14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in red
Nifty PSU Bank and Nifty Consumer Durables Pharma underperformed the index by diving 3.05 per cent and 2.96 per cent, respectively
Nifty FMCG (Fast-moving consumer goods) managed to finish 0.36 per cent higher.On the stock-specific front, Bajaj Finserv was the top Nifty
loser as the stock cracked 5.09 per cent to Rs 16,379.95
Tech Mahindra, Coal India, Shree Cement and Divi's Lab were also among the laggards.In contrast, Bajaj Auto, Hindustan Unilever, Maruti
Suzuki India, HDFC Bank and Hero MotoCorp were among the gainers.The overall market breadth stood weak as 1,037 shares advanced while 2,339
declined on BSE.On the 30-share BSE platform, Bajaj Finserv, TechM, Tata Steel, Bharti Airtel, IndusInd Bank, L-T, Infosys and Bajaj Finance
attracted the most losses with their shares sliding as much as 5.37 per cent.HUL, Maruti, HDFC twins (HDFC and HDFC Bank), Nestle, Kotak
Mahindra Bank, and TCS were among the gainers on BSE.
