Sensex falls 571 pts, Nifty ends below 17,150; metals shine, FMCG bleed
About 26 counters ended in the red on the Sensex led by PowerGrid, Ultratech Cement, Asian Paints, HUL, HCL Tech, SBI, IndusInd Bank, Nestle, Bharti Airtel, and Axis Bank
Sectorally, only the Nifty Metal and Media indices ended in the green, inching up 1.3 per cent and 0.3 per cent, respectively. The top laggards were the Nifty FMCG index, down 2 per cent, and the Nifty PSU Bank index, down 1.5 per cent.
Global markets
European stocks were little changed on Monday as pressure from the Russia-Ukraine war continues to weigh on global sentiment. The pan-European Stoxx 600 inched 0.2 per cent higher in early trade, with basic resources gaining 1.8 per cent while tech stocks slid 0.9per cent.
On Wall Street, though, futures linked to main indices were sharply higher. The Dow Jones Futures were up 0.3 per cent; S&P500 Futures added 0.8 per cent; and Nasdaq Futures rose nearly 2 per cent.
Earlier in Asia, South Korea's Kospi slipped 0.77 per cent, Hong Kong's Hang Seng dipped 0.9 per cent, and China's CSI300 eased 0.2 per cent.
Technical View: Rupak De, Senior Technical Analyst at LKP Securities
Nifty witnessed a pullback as it failed to sustain above the crucial resistance of 17330. On the lower end it slipped towards the 200DMA. On the daily chart, a bearish engulfing pattern has formed. Going forward, the Nifty may remain volatile as long as it remains below 17330. A decisive move above 17330 may induce a decent rally. On the lower end, crucial support is pegged at 17000.
Market view: Vinod Nair, Head of Research at Geojit Financial Services
With no significant improvement in the tensions between Russia & Ukraine and uncertainty in Gulf region, crude prices surged leading to a sell-off in the domestic market after the recent rally. FII’s coming back to buying mode is a positive for domestic equities but rise in bulk diesel prices & inflationary pressure is bending the domestic market. Accenture's positive earnings and strong guidance have helped Indian IT companies to be in demand, however, late selloff was witnessed.
Brent crude climbs nearly 4% to $112 a barrel
European markets mixed as EU leaders mull Russian oil embargo
US equity futures trade on a negative note
NEWS ALERT: Ukrainian President appeals Europe to cease trade ties with Russia
Rupee weakens 31 paise versus US dollar
Closing bell: IT stocks slip in red; HCL Tech tanks over 2%
Closing bell: Over 1,200 stocks declined while 877 advanced
Closing bell: Nifty FMCG worst sectoral performer; Britannia, Marico bleed over 3%
Closing bell: Coal India, Hindalco, UPL top gainers of Nifty 50
Closing bell: Only 4 Sensex stocks close in green
Closing bell: Broader markets volatile; India Vix rises sharply above 8%
Closing bell: Media, metal, pharma stocks trade firm
Closing bell: Nifty 50 closes below 17,200 levels
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First Published: Mar 21 2022 | 8:06 AM IST