The market has recently become volatile as extended valuations are worrisome to investors. This is despite the fact that FII remains bullish in India like never before. Analysts believe that some integration is likely to occur before the next rise.
The 30-share pack Sensex closed at 48,878.54, down 746.22 points (1.5%). Its wider peer NSE Ifty settled at 14,371.90, down 218.45 points or 1.50 percent.
“The Indian index fell due to the weak global market found in the metals and banks index and the afternoon trade dragged by sales. The European market today has weak UK retail sales and regulations in the euro area. Despite the downturn due to the strengthening, the Asian market followed its European peers, “Binod Nea said. , Head of Research at Geojit Financial Services.
The crash wiped out Rs 2.09 from the market as the market capitalization of BSE-listed companies fell to Rs 194.42.
Market at a glance:
- Impact of Q3: Bajaj Auto surges more than 10% after earnings
- Bank stocks fall: Nifty Bank exceeds 3%
- India VIX inch up 1%, Reflecting the tension of the street
- IPO watch: Indigo Paints has subscribed 61 times.Home First 1.61 times
- 223 shares hit a 52-week high: Top names of Ashok Leyland, Havells, TaMo, TVS Motor, Crompton, Bosch
Among the best-in-class companies, Bajaj Auto was the top gain, up 11%. Hero MotoCorp, Eicher Motors, HUL, Ultratech Cement, TCS, GAIL and Tata Motors were other winners.
Axis Bank was the biggest loser in Nifty Pack, down 4.48 percent. Asian Paints, JSW Steel, ICICI Bank, Hindalco, IndusInd Bank, SBI, Bajaj Finance and Tata Steel ended in the red.
The broader market index ended with a cut ahead of its peers in the headline. Nifty Small Caps fell 0.58 percent and Nifty Mid Caps fell 1.22 percent. The NSE’s broadest index, the Nifty500, fell 1.34%.
Apollo Tyres, Future Retail, Endurance Technologies, DCM Shriram, Kajaria Ceramics and CEAT rose in the 3-8% range, the top gain from the medium and small cap indices.
Engineers India, EID Parry, Indians Real Estate, Jindal Steel, SRF and RBL Bank were major losers from the wider market space, ranging from 3-7%.
All NSE sector indexes closed on profit, with the exception of Nifty Auto and Nifty IT, which added 1.43% and 0.15% respectively. Nifty Metal and Nifty Bank fell the most, down 3.89% and 3.17%, respectively.
“The current earnings season and the expiration date of future derivatives will not release us from the forefront of volatility. Therefore, we strongly recommend that you check your bare leverage position and wait for further clarification.”
The width of the market favored the loser as 2,005 shares ended in green, but the 979 name settled in the cut. As many as 223 securities hit 52-week highs, primarily from small cap stocks. Meanwhile, 36 shares hit 52-week lows, primarily from microcap space. About 280 stocks have reached the upper limit of the circuit and 317 shares have reached the lower limit of the circuit.
The European market was trading in cuts at the last count. London-based FTSE fell 0.52%, while Paris and Frankfurt fell 0.98% and 0.62%, respectively. Even in Asia, all markets closed in the red.
Sensex ends with 746 points down, Nifty gives up 14,400 in global sales
https://economictimes.indiatimes.com/markets/stocks/news/sensex-closes-746-points-lower-nifty-gives-up-14400-amid-global-selloff/articleshow/80405762.cms Sensex ends with 746 points down, Nifty gives up 14,400 in global sales