Stock Market Today: Nifty Registers Worst Week In Over Four Months Amid Small & Mid Cap Rout
The Nifty ended at 21,996.55, down 150.10 points or 0.68% and the Sensex closed at 72,643.43, 453.85 points or 0.62% lower.
KEY HIGHLIGHTS
Yield On The 10-Year Bond Ends higher
The yield on the 10-year bond closed 2 bps higher at 7.06% on Friday.
Source: Bloomberg
Rupee Closes Weaker Against U.S. Dollar
-The local currency weakened by 6 paise to close at 82.89 against the U.S. Dollar.
-It closed at 82.83 a dollar on Thursday.
Source: Bloomberg
Nifty Registers Worst Week In Over Four Months Amid Small & Mid Cap Rout: Closing Bell
The benchmark 50-stock index snapped its four week rally and recorded their worst fall in over four months. Today, the indices were dragged by shares of M&M and Reliance Industries.
Smallcap and midcap indices recovered in the last part of today's trade but they ended with weekly losses.
The Nifty ended at 21,996.55, down 150.10 points or 0.68% and the Sensex closed at 72,643.43, 453.85 points or 0.62% lower.
On a weekly basis, the Nifty 50 fell 2.09% and the Sensex fell 1.99%.
"The Nifty has once again closed below the rising trendline, bringing market sentiment back into a state of weakness," said Rupak De, Senior Technical Analyst, LKP Securities. "The momentum indicator suggests bearish momentum in the near term"
Vinod Nair, head of research at Geojit Financial Services said, "Cautiousness towards mid & small caps continued to drag market sentiment, dampening the broader market."
He anticipates continued bargain opportunities in mid- and small-cap stocks, whose valuations are underpinned by strong fundamentals
Shares of Reliance Industries Ltd., Larsen & Toubro Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., and Tata Motors Ltd. dragged the Nifty.
While those of Bharti Airtel Ltd., Bajaj Finance Ltd., Hindalco Industries Ltd., Adani Enterprises Ltd., and HDFC Life Insurance Co Ltd. minimized the losses.
Broader markets ended on a mixed note on BSE. The S&P BSE Midcap ended 0.51% lower, and the S&P BSE Smallcap ended 0.25% higher.
On BSE, 16 sectors declined, and four advanced. The S&P BSE Oil and Gas fell the most among sectoral indices. The S&P BSE Telecommunication rose 1.04% to become the top performer among sectoral indices.
Market breadth was skewed in favour of sellers. Around 2, 010 stocks declined, 1,811 stocks rose, and 115 stocks remained unchanged on BSE.
Most sectoral indices ended lower this week.
GMR Airports February Traffic Data
Total aircraft movements at 63,785, up 8% YoY
Total passenger traffic at 1.02 crore, up 10% YoY
Source: Exchange Filing
Reliance Power Signs Settlement Agreement With ICICI Bank
ICICI holds eight hundred and eighty-six equity shares of the Company and is neither a related party nor part of the promoter group.
Source: Exchange Filing
