Sensex, Nifty Decline For Seventh Straight Week
The National Stock Exchange building in Bandra-Kurla Complex in Mumbai, India. (Photographer: Vishal Patel/ BloombergQuint)

Sensex, Nifty Decline For Seventh Straight Week

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Markets This Truncated Week

  • Benchmark indices decline for seventh week in a row
  • Nifty ends 6.7 percent lower at 8,083
  • Sensex ends 7.5 percent lower at 27,590
  • Nifty Bank declines 13.6 percent to 17,249; down for sixth straight week - longest since July 2008. All constituents end with losses for the week.
  • Nifty Midcap Index down 3.8 percent, down for the sixth straight week
  • Nifty Smallcap Index down 2.3 percent, down for sixth straight week - longest since February 2013
  • Nifty Auto Index down 8.5 percent; down for 11th straight week - the longest ever losing streak.
  • Nifty FMCG (Up 3.1 percent) and Nifty Pharma (Up 8 percent) post weekly gains
  • India Volatility Index down 21 percent this week to 55.3, snaps a six-week gaining streak.
  • Top Nifty performer this week: GAIL (Up 16.4 percent)
  • Top Nifty Laggards this week: IndusInd Bank (Down 24 percent) and Kotak Mahindra Bank (Down 18.5 percent)

What Dragged The Nifty Lower

Closing Bell: Yet Another Weekly Drop

Indian equity markets ended the truncated week on a negative note, with no positive cues emerging from Europe or U.S. Futures.

Both the S&P BSE Sensex and the NSE Nifty 50 index reported their seventh consecutive weekly decline. This is the longest weekly decline since July 2008.

After trading for majority of the session in a range, both benchmark indices ended near the lowest point of the day.

The Sensex fell 2.1 percent to end at 27,674 while the Nifty ended at 8,083, down 2.1 percent. For the week, the benchmarks fell 7.4 and 6.7 percent respectively.

All sectoral indices barring Nifty FMCG (Up 0.5 percent) and Nifty Pharma (Up 4.9 percent) ended the day with losses.

Market breadth fluctuated between gainers and losers, but ended in favour of the advances. 961 stocks ended with gains while 816 posted losses for the day.

Sectoral Update: Nifty Metals Index

  • Down for three out of the four trading sessions this week
  • Headed for eighth straight weekly decline
  • Longest weekly fall since February 2019
 Sensex, Nifty Decline For Seventh Straight Week

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F&O Snapshot: Active Options Contracts

  • Nifty April futures add 11.2 percent in open interest and 10.8 lakh shares
  • Nifty Bank April futures add 24 percent in open interest and 2.1 lakh shares

Nifty: April 9 Expiry

  • 8,500 Call: Premium falls 64.3 percent to Rs 46.4. The contract has added 7 lakh shares in open interest.
  • 8,200 Call: Premium falls 54.6 percent to Rs 125. The contract has added 6.2 lakh shares in open interest.
  • 8,000 Put: Premium up 11 percent to Rs 188.7. The contract has added 5.7 lakh shares in open interest.

Nifty Bank: April 9 Expiry

  • 19,000 Call: Premium falls 82.5 percent to Rs 55.6. The contract has added 3 lakh shares in open interest.
  • 18,000 Call: Premium falls 75 percent to Rs 198.6. The contract has added 2.22 lakh shares in open interest.
  • 17,000 Put: Premium rises 29.2 percent to Rs 473.2. The contract has added 1.5 lakh shares in open interest.
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