Sensex falls 992 pts from day's high, ends 137 pts down; SBI sheds 5%

CLOSING BELL: SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender's Q4 missed Street's estimates

CLOSING BELL

Stock market highlights: Fag-end selling engulfed the markets on Friday as investors booked profit in banks and metal stocks. With this, the markets ended lower for the sixth straight day despite upbeat global mood.

The S&P BSE Sensex slumped 992 points from the day's high to end at 52,794, down 137 points or 0.26 per cent. SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender's Q4 missed Street's estimates. READ MORE

NTPC, ICICI Bank, Axis Bank, Maruti Suzuki, Airtel, HDFC twins, and Bajaj twins were the other draggers.

On the NSE, the Nifty50 shut shop at 15,782, down 26 points or 0.16 per cent, after hitting an intra-day high of 16,084. Meanwhile, in the broader market, the BSE SmallCap index added over 1.3 per cent and the BSE MidCap index gained 0.6 per cent.

Sectorally, the Nifty Metal index fell 2 per cent, followed by the Nifty Bank index (down over 1 per cent). On the upside, the Nifty Auto index gained 2.5 per cent led by Tata Motors. Shares of the Tata Group company settled over 8 per cent higher as investors cheered the company's long-term growth prospects. READ MORE

Primary market update (as of 3:30 PM)

Delhivery IPO: Issue subscribed 1.5 times so far on final day with QIB portion at 2.6x; NII at 5 per cent; retail at 54 per cent; and employees at 25 per cent.

Venus Pipes and Tubes: Issue subscribed 14.4 times so far with retail portion at 17.7 times; NIi at 14 times; and QIB at 8.8 times. 

4:15 PM

Technical view: Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities

The Nifty 50 index continued to witness selling pressure and ended the week on a negative note. The trend remains negative in the near term and closes above 16400 and will only resume the uptrend. The downside support is placed at 15600-15500 levels and if fails to sustain above this will witness further correction.
 

 

 

4:10 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

High domestic inflation data failed to spook investors since the recent selloff has already absorbed the ongoing uncertainties in the market. Domestic markets witnessed a rebound as buyers took the recent correction into their advantage following the trend of the global market. However, the weakness seen in the banking sector triggered a late selloff. The US Fed cautioned against an aggressive policy stance in order to bring inflation under the Fed’s comfort zone of 2%.

4:06 PM

European markets edge higher in trade

4:00 PM

US equity futures trade on a positive note

3:55 PM

Closing bell: Over 2,000 stocks advanced whereas 1,172 declined

3:52 PM

Closing bell: Auro Pharma, Axis Bank among stocks that hit 52-week low

3:50 PM

Closing bell: Hindalco, SBI, JSW Steel top Nifty 50 losers

3:47 PM

Closing bell: Tata Motors, Sun Pharma, M&M top Nifty 50 gainers

3:44 PM

Closing bell: Broader markets firm; India Vix slips below 4%

3:42 PM

Closing bell: Nifty Auto best sectoral performer

3:38 PM

Closing bell: All sectoral indices sizzle in green

3:37 PM

Closing bell: 14 out of 30 Sensex stocks close in positive zone

3:36 PM

Closing bell: Sensex sheds over 100 points

3:32 PM

Closing bell: Nifty 50 closes below 15,800 levels

3:17 PM

Poonawalla Fincorp surges 20% post March quarter results

Shares of Poonawall Fincorp (formerly known as Magma Fincorp) surged 20 per cent to Rs 259.80 on the BSE in Friday’s trade after the company reported consolidated profit after tax (PAT) of Rs 119 crore, on the back of strong operational performance in March quarter (Q4FY22). READ MORE HERE