Sensex, Nifty Snap Two-Day Winning Streak Dragged By Metal & I.T. Stocks
India’s equity benchmarks closed lower, dragged by losses in metal, information technology, healthcare, auto and realty stocks, as surge in energy costs spurred inflation concerns.
The S&P BSE Sensex Index shed 0.93%, the steepest single-day decline since July 19, to 59,189.73. The NSE Nifty 50 Index logged the most single-day loss decline since September 20 to 17,646. Reliance Industries Ltd. contributed the most to the index decline, decreasing 1.9%. SBI Life Insurance Co. had the largest drop, falling 4.0%. Today, 41 of 50 shares fell, while 9 rose.
The broader indices almost mirrored their larger peers with the S&P BSE MidCap shedding 1.2% and S&P BSE SmallCap falling 0.5%. All the 19 sectoral indexes compiled by BSE Ltd. declined, with the S&P BSE Metal index falling nearly 3%.
The market breadth was skewed in favour of bears. About 1,440 stocks advanced, 1,848 declined and 158 remained unchanged.
"A number of macro indicators are close to technically critical levels – potential upside breakouts in Dollar index, Crude and Developed Market bond yields could get confirmed this week. The global backdrop is indeed a somewhat worrisome one with surging energy prices meeting slowing demand conditions, and a global supply chain crunch across basic materials", S Hariharan, Head - Sales Trading, Emkay Global Financial Services, wrote in a note, before adding "the valuation premium of mid & small caps over Nifty stocks are at levels similar to early 2018, implying that incremental money flow is likely to be directed towards large caps".
Rupee Weakens Towards 75/$
Cabinet approves Rs 1,985 crore bonus for Railway staff.
India approves Production-Linked Bonus for Railway employees.
Cabinet approves Rs 4,445 crore textiles park plan.
Zee Approaches NCLAT Against NCLT Order In Invesco Case
Zee has complained against limited time granted to it by NCLT for filing reply on Invesco’s petition
NCLT Mumbai yesterday asked Zee to file its reply by October 7.
NCLT proceedings should be stayed until NCLAT decides its appeal, Zee says.
PFRDA Nod For CAMS To Be Central Record Keeping Agency To Use Aadhaar eKYC Services For NPS
Computer Age Management Services Ltd. has been permitted as a Central Record Keeping Agency (CRA) to use Aadhaar-based eKYC services as Authentication User Agency, for National Pension Scheme (NPS) by Pension Fund Regulatory & Development authority, the company said in an exchange filing.
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Cyient Appoints Rajaneesh Kini As Senior Vice President & CTO
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Pharma Stocks Slip; NSE Nifty Pharma Index Down 0.8%
Information Technology Stocks Decline
MTAR Tech Advances On CRISIL’s Credit Rating Upgrade
All The Constituents Of NSE Nifty PSU Bank Index Advance
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Metal Stocks Decline; S&P BSE Metal Index Down Over 1%
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Bajaj Finance Advances On September Quarter Business Update
Coal India Gives In-Principle Nod To Pre-Feasibility Report To Set Up Greenfield Aluminium Project In Odisha
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Bosch Shares Rise The Most In Over Months, RSI Above 70
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Oil & Gas Stocks Advance, ONGC Shares Up Nearly 5%
Opening Bell: Sensex, Nifty Open Higher; ONGC Leads Advance
Rupee, Bonds May Extend Losses On Elevated Oil
Moody's Raises India Outlook To Stable
HDFC Bank Seeks Strategic Investor In NBFC Unit: Economic Times Report
Higher Oil Prices & Coal Shortages Risk Fanning Inflation & Impeding Economic Growth
UPL Asked To Pay For Public Forum On South Africa Pollution
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