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Sensex, Nifty Extend Losses To Sixth Day In Volatile Trade

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Sensex, Nifty Extend Losses To Sixth Day In Volatile Trade
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Sensex and Nifty settled lower in a volatile trade today.

New Delhi:

Indian equity benchmarks on Friday extended their fall for the sixth straight day as losses in banking, financial and metal stocks countered gains in automobile, consumer goods and pharma. The domestic indices plunged into the red during late deals.

Investors remained worried amid the persistently high inflation and hawkish policy stance by central banks.

The 30-share BSE Sensex slipped 137 points or 0.26 per cent to close at 52,794, while the broader NSE Nifty moved 26 points or 0.16 per cent down to settle at 15,782. Sensex swung in a band of 1,131 points during today’s session.

Mid- and small-cap shares finished weak as Nifty Midcap 100 fell 1.03 per cent and small-cap shed 0.94 per cent.

Seven out of the 15 sector gauges — compiled by the National Stock Exchange — settled in the red. Sub-indexes Nifty Bank, Nifty Financial Services and Nifty Metal underperformed the index by falling as much as 1.23 per cent, 1.26 per cent and 2.08 per cent, respectively.

On the stock-specific front, Hindalco was the top loser as the stock cracked 4.84 per cent to Rs 386.20. SBI, JSW Steel, ICICI Bank and Bharti Airtel were also among the losers.

However, the overall market breadth stood positive as 2,159 shares advanced while 1,178 declined on BSE.

On the 30-share BSE index, SBI, ICICI Bank, NTPC, Airtel, Axis Bank, Maruti, Tata Steel, Bajaj Finserv, Bajaj Finance, Wipro, HDFC twins (HDFC and HDFC Bank) and Tech Mahindra were among the top laggards.

In contrast, Sun Pharma, M&M, ITC, Hindustan Unilever, Titan, Reliance Industries, Dr Reddy’s, Asian Paints, Nestle India, Kotak Mahindra Bank and UltraTech Cement finished in the green.

Also, Tata Motors surged 8.51 per cent to Rs 404 after reporting a smaller loss in the fourth quarter ended March 31, 2022.

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