Both the benchmark indices of India Inc., Sensex and Nifty extended losses for the second straight trading session as sentiment turned bearish after the RBI hiked repo rate to contain inflation last Friday as the markets entered in the expiry week. It seems as though the RBI policy has washed away all the optimism from the market.
Selling pressure intensifies with the Nifty cracking more than 2% on the back of disappointing global markets and fears of more rate hikes at home. The Nifty slumped below the crucial 5900-mark to close at the day's lows at 5889.75 down by 122.35 points and the Sensex ended down 362.75 points or 1.79% to end at 19900.96.
Market maintained its southward journey since the start of the day with most of the sectoral indices losing more than 2%, weighed down heavily by rate sensitive stocks. Oil & gas, realty, auto, capital goods and telecom sectors were also under pressure. Financial stocks took a beating with Bank Nifty losing 1,000 points in the last two sessions. Weakening of Rupee against the Dollar also added to the misery.
CNX PSU Bank was the biggest loser among the sectoral indices plunging by -5.70% and followed by CNX Realty (-4.49%), Bank Nifty (-4.45%) and CNX Finance (-3.93%). CNX IT (0.83%) and CNX Metal (0.18%) were the only indices registering the gain today.
Market breadth was negative on the NSE as 412 stocks advances against 772 declines and 53 remained unchanged.
Out of 50 stocks of Nifty index, 9 stocks gained while 40 declined with 1 remaining without any change.
Top Five Nifty gainers: Sesagoa led the Nifty Gainers list and excelled by 2.92% and accompanied by HCL Technologies (2.85%), Hindalco (1.80%), Hero Moto Corp. (1.28%) and Dr. Reddys (1.26%).
Top Five Nifty Losers: Realty and banking stocks topped the Nifty losers chart today with Bank of Baroda losing the most today by -7.33% and followed by DLF (-7.03%), Axis Bank (-6.56%), IndusInd Bank (-6.44%) and J P Associates (-6.12%).
To understand the intricacies of stock market and clear the various securities markets certifications, join our practical training oriented flagship course – Certified Stock Market Professional (CSMP). For more information call +91-9582000102.
No comments:
Post a Comment