Informist, Friday, Jun 9, 2023
By Pradeep Suresh V
MUMBAI – Benchmark equity indices continued to witness a downturn and closed in the red for the second straight session today. Both the Nifty 50 and the Sensex closed 0.4% lower at 18563.40 points and 62625.63 points, respectively, after a choppy session.
Indices had opened in the green tracking positive cues from the Wall Street following expectations that the US Federal Reserve may pause its rate tightening cycle. However, the momentum was soon lost amid losses suffered by banking stocks.
The Nifty PSU Bank index was the top loser among sectoral indices, ending 1.2% lower. The Nifty FMCG index ended 0.9% down and both Nifty Media and Nifty IT fell 0.8%.
"The majority of sectors aligned with the benchmark move and ended lower wherein IT (information technology), FMCG (fast-moving consumer goods), and automobile were among the top losers. The broader indices too witnessed profit taking and settled marginally in the red," said Ajit Mishra, senior vice president at Religare Broking in a note.
Riches Vanara, technical and derivatives analyst at Stoxbox, said in a note that market participants were jittery over the Federal Open Market Committee's decision due next week.
Among Nifty 50 stocks, automobile companies emerged as top losers with Hero Motocorp and Eicher Motors ending 2.2% and 2.1% lower, respectively.
Shares of the Indian Energy Exchange ended 10.2% down after hitting a lower circuit at 122.80 rupees soon after the market opened today. The stock was down for the second straight day after reports said that the power ministry has directed the Central Electricity Regulatory Commission to implement the process of market coupling. The stock has fallen 15% in the last two days and hit a two-year low of 116 rupees.
Shares of HDFC Asset Management Co fell 3% as the stock traded without the value of its dividend today. The company had on Apr 25 announced a dividend of 48 rupees per share.
"Market has entered into a time-wise correction phase," said Osho Krishan of Angel One, assuring that the downturn is the result of a short-term blip and the sentiments remain positive.
Key heavyweights in the IT sector such as HCL Technologies, Infosys, Wipro, Tata Consultancy Services and Tech Mahindra ended lower. Midcap and smallcap indices on the NSE also fell.
Among sectoral indices, only the Nifty Private Bank and Nifty Infrastructure indices ended up 0.2% and 0.1%, respectively. The Nifty Realty index ended flat.
IndusInd Bank was the top gainer among Nifty 50 stocks, with its shares ending 2.1% higher, followed by Power Grid Corp of India and Axis Bank, whose shares ended 1.3% higher each.
Shares of Hindustan Aeronautics ended 5.8% higher today, extending gains for the sixth straight session, after hitting an all-time high of 3,785 rupees. Shares of InterGlobe Aviation ended 0.6% up, extending their gains for the sixth session, after hitting a fresh all-time high of 2,488 rupees today.
* Of the Nifty 50 stocks, 16 rose and 34 fell
* Of the Sensex stocks, 11 rose and 19 fell
* On the BSE, 1,679 stocks rose,1,862 fell, and 107 were unchanged
* Nifty Private Bank: up 0.23%; Nifty PSU Bank: down 1.21%; Nifty FMCG: down 0.92%
BSE NSE
Sensex: 62625.63, down 223.01 pts or 0.35% Nifty 50: 18563.40, down 71.15 pts or 0.38%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 63583.07 (Dec 1, 2022) : Lifetime High: 18887.60 (Dec 1, 2022)
Record Close High: 63284.19 (Dec 1, 2022) : Record Close High: 18812.50 (Dec 1, 2022)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 63142.96 (Jun 7) : 2023 Closing High: 18726.40 (Jun 7)
2023 Closing Low: 59288.35(Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 63196.43 (Jun 7) : 2023 High (intraday): 18738.95 (Jun 7)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Jan 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Tanima Banerjee
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