Sensex ends 1,491 pts lower, Nifty cracks below 15,900; investors lose Rs 5.43 lakh cr
Sensex sinks for 4th day amid jittery global markets, ends 1,491 pts lower; Nifty below 15,900
Synopsis
Among the bluechip names, ONGC was the biggest gainer, rising 13.16 per cent. Hindalco Industries, Coal India, Bharti Airtel, UPL, HCL Tech, Tata Steel and Infosys were other major gainers. IndusInd Bank was the top loser in the Nifty pack, falling 8.14 per cent.
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NEW DELHI: There was no respite for bulls on Dalal Street as domestic benchmark indices joined their global counterparts and sank for the fourth straight session on Monday as crude prices surged further.
This has spooked investors across the world. The 30-share pack Sensex declined 1,491.06 points or 2.74 per cent to close at 52,842.75. Its broader peer NSE Nifty slumped 382.20 points or 2.35 per cent to 15,863.15. Equity investors’ wealth, reflected in the total market cap of BSE-listed firms, fell by Rs 5.43 lakh crore as the market cap stood at Rs 241.35 lakh crore.
“The uncertainty continues due to the current crisis between Russia and Ukraine along with increasing crude oil rates. Investors are advised to retain liquidity and avoid taking new positions in the market till things are clear,” said Rahul Sharma, Equity 99.
Market at a glance:
Among the bluechip names, ONGC was the biggest gainer, rising 13.16 per cent. Hindalco Industries, Coal India, Bharti Airtel, UPL, HCL Tech, Tata Steel and Infosys were other major gainers. IndusInd Bank was the top loser in the Nifty pack, falling 8.14 per cent.
Broader market indices ended lower, trading in line with their headline peers. Nifty Smallcap fell 2.04 per cent, and Nifty Midcap dipped 2.37 per cent. Nifty 500, the broadest index on NSE, ended down 2.37 per cent.
PNB Housing Finance, Balrampur Chini Mills, Cyient, Zee Entertainment, Balkrishna Industries and National Aluminium were top gainers from mid and smallcap indices, rising in the range of 3-7 per cent. Jubilant Ingravia, KEC International, Indiabulls Housing Finance, Indiamart Intermesh, Vodafone Idea and Oberoi Realty were major losers from broader market space, declining 6-8 per cent.
Barring Nifty Metal that rose 2.10 per cent, all sectoral indices on NSE ended in the red. Nifty Realty was the top loser, down 5.47 per cent. Nifty Bank, Nifty Auto and Nifty Financial Services were other losers.
Meanwhile, 161 names hit 52-week lows, mostly from the microcap space. About 268 stocks hit upper circuit limits and 459 lower circuit limits. European markets were trading lower. London-based FTSE fell 1.38 per cent while Paris and Frankfurt declined 2.73 per cent and 3.13 per cent, respectively. In Asia, all markets ended in the red.
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The ongoing war in Europe and tough sanctions on Russia has put heavy pressure on supply-demand dynamics of most commodities, and in response, they are quoting at record high levels.This has spooked investors across the world. The 30-share pack Sensex declined 1,491.06 points or 2.74 per cent to close at 52,842.75. Its broader peer NSE Nifty slumped 382.20 points or 2.35 per cent to 15,863.15. Equity investors’ wealth, reflected in the total market cap of BSE-listed firms, fell by Rs 5.43 lakh crore as the market cap stood at Rs 241.35 lakh crore.
“The uncertainty continues due to the current crisis between Russia and Ukraine along with increasing crude oil rates. Investors are advised to retain liquidity and avoid taking new positions in the market till things are clear,” said Rahul Sharma, Equity 99.
Market at a glance:
- PNB Housing Fin jumped 6% as firm announced capital raising plans
- IndiGo, SpiceJet tanked up to 7% on ATF prices surge
- Paint stocks tumbled as rising crude prices would squeeze their margins
- Paytm hits new low, market cap slides below Rs 50,000 cr
- India VIX, barometer of future volatility, rises 5%
Among the bluechip names, ONGC was the biggest gainer, rising 13.16 per cent. Hindalco Industries, Coal India, Bharti Airtel, UPL, HCL Tech, Tata Steel and Infosys were other major gainers. IndusInd Bank was the top loser in the Nifty pack, falling 8.14 per cent.
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Broader market indices ended lower, trading in line with their headline peers. Nifty Smallcap fell 2.04 per cent, and Nifty Midcap dipped 2.37 per cent. Nifty 500, the broadest index on NSE, ended down 2.37 per cent.
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PNB Housing Finance, Balrampur Chini Mills, Cyient, Zee Entertainment, Balkrishna Industries and National Aluminium were top gainers from mid and smallcap indices, rising in the range of 3-7 per cent. Jubilant Ingravia, KEC International, Indiabulls Housing Finance, Indiamart Intermesh, Vodafone Idea and Oberoi Realty were major losers from broader market space, declining 6-8 per cent.
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Barring Nifty Metal that rose 2.10 per cent, all sectoral indices on NSE ended in the red. Nifty Realty was the top loser, down 5.47 per cent. Nifty Bank, Nifty Auto and Nifty Financial Services were other losers.
Market breadth was in favour of losers as 854 stocks ended in the green, while 2,604 names settled with cuts. As many as 97 securities hit 52-week highs, mostly from the smallcap space.There’s no sign of de-escalation of tension between the two nations. In short, we expect volatility to remain high and suggest keeping a close watch on global markets for cues.-Ajit Mishra, Religare Broking
Meanwhile, 161 names hit 52-week lows, mostly from the microcap space. About 268 stocks hit upper circuit limits and 459 lower circuit limits. European markets were trading lower. London-based FTSE fell 1.38 per cent while Paris and Frankfurt declined 2.73 per cent and 3.13 per cent, respectively. In Asia, all markets ended in the red.
