Biggest Drop Since May 2020
Indian equities declined the most since May last year as a sell-off in bond markets across the globe sparked a rout in global equities.
The S&P BSE Sensex ended 3.8% or 1,939 points lower at 49,099 while the NSE Nifty 50 index also shed over 550 points to end 3.8% lower at 14,529. This was the worst weekly drop for the Sensex and the Nifty in a month, when equities had declined over 5% ahead of the Union Budget. All 50 constituents on the Nifty index ended with losses in today's session.
All sectoral indices ended lower with the Nifty Bank index emerging as the top sectoral laggard. The index fell 4.78% or 1,745 points to end below the 35,000 mark at 34,803. The PSU Bank index also saw declines of 4%.
The Nifty Auto index fell over 3% while the Nifty Metal index, Nifty Media index and the Nifty I.T. index saw losses between 2.3% to 2.7%.
The Nifty Pharma index, which at one point was the only sectoral gainer, gave up gains to end with losses of 1.8%.
Broader markets ended lower but the losses were modest as compared to the benchmark indices. The Nifty Midcap index fell 1.6% while the Smallcap index ended with losses of 1.2%.
The India Volatility Index ended 22.9% higher at 28.14.
1,324 stocks on the NSE ended with losses while 571 stocks bucked the trend to end higher.
Rupee Drops The Most Since March
Auto Index Falls To A One-Month Low
Enabling Direct Overseas Listing
Bucking The Trend: Rashtriya Chemicals & Fertilisers
- Top gainer on the nifty Smallcap index
- Gains as much as 19.3% to Rs 80.8
- Trading at the highest level since April 2018
- Up for the fourth straight day
- Has gained 47% in the last four trading sessions
- Today's volumes are 16 times its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 84
All Stocks On The PSU Bank Index Decline
PNB To Not Invest In PNB Housing's Fund Raising Plans
Benchmark Indices Look For Support at Lower Levels
- Nifty down 2.9% at 14,656
- Sensex down 3% at 49,521
- Nifty Bank down 4.1% at 35,040
- Nifty Midcap Index down 1.7%
- Nifty Smallcap index down 1.1%
- India Volatility Index up 22% at 28
- All sectoral indices trade with losses
- PSU Bank index remains among top laggards; down 3.3%
- Nifty Auto and Nifty Media index down 2.5% each
- Nifty Metal index down 1.8% while Nifty I.T. declines 1.3%
- NTPC is one among the two Nifty gainers; up 0.8%
- Mahindra & Mahindra is the top Nifty laggard; down 5.6%
- 1,313 stocks on the NSE trade with losses while 537 stocks gain
Thermax At Record High
- Gains as much as 10.9% to Rs 1,436.9
- Up for the fourth straight day
- Longest winning streak in over a month
- Today's volumes are 37% higher than its 52-week high
- Stock in overbought territory with Relative Strength Index (RSI) at 81
- Five out of the 30 analysts tracking the stock have a buy recommendation; 18 sell calls
- The stock trades 24.4% higher than its 12-month Bloomberg consensus price target of Rs 1,015.4
All Constituents On The Nifty 50 Decline
Bucking The Trend: IRCTC
- Top gainer on the Nifty Midcap index
- Gains as much as 4.8% to Rs 1,809.9
- Trades at a 52-week high
- Up for the fourth straight day
- Today's volumes are triple its 20-day average
- Stock enters overbought territory with Relative Strength Index (RSI) at 71
- All five analysts tracking the stock have a buy recommendation
- Return potential as per Bloomberg consensus data is 9.1%
Sell-Off Intensifies
- Nifty down 3.4% at 14,579
- Sensex down 3.5% at 49,239
- Nifty Bank down 5% at 34,712
- Nifty Midcap index down 2.3%
- Nifty Smallcap index down 1.8%
- India Volatility Index up 28.5% to 29.4
- All sectoral indices trade with losses
- Nifty PSU Bank index down 3.8%
- Nifty Metal and Nifty Auto and Nfity Media indices decline over 3% each
- Nifty Realty down 2.7% while I.T. index falls 2.2%
- Pharma index also gives up gains to trade 0.5% lower
- Sun Pharma is the only Nifty gainer; up 0.2%
- ICICI Bank is the top Nifty laggard; down 5.7%
- Eight out of the top 10 Nifty laggards decline 5% or more
- 1,420 stocks on the NSE decline while 410 are bucking the trend
India Volatility Index Up Over 25%
Benchmark Indices At Day's Low
Natco Pharma Launches Brivaracetam Tablets In India
- Brivaracetam tablets launched under the BRECITA brand in India.
- Brivaracetam is indicated towards treatment of epilepsy.
- Will be available in two strengths of 50 mg and 100 mg at MRP of Rs 25 and Rs 35 per tablet respectively.
- Shares gained as much as 1.6% to Rs 815.1, post the announcement.
Benchmark Indices Fall To The Day's Low
- Nifty down 2.9% at 14,666
- Sensex down 2.9% at 49,560
- Nifty Bank down 4.3% at 34,968
- Nifty Midcap index down 2.2%
- Nifty Smallcap index down 1.8%
- India Volatility Index up 22.7% to 28.1
- PSU Bank index declines 4.6%; is the top sectoral laggard
- Nifty Metal index down 3.3% while Realty index declines 3%
- Nifty Media index down 2.8%, Nifty Auto corrects 2.4% while I.T. index falls 1.8%
- Sun Pharma is the top Nifty gainer; up 0.9%
- ICICI Bank is the top Nifty laggard; down 5%
- 1,403 stocks on the NSE trade with losses while 409 are gaining
Most Stocks On The Metal Index Decline
Dilip Buildcon Bucks The Trend
- Declared L-1 bidder for tenders floated by NHAI on HAM basis in Tamil Nadu and Puducherry
- First project involves four laning of Viluppuram-Puducherry section of NH 45A. Bid project cost is Rs 1,013 crore and is slated to be completed in 24 months
- Second project involves four laning of Puducherry-Poondiyankuppam section of NH 45A. Bid project cost is Rs 1,228 crore and completion timeline is 24 months.
- Operation period is 15 years for both the projects.
- Shares gained as much as 4.6% to Rs 689 - the highest since March 2019. The stock is up for the eighth straight day.
Five Smallcap Chemical Companies Plan Capex
All Stocks On The Nifty Bank Index Decline
Benchmark Indices Trade Near The Day's Low
- Nifty down 1.5% at 14,875
- Sensex down 1.6% at 50,236
- Nifty Bank down 2.7% at 35,571
- Nifty Midcap index down 0.5%
- Nifty Smallcap index down 0.3%
- India Volatility Index up 8.2% to 24.8
- Nifty Pharma is the only sectoral gainer; up 1%
- PSU Bank index down 2.5% while Nifty I.T. and Nifty Realty fall 1% each
- Nifty Auto and Nifty Metal decline over 0.5% each
- Maruti is the top Nifty gainer; up 1.7%
- IndusInd Bank is the top Nifty laggard; down 4%
- 36 out of the 50 index constituents decline
- 1,049 stocks on the NSE are declining while 682 stocks gain
RailTel Lists On The Bourses At A Premium
- Lists at Rs 104.6 - a premium of 11.3% to the issue price of Rs 94.
- Gains as much as 18.7% in the early minutes of trade to Rs 111.6
The Latest Telecom Spectrum Auctions
Weakness Across The Board
Indian equities have opened lower after two straight days of gains. Sentiment across global equities is risk-off as bond markets continued to sell-off on Thursday.
The S&P BSE Sensex opened 1.5% or nearly 800 points lower at 50,256 while the NSE Nifty 50 index opened 1.4% lower at 14,888.
All sectoral indices have opened lower. The Nifty Bank index fell 2% at the start of trade to open below the mark of 36,000. The PSU Bank index is also down 2.5% in the early minutes of trade.
Nifty Metal, Nifty Media indices opened with losses greater than 1.5% while the Nifty Auto index declined 1.2%.
Broader markets have also opened lower, in-line with benchmark indices. The Nifty Midcap index is down 1.4% while the Smallcap index is down 1.3% at the start of trade.
Current Market Update
A Gap-Down Opening Likely
Good Morning!
Indian equities are likely to witness a gap-down opening on Friday after a selloff on Wall Street overnight and a negative start to trading across the Asia-Pacific.
Global equities are facing a bout of correction as bonds continue to sell off. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.7% to 14,927 as of 8:25 a.m. on Friday.
So far this week, the Sensex and the Nifty 50 have gained close to 1%.
Global bonds are now recovering and Asian equities are off their intraday low. Stocks in South Korea and Japan continue to trade lower. Japan's benchmark yield traded close to its highest since early 2016.
Futures on the Dow Jones are trading 50 points higher. The index ended with losses of 1.7% on Thursday.
West Texas Intermediate crude fell 0.4% to 63.28 per barrel. Yet, it is on course for its best February in at least three decades, for which data is available on Bloomberg.
Yield on the 10-year treasuries were back below 1.5% after hitting a high of 1.6% intraday on Thursday.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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