Sensex’s Longest Weekly Run Since 2009 Ends; Banks, Metals Drag

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..Real Estate Rescue Fund Manager Says First Two Projects To Be Ready By April.Central Government approves five applications for Production Linked Incentive plans in drug productionApproves three applications by Aurobindo Pharma for PLI planShares of Aurobindo Pharma surge over 4% after government approves three applications for PLI scheme..Benchmark indices at day's low; set to erase gains for the weekNifty down 1.4% at 14,393Sensex down 1.3% at 48,964Nifty Bank down 3% at 31,233Nifty Midcap index down 1.3%Nifty Smallcap index down 0.8%India Volatility Index up 3.1% to 22.9Nifty Metal remains the top sectoral laggard; down 4.2%PSU Bank and Realty index fall over 2.5% eachNifty Pharma and Nifty Media down over 1.6% eachNifty Auto index off the day's high but remains 1.9% higherBajaj Auto remains the top Nifty gainer; up 10.2%Three out of the top five Nifty gainers are auto stocksAxis Bank is the top Nifty laggard; down 4.7%38 out of the 50 index constituents decline1,452 stocks on the NSE trade with losses while 422 stocks gain.Templeton’s India Closures Leave a Bad Taste.Top gainer on the Nifty Smallcap indexGains as much as 15.2% to Rs 584.8Biggest single-day gain in two monthsTrading at the highest since June 2019Up for the fourth straight dayHas gained 20% in the last four sessionsToady's volumes are 17 times its 20-day averageRelative Strength Index (RSI) of the stock at 6718 out of the 24 analysts tracking the stock have a buy recommendation; 2 sell callsReturn potential as per Bloomberg consensus data is 6.9%.L&T Technology Services Foresees A Q4 ‘As Good Or Better Than Q3’.SBI Cards Shares Jump To A Record High As Asset Quality Improves In Q3.Benchmark indices bounce from the day's lowNifty up 60 points from the day's low; down 0.5% at 14,520Sensex up over 200 points from the day's low; down 0.5% at 49,362Nifty Bank down 1.6% at 31,677Nifty Midcap index down 0.5%Nifty Smallcap index unchangedIndia Volatility Index down 0.4% to 22.1Nifty 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% eachBajaj 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.JK Tyre’s Shares Rise To Two-Year High As Q3 Results Beat Estimates.Bajaj Auto Stock Hits A Record High As Analysts Laud Q3 Results.Why Biocon’s Stock Tumbled Most In 10 Months.Benchmark indices fluctuate between gains and lossesNifty down 16 points at 14,574Sensex down 105 points at 49,518Nifty Bank down 1% at 31,872Nifty Midcap index up 0.3%Nifty Smallcap index up 0.6%India Volatility Index down 1.6% to 21.8Nifty Auto is the top sectoral gainer; up 3.3%Nifty Pharma index declines 0.6% while Metal and Realty index falls 0.4% eachBajaj 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.RIL Q3 Results Preview: Higher Petchem Demand, Retail To Cushion Earnings.Analysts Raise Targets On Asian Paints After Q3 But Stay Cautious Over Margin.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%..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.

Sensex’s Longest Weekly Run Since 2009 Ends; Banks, Metals Drag

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