Sensex, Nifty End Lower For Third Straight Week
Closing Bell: Sensex, Nifty Clock Worst Week In Over A Month
Indian equity benchmarks extended declines for the third straight week, clocking their worst week in over a month.
The S&P BSE Sensex closed 0.65 percent lower this week to end at 39,194.49 and the NSE Nifty 50 closed at 11,724.10, down 0.84 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.91 percent lower this week.
Today, the 31-stock index closed 407 points or 1.03 percent lower and the 50-share gauge closed 0.91 percent lower. The 500-share index ended 0.67 percent lower.
The declines in the benchmark indices were led by fall in HDFC, Reliance Industries and Kotak Mahindra Bank.
The market breadth, however, was tilted in favour of buyers. About 892 stocks advanced and 862 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Pharma Index’s 1.46 percent decline. On the flipside, the NSE Nifty PSU Bank Index was the only sectoral gainer, up 0.65 percent.
Stocks Moving On Heavy Volumes
- Stock fell as much as 10.9 percent to Rs 500.
- Trading volume was 40 times its 20-day average.
Shriram City Union Finance
- Stock rose as much as 2.4 percent to Rs 1,402.
- Trading volume was around 10 times its 20-day average.
- Stock fell as much as 8.6 percent to Rs 838.35.
- Trading volume was almost eight times its 20-day average.
- Stock rose as much as 30 percent to Rs 81.70.
- Trading volume was more then six times its 20-day average.
Fab Four Stocks Of The Day
Lakshmi Vilas Bank
- Stock hit an upper circuit of 10 percent.
- CCI approved the lender’s merger with Indiabulls Housing Finance.
- Stock rose 7.3 percent.
- The bankers are set to bankers meet today to resolve $1.4 billion debt, according to Bloomberg report.
- Stock halted seven-day losing streak and rose 6 percent
- Trading volume was three times its 20 day average
- Stock rose 4 percent.
- Fresh longs seen with high OI of 18.18 percent.
Market Check: Sensex, Nifty Set To Post Third Straight Weekly Loss
Indian equity benchmarks are set to post their third straight week of losses.
The S&P BSE Sensex has declined 0.65 percent so far this week and the NSE Nifty 50 fell 0.86 percent. Today, Sensex fell over 400 points as of 3 p.m. to 39,172 and the NSE Nifty 50 traded near 11,700, down 0.94 percent.
Current Market Correction A Good Sign For Nifty, Says SMC Global Securities
The markets are currently trading about 500 points away from their record, which is a healthy correction and that is a good sign for Nifty going forward, SMC Global Securities' Senior Equity Research Analyst Shitij Gandhi told BloombergQuint in an interaction.
Gandhi said that 11,600 is a crucial level in the downside to watch out for the Nifty moving forward.
Market Check: Sensex Drops Over 400 Points; Nifty Below 11,750
Indian equity benchmarks extended declines to trade at day’s low.
The S&P BSE Sensex fell over 400 points as of 2 p.m. and the NSE Nifty 50 fell as much as 0.89 percent to 11,726.20.
The market breadth was tilted in favour of sellers. About 892 shares declined and 832 advanced on National Stock Exchange.
The declined in the benchmark indices were led by HDFC Ltd. and Reliance Industries Ltd.