Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Sep 14, 2022

Sensex, Nifty Snap Four-Day Winning Streak Led By Decline In IT Stocks: Market Wrap

Sensex, Nifty Snap Four-Day Winning Streak Led By Decline In IT Stocks: Market Wrap
Sensex, Nifty Erase Most Of Losses As Banking, Metal Gains Almost Offset Fall In I.T Stocks: Market Wrap (Source:Tech Daily/)Unsplash

India's stock benchmarks ended down, snapping a four-day winning streak, led by decline in information technology, realty, and oil and gas stocks.

The morning session decline due to overnight sharp slide in Wall Street following hotter-than-expected inflation reading got almost offset by gains in metals, banking, and basic materials stocks.

The Sensex lost 0.37% or 224 points to end at 60,346.97 after posting a almost 1,000-point recovery from the day's low of 59,417.12 on the BSE. The Nifty 50 also recovered from the gap-down start to close above 18,000 for the second session in row. Among Nifty 50 constituents, 21 stocks rose, while 29 fell.

IndusInd Bank Ltd., NTPC Ltd., Power Grid Corporation Ltd., State Bank of India, and Kotak Mahindra Bank Ltd. were among the top gainers. While Information technology stocks such as Infosys Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., HCL Technologies Ltd., and Larsen & Toubro Ltd. were the top losers.

The broader indices outperformed their larger peers, with mid cap gauge losing 0.1% and small cap gauge closing little changed. Thirteen of the 19 sectoral indices compiled by BSE Ltd. declined.

The market breadth was skewed slightly in the favour of bears. About 1,692 stocks rose, 1,775 fell and 144 remained unchanged.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search