Informist, Tuesday, Oct 11, 2022
By Vaibhavi
NEW DELHI – A persistent global risk-off sentiment in light of higher interest rates by central banks weighed on domestic benchmark indices, which fell for the third consecutive session today.
Broad-based selling across most frontline stocks and a sharp fall in index heavyweight Reliance Industries pulled the Nifty 50 down. The index ended below the key psychological mark of 17000 points today.
It seems that the market is more focused on the key inflation figures from India and the US rather than corporate earnings at the current juncture, which has instilled more weakness for domestic equities, said Aditya Agarwala, head of research and investment at Invest4edu.
After a resilient US jobs data, investors are more eager to find out where inflation in India and the US stands, and consequently, to gauge the impact it will have on future monetary policy decisions by their respective central banks, Agarwala said.
India's domestic consumer price data for September is due to be released on Wednesday while that of the US is slated for later this week. Hence, fund managers are in a wait-and-watch mode as they await more clarity on future rate hike trajectories.
The risk aversion was also replicated across global markets as most key benchmark indices in other Asian economies--South Korea, Taiwan, Hong Kong and Japan--slumped 2-4%. US stock futures were also around 1% lower.
Today, the Nifty 50 opened lower tracking weak global cues and extended losses to hit a low of 16950.30 points before ending 1.5% lower at 16983.55 points. The 30-stock Sensex also slipped 1.5% to end at 57147.32 points, after it fell to a low of 57050.40 points.
The strong Jul-Sep earnings by Tata Consultancy Services failed to cheer the Street as the stock fell nearly 2%. Other information technology stocks also erased their early gains and fell prey to profit booking after the recent outperformance. All large-cap IT stocks ended 2-3% lower.
RIL also slipped nearly 2% and contributed 40.73 points to the Nifty 50's 257.45 point fall.
Among others, Divi's Laboratories was the worst hit among Nifty 50 stocks. The scrip plunged 5% after brokerage house IIFL Securities warned that the company's revenues may fall as much as 20% sequentially in Jul-Sep due to a fall in sales from Molnupiravir and its base business.
Another notable mover was IndusInd Bank as it shed nearly 4% following several block deals on the NSE.
The broader market also gave up its initial gains in the face of strong selling pressures. All small- and mid-cap indices on the NSE ended 1.5-1.7% lower.
India Cements nosedived over 11% as the company's uncertain growth trajectory and unattractive valuation dented sentiment for the stock.
* Among Nifty 50 stocks, 3 rose, 47 declined
* Among Sensex stocks, 2 rose, 28 declined
* On the BSE, 1,088 stocks rose, 2,344 declined, and 131 were unchanged
* Nifty IT: Down 2%; Nifty Metal: Down 2.2%; Nifty MNC: Down 2.2%
BSE National Stock Exchange
Sensex: 57147.32, down 843.79 pts (1.5%) Nifty 50: 16983.55, down 257.45 pts (1.5%)
S&P BSE Sensitive Index Nifty 50
Lifetime High: 62245.43 (Oct 19, 2021) : Lifetime High: 18604.45 (Oct 19, 2021)
Record Close High: 61765.59 (Oct 18, 2021) : Record Close High: 18477.05 (Oct 18, 2021)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17) : 2022 Closing High: 18308.10 (Jan 17)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
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 Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
Informist, Tuesday, Oct 11, 2022
By Vaibhavi
NEW DELHI – A persistent global risk-off sentiment in light of higher interest rates by central banks weighed on domestic benchmark indices, which fell for the third consecutive session today.
Broad-based selling across most frontline stocks and a sharp fall in index heavyweight Reliance Industries pulled the Nifty 50 down. The index ended below the key psychological mark of 17000 points today.
It seems that the market is more focused on the key inflation figures from India and the US rather than corporate earnings at the current juncture, which has instilled more weakness for domestic equities, said Aditya Agarwala, head of research and investment at Invest4edu.
After a resilient US jobs data, investors are more eager to find out where inflation in India and the US stands, and consequently, to gauge the impact it will have on future monetary policy decisions by their respective central banks, Agarwala said.
India's domestic consumer price data for September is due to be released on Wednesday while that of the US is slated for later this week. Hence, fund managers are in a wait-and-watch mode as they await more clarity on future rate hike trajectories.
The risk aversion was also replicated across global markets as most key benchmark indices in other Asian economies--South Korea, Taiwan, Hong Kong and Japan--slumped 2-4%. US stock futures were also around 1% lower.
Today, the Nifty 50 opened lower tracking weak global cues and extended losses to hit a low of 16950.30 points before ending 1.5% lower at 16983.55 points. The 30-stock Sensex also slipped 1.5% to end at 57147.32 points, after it fell to a low of 57050.40 points.
The strong Jul-Sep earnings by Tata Consultancy Services failed to cheer the Street as the stock fell nearly 2%. Other information technology stocks also erased their early gains and fell prey to profit booking after the recent outperformance. All large-cap IT stocks ended 2-3% lower.
RIL also slipped nearly 2% and contributed 40.73 points to the Nifty 50's 257.45 point fall.
Among others, Divi's Laboratories was the worst hit among Nifty 50 stocks. The scrip plunged 5% after brokerage house IIFL Securities warned that the company's revenues may fall as much as 20% sequentially in Jul-Sep due to a fall in sales from Molnupiravir and its base business.
Another notable mover was IndusInd Bank as it shed nearly 4% following several block deals on the NSE.
The broader market also gave up its initial gains in the face of strong selling pressures. All small- and mid-cap indices on the NSE ended 1.5-1.7% lower.
India Cements nosedived over 11% as the company's uncertain growth trajectory and unattractive valuation dented sentiment for the stock.
* Among Nifty 50 stocks, 3 rose, 47 declined
* Among Sensex stocks, 2 rose, 28 declined
* On the BSE, 1,088 stocks rose, 2,344 declined, and 131 were unchanged
* Nifty IT: Down 2%; Nifty Metal: Down 2.2%; Nifty MNC: Down 2.2%
BSE National Stock Exchange
Sensex: 57147.32, down 843.79 pts (1.5%) Nifty 50: 16983.55, down 257.45 pts (1.5%)
S&P BSE Sensitive Index Nifty 50
Lifetime High: 62245.43 (Oct 19, 2021) : Lifetime High: 18604.45 (Oct 19, 2021)
Record Close High: 61765.59 (Oct 18, 2021) : Record Close High: 18477.05 (Oct 18, 2021)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17) : 2022 Closing High: 18308.10 (Jan 17)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
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 Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
