Stock Market Today: Nifty, Sensex End Off Highs As Ukraine Carries Out Deep Strikes Inside Russia
Benchmarks gave up most gains in the last leg of the trade as risk sentiment were affected on fear of nuclear response from Russia.
(Photo credit: Meta AI)
KEY HIGHLIGHTS
US Futures Decline As Risk Off Sentiment Rise After Ukraine Strikes Russia With Western Weapons
Nifty, Sensex Give Up Gains In Last Hour As Ukraine Carries Out Deep Strikes Inside Russia: Market Wrap
Rupee Weakens To Record Closing Low Against US Dollar
Market At Close
Stock Market Live: India's 1.5 Lakh Crore Buy–On–Dips Investment Yet To Yield Return
Economic Data Releases And Events For Nov 19
US: Building Permits — 7:00 p.m.
US: Housing Starts — 7:00 p.m.
US: Federal Reserve Bank of Kansas City President Jeffrey Schmid will speak at the Greater Omaha Chamber — 11:40 p.m.
US Futures Decline As Risk Off Sentiment Rise After Ukraine Strikes Russia With Western Weapons
US futures declined as risk–off sentiment rose after Ukraine striked deep inside Russia with non–nuclear western weapons. News report said that this could lead to retaliation from the Russia with nuclear weapon.
As of 3:33 p.m., futures contract of both S&P 500 and Nasdaq 100 traded 0.5% lower while that of Down Jones fell by 0.6%.
Nifty, Sensex Give Up Gains In Last Hour As Ukraine Carries Out Deep Strikes Inside Russia: Market Wrap
The Indian benchmark gave up most gains in the last leg of the trade as risk sentiment plunged after Ukraine carried out strikes deep inside Russia with western non–nuclear missiles. The risk sentiment were affected on concerns that Ukraine's this strike with western weapons may lead to nuclear response by the Russia, the Guardian reported citing Tass.
Despite giving up gains, the NSE Nifty 50 snapped a seven–day losing streak. The BSE Sensex reversed a four–day loss. The Nifty 50 ended 64.70 points or 0.28% higher at 23,518.50. The Sensex ended 239.38 points or 0.31% higher at 77,578.38.
Indian financial markets are closed on Wednesday for Maharashtra State Assembly Election.
Earlier in the day, the Nifty 50 rose 1.39% to 23,780.65, and the Sensex rose 1.44% to 78,451.65. Both the indices posted their biggest intraday gains since Sept 20.
Broad–based gains across emerging asset class following a decline in US Treasury yields and the dollar index also supported upward trajectory of Indian benchmarks.
The NSE India Volatility Index plunged 16.05% to 12.73, the lowest level since Oct 24. It ended 3.23% higher at 15.66.
The Sensex ended 0.30% higher at 77,570.04.
The Nifty 50 ended 0.28% higher at 23,518.50.
Despite a strong opening, the Index was unable to hold its higher levels as a steep correction was seen in the IT and Mid/Smallcap counters which pulled the Index lower to 23,350, said Aditya Gaggar, director, Progressive Shares. However, a strong uptick in the Metal, select FMCG and PSU Banking stocks supported the Index to turn green but another round of selling dragged the Index lower to settle the trade at 23,453.80 with a loss of 78.90 points. The disparity was seen in the Broader markets where Midcaps outperformed while Smallcap underperformed the Frontline Index.
With a bearish Marubozu candlestick pattern, the Index decisively closed below the 200–day simple moving average which provides a negative picture but to confirm the breakdown, we will wait for at least 1 or 2 trading sessions. Today's low is crucial and considered as immediate support: 23,350 while the first hurdle is placed at 23,600. A break on either sides will open the door for another 250-300 points, Gaggar said.
The Nifty Bank ended 0.52% higher at 50,626.50.
HDFC Bank Ltd., Mahindra & Mahindra Ltd., Infosys Ltd., Sun Pharmaceutical Industries Ltd., and Tata Consultancy Services Ltd. added to the Nifty 50 index.
Reliance Industries Ltd., ICICI Bank Ltd., State Bank of India, Larsen & Toubro Ltd., and Bharti Airtel Ltd. limited gains in the index.
Top contribution to the Nifty 50 index.
On NSE, eight sectors ended higher, and four declined out of 12. The NSE Metal declined the most, and the NSE Nifty Media rose the most.
Most sectoral indices end higher on Nov 19.
Broader indices outperformed. Both BSE Midcap and BSE Smallcap closed 0.9% higher.
Three of the 21 sectoral indices on the BSE fell and 18 ended in the green. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. Around 2,313 stock rose, 1,649 declined, and 97 remained unchanged on the BSE.
Rupee Weakens To Record Closing Low Against US Dollar
Rupee weakened by 2 paise to end at record closing low of 84.41 against US Dollar. It closed at 84.39 on Monday, according to data on Bloomberg.
The India rupee ended at the record closing low of 84.42 on November 19
Market At Close
The NSE Nifty 50 snapped the worst losing streak in over 20 months —seven–day fall— on Tuesday. The BSE Sensex snapped a four–day losing streak.
The Nifty 50 and Sensex had the best session since Sept 20 in terms of intraday gains.
Mahindra & Mahindra Ltd., Tech Mahindra Ltd., and HDFC Bank Ltd. were top gainers in the Nifty 50 index.
SBI Life Insurance Co., Hindalco Industries Ltd., and Reliance Industries Ltd. were top loser in the index.
The NSE Nifty Metal was the top performing sectoral index, and the NSE Nifty Media was the worst performing sectoral index.
The NSE Nifty Midcap 150 ended 1.02% higher at 20,273.65.
The NSE Nifty Smallcap 250 ended 1.10% higher at 16,876.15.
