JSW Steel was top Nifty loser, the stock fell 3.4 per cent to close at Rs 733.
The Indian equity benchmarks snapped their four-day winning streak as banking, financial services, metal and information technology shares came under selling pressure amid weak global cues. The Sensex fell as much as 514 points and Nifty 50 index briefly moved below its important psychological level of 14,800. HDFC, Kotak Mahindra Bank, HDFC Bank, Infosys and Hindustan Unilever were among the top drags on the Sensex.
The Sensex ended 341 points or 0.7 per cent lower at 49,162 and Nifty 50 index declined 92 points to close at 14,851.
Asian shares slipped following a weak close on Wall Street overnight, with U.S. inflation expectations surging to their highest in a decade as the economy reopens from pandemic-induced shutdowns.
Financial stocks give Sensex 424-point lift after RBI announcements
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The broader NSE Nifty 50 benchmark settled at 14,617.85, up 121.35 points or 0.84 per cent from its previous close.
The S&P BSE Sensex index ended 424.04 points or 0.88 per cent higher at 48,677.55.
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NEW DELHI: Benchmark indices registered sharp gains on Wednesday amid strong buying interest in banking and financial stocks after RBI Governor Shaktikanta Das allowed the restructuring of retail and MSME loans. Positive global cues also boosted the market sentiment.
Pharma names were in demand while the broader market witnessed keen interest in shipping stocks as well as select PSU stocks. Index rebalancing by MSCI also led to some buying in certain stocks.
Market wipes out losses to end flat; banks, financials slip
May 03, 2021
Sensex down 64 points at close, Nifty below 14,700
The market recovered from its early losses to end flat on Monday, dragged down by bank stocks. The market opened on a negative note and remained volatile through the day as concerns related to the Covid-19 situation continued to weigh on investor sentiment.
The BSE Sensex, after hitting an intra-day low of 48,028.07 in early trade, closed at.48,718.52, down 63.84 points or 0.13 per cent. In fact, the index recovered sharply to hit an intra-day high of 48,863.23 during the closing hours.
The Nifty 50 closed at 14,634.15, down 3.05 points or 0.02 per cent. It hit an intra-day high of 14,673.85 and an intra-day low of 14,416.25.
In a week where the trading range stayed narrower than the previous week, Indian equities saw a corrective decline. This was also a truncated week with just four trading sessions, and saw the headline index oscillate in a 375-point range.
While the trading range remained narrow, intraday volatility and ranged oscillations remained high. Nifty remained in the falling channel that it has formed, but refused to take any directional cue through the week.
In a volatile trading week, the benchmark index finally ended with a net loss of 276 points, or 1.89 per cent, on a weekly basis.
Despite having a narrow trading range, Nifty’s most recent move was a bit technically damaging on the weekly charts. In the previous weekly note, we had mentioned that Nifty had violated the rising trendline pattern support, but managed to bounce off that trendline. This trendline is a major pattern support, drawn from the lows made in March 2020, which joins the subsequent higher bottoms until today.
Sensex ends volatile day 260 points higher as D-St extends gains to 2nd day
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The S&P BSE Sensex index moved in a range of 877.3 points, between 48,010.55 and 48,887.85, during the session.
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NEW DELHI: Equity benchmarks ended a volatile session on Thursday on a positive note despite a sharp rise in Covid-19 infections across the country. Firm global cues boosted the market sentiments.
After the imposition of restrictions by the Maharashtra government, Delhi also announced a weekend curfew to tame the spread of the deadly virus. The market is becoming more cautious as states are increasing restrictions due to the havoc created by the virus, said an analyst.