Current Market Update
How Did The Indices Fare This Week
Closing Bell
Indian equities ended lower for the second straight day, correcting further after reversing from a record high on Thursday.
The S&P BSE Sensex ended 1.5% lower at 48,878 while the NSE Nifty 50 index too fell by a similar quantum to end at 14,371.
This was the biggest single-day drop for the benchmarks in a month. This is also the third instance in the last one week when the Nifty has declined by 1% or more.
Friday's correction marked the end of an 11-week gaining streak for the Sensex, which was the longest since 2009.
Among the sectoral indices, the Nifty Bank fell over 1,000 points in today's session, falling to the lowest in nearly a month. The PSU Bank index too declined over 3% in today's session.
The Nifty Metal index was the top sectoral laggard in today's session, ending 3.9% lower. The Nifty Realty index declined 2.8%.
The Nifty Auto index bucked the trend courtesy gains in two-wheeler majors Bajaj Auto and Hero MotoCorp. The index ended 1.4% higher.
Broader markets declined, but the quantum was lesser as compared to the benchmarks. The Nifty Midcap index fell 1.2% while the smallcap index declined 0.6% at the end of trade.
India Volatility Index ended 1.1% higher at 22.42.
1,391 stocks on the NSE ended with losses while 514 managed to buck the trend.
In Focus: Real Estate Rescue Fund
All But One Stock On PSU Bank Index Decline
In Focus: Aurobindo Pharma
- Central Government approves five applications for Production Linked Incentive plans in drug production
- Approves three applications by Aurobindo Pharma for PLI plan
- Shares of Aurobindo Pharma surge over 4% after government approves three applications for PLI scheme.
Markets At 2:10 P.M.
- Benchmark indices at day's low; set to erase gains for the week
- Nifty down 1.4% at 14,393
- Sensex down 1.3% at 48,964
- Nifty Bank down 3% at 31,233
- Nifty Midcap index down 1.3%
- Nifty Smallcap index down 0.8%
- India Volatility Index up 3.1% to 22.9
- Nifty Metal remains the top sectoral laggard; down 4.2%
- PSU Bank and Realty index fall over 2.5% each
- Nifty Pharma and Nifty Media down over 1.6% each
- Nifty Auto index off the day's high but remains 1.9% higher
- Bajaj Auto remains the top Nifty gainer; up 10.2%
- Three out of the top five Nifty gainers are auto stocks
- Axis Bank is the top Nifty laggard; down 4.7%
- 38 out of the 50 index constituents decline
- 1,452 stocks on the NSE trade with losses while 422 stocks gain
Bucking The Trend: Nifty Auto
Templeton India's Closure
Also Read: Templeton’s India Closures Leave a Bad Taste
Buzzing Stock: Cyient
- Top gainer on the Nifty Smallcap index
- Gains as much as 15.2% to Rs 584.8
- Biggest single-day gain in two months
- Trading at the highest since June 2019
- Up for the fourth straight day
- Has gained 20% in the last four sessions
- Toady's volumes are 17 times its 20-day average
- Relative Strength Index (RSI) of the stock at 67
- 18 out of the 24 analysts tracking the stock have a buy recommendation; 2 sell calls
- Return potential as per Bloomberg consensus data is 6.9%
Metal Index Is The Top Laggard
In Focus: L&T Technology Services
In Focus: SBI Cards
Markets At Noon
- Benchmark indices bounce from the day's low
- Nifty up 60 points from the day's low; down 0.5% at 14,520
- Sensex up over 200 points from the day's low; down 0.5% at 49,362
- Nifty Bank down 1.6% at 31,677
- Nifty Midcap index down 0.5%
- Nifty Smallcap index unchanged
- India Volatility Index down 0.4% to 22.1
- Nifty Auto remains the top sectoral gainer; up 3.2%
- Nifty Metal is the top sectoral laggard; down 2.2%
- Realty and PSU Bank indices decline 1% each
- Bajaj Auto remains the top Nifty gainer; up 10%
- Axis Bank remains the top Nifty laggard; down 3.1%
- 611 stocks on the NSE trade with gains while 1,211 decline
Nifty Bank Leads Losses
In Focus: JK Tyre
Bajaj Auto At Record High
In Focus: Biocon
Also Read: Why Biocon’s Stock Tumbled Most In 10 Months
Markets At 10:10 A.M.
- Benchmark indices fluctuate between gains and losses
- Nifty down 16 points at 14,574
- Sensex down 105 points at 49,518
- Nifty Bank down 1% at 31,872
- Nifty Midcap index up 0.3%
- Nifty Smallcap index up 0.6%
- India Volatility Index down 1.6% to 21.8
- Nifty Auto is the top sectoral gainer; up 3.3%
- Nifty Pharma index declines 0.6% while Metal and Realty index falls 0.4% each
- Bajaj Auto is the top Nifty gainer; up 7.1%
- Axis Bank is the top Nifty laggard; down 2.2%
- 916 stocks on the NSE trade with gains while 820 decline
In Focus: RIL Q3 Preview
In Focus: Asian Paints
Opening Bell
Indian equities have opened flat on the final trading day of the week, courtesy weakness in the Dow futures and mixed sentiments across the Asia-Pacific.
The S&P BSE Sensex opened 30 points lower at 49,594 while the NSE Nifty 50 index opened 7 points lower at 14,583.
As of closing on Thursday, both Sensex and Nifty were up 1% for the week, despite snapping a two-day gaining streak on the weekly options expiry.
Among sectoral indices, the Nifty I.T. index has opened 0.5% lower while the Nifty Bank index is down 100 points or 0.3%.
The Auto index has opened 0.4% higher while the Metal index is up 0.3%.
Broader markets have opened with a positive bias in today's session. The Nifty Midcap index is up 0.4% while the Smallcap index has opened with gains of 0.2%.
12th Week Of Gains For Sensex?
Good Morning!
The initial euphoria of the S&P BSE Sensex scaling 50,000 was offset by the volatility due to the weekly options expiry. The gauge not only failed to hold the mark, but also fell 400 points by the close of trade.
Futures are indicating another lower opening for Indian equities on Friday. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 14,583 as of 8:00 a.m.
Biocon, JK Tyre, Aavas Financiers, SBI Cards, among others, may react to their quarterly earnings reported after market hours on Thursday. Four Nifty 50 companies -- Reliance Industries, JSW Steel, SBI Life Insurance and HDFC Life Insurance -- will report results today.
Among broader market stocks, Crompton Consumer, Gland Pharma, Symphony, Yes Bank, among others, will announce numbers.
Asian equities have dipped from their all-time high on the final trading day of the week. Markets in Japan and Hong Kong saw modest losses, while those in South Korea rose.
Futures on the Dow Jones are currently trading 100 points lower. The index ended flat on Thursday.
West Texas Intermediate crude fell 1% to $52.67 per barrel, while gold fell 0.2% to $1,865.8/Oz.
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