Sensex ends volatile day 135 pts lower, Nifty below 15,300; Titan drops 6%

CLOSING BELL: Bajaj twins, Coal India, JSW Steel, Apollo Hospitals, ITC, ICICI Bank, RIL, and HDFC Bank were the top Nifty gainers, rising between 0.8 per cent and 3 per cent

CLOSING BELL

Stock market highlights: The S&P BSE Sensex exhibited wild swings in trade on Friday as investors remained worried about global growth outlook. The 30-pack index gyrated in a range of 732 points intra-day, and settled 135 points, or 0.26 per cent, lower at 51,360.

The NSE Nifty50, meanwhile, closed at 15,294, down 67 points or 0.44 per cent. Bajaj twins, Coal India, JSW Steel, Apollo Hospitals, ITC, ICICI Bank, RIL, and HDFC Bank were the top Nifty gainers, rising between 0.8 per cent and 3 per cent.

On the flipside, Titan Company, Wipro, HDFC Life, Shree Cement, BPCL, Dr Reddy's Labs, and Asian Paints were the top drags, down up to 6 per cent.

Sectorally, the Nifty Pharma index was worst hit, down over 2 per cent on the NSE, while the Nifty Bank added the most, up 0.75 per cent.

In the broader markets, the BSE MidCap and SmallCap indices underperformed the benchmarks and slipped  up to 0.9 per cent. 

Global markets

European markets were higher on Friday, but remained on course for a bruising week as global stocks reacted to policy tightening from major central banks. The pan-European Stoxx 600 gained 0.8 per cent in early trade after an uncertain open.

On Wall Street, futures linked to headline indices advanced between 0.8 per cent and 1.2 per cent. Earlier in Asia, Nikkei shed about 2 per cent, Kospi fell 0.43 per cent, while Hang Seng gained 1 per cent.

4:10 PM

Nifty tech view: Further upmove possible only above 15,500

Nifty remained volatile before closing around the previous low.

During the day, it found resistance around 15,400. Going forward, 15,400-15,500 is likely to remain a crucial resistance zone.

Further upmove looks possible only above 15,500.

On the flip side, drop down towards 15,000 looks very much possible if Nifty sustains below 15,300.

Views by Rupak De, Senior Technical Analyst at LKP Securities.

 

4:08 PM

Closing view: Inflation, policy tightening forcing market to discount a possible recession

Rising inflation and policy tightening by global central banks are forcing the market to discount the possibilities of recession.

With central banks’ policy tone pointing towards continued rate hikes of higher magnitude, we can expect FIIs to maintain their selling spree.

The domestic market will continue to trade with high volatility in the near term, however, the ongoing corrections are opportunities in disguise on a medium to long-term investments.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:05 PM

Rupee ends unchanged at 78.08 vs dollar

Imaging: Ajay Mohanty

4:03 PM

Markets decline most in a week after 2 years; slip 5.6%

source: Bloomberg

Markets logged the worst week in over two years, since the week ended May 8, 2020

 

3:59 PM

NSE stocks that touched new 52-week lows

check full list

chart

3:56 PM

Matrimony.com gains over 1%; board to fix buy back date on June 22

3:54 PM

Textile co Mafatlal Ind sheds 4%; co to divest stake in subsidiary Vrata Tech

3:51 PM

Delta Corp surges 12% as gaming arm files DRHP for Rs 550 cr IPO

3:48 PM

REC bucks trend; board to mull bonus issue on June 30

3:47 PM

Sectoral trends: Nifty financials end higher; energy, pharma worst hit

3:44 PM

Losses across broader markets: SmallCaps top laggards

3:42 PM

Nifty losers: Titan cracks 6%; Wipro, Shree Cement other top drags

3:41 PM

Nifty additional winners: Coal India, JSW Steel gain 2% each

3:39 PM

Sensex heatmap: Only 11 stocks close in green; Bajaj twins, RIL top winners

3:37 PM

Closing Bell: Nifty ends below 15,300 in choppy session