F&O expiry: Nifty holds 16,800, Sensex dips 188 pts day ahead of RBI policy

CLOSING BELL: ITC, Dr Reddy's Labs, Tata Steel, Sun Pharma, M&M, NTPC, and Nestle India were the top large-cap winners, while Asian Paints, Tech M, Wipro, TCS, Titan, Kotak Bank sank

CLOSING BELL

Stock market highlights: Equity markets settled lower after a volatile day on Thursday, the day of the monthly F&O (derivatives) expiry, as global cues remained unsupportive.

The S&P BSE Sensex ended at 56,410, down 188 points, while the Nifty50 closed at 16,818, down 41 points. Both the indices fell around 0.3 per cent each, slipping for a seventh consecutive session.

In the broader markets, the Nifty MidCap, and SmallCap indices added 0.4 per cent, and 0.6 per cent, respectively.

ITC, Dr Reddy's Labs, Tata Steel, Sun Pharma, M&M, NTPC, and Nestle India were the top large-cap winners, while Abbott India, Jindal Steel, Escorts, tata Chemicals, SPARC, PVR, Suzlon Energy, and Allcargo Losgistics surged in the broader market space.

On the flipside, Asian Paints, Tech M, Wipro, TCS, Titan, Kotak Bank, Dr Lal Path Labs, Vodafone Idea, Deepak Nitrite, Zendar Technologies, and Intellect Design Arena tumbled in trade today.

Among sectors, the Nifty Pharma index gained 1.3 per cent, followed by the Nifty PSU Bank index (up 1.1 per cent). On the downside, the Nifty IT index fell 0.9 per cent.

Global cues

European stocks fell on Thursday as the initial reprieve after the Bank of England stepped in to calm the markets seemingly faded. The pan-European Stoxx 600 fell 1.6 per cent by mid-morning, with autos dropping 3.4 per cent to lead losses.

Futures on Wall Street for all three main indices were also down between 0.8 per cent and 1 per cent. Earlier in Asia, indices ended mixed with Nikkei rising 0.9 per cent, and Hang Seng slipping 0.5 per cent.

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4:08 PM

GLOBAL CHECK | European markets plunge on weak global cues

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GLOBAL CHECK | US equity futures fall: Dow Futures down 200pts

4:01 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

The initial upticks of the domestic market were short-lived due to its weak global peers and declining rupee. As the yield differential between India and the US fell to a multi-year low of 348 bps, foreign investors are still departing from the Indian market. Amid the ongoing global trend of aggressive rate hikes, markets are braced for a 50 bps increase by RBI. Investors eagerly await the central bank’s intervention to aid bank liquidity, curb currency depreciation, and provide updates on its monetary stance & GDP outlook.

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3:53 PM

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SENSEX HEATMAP: 14 out of 30 index constituents in green

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CLOSING BELL: Nifty50 closes below 16,850 levels

3:34 PM

CLOSING BELL: Sensex extends slide to seven days, down over 150 points

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