Stock Market Today: Nifty, Sensex Log Worst Week In Over A Month Amid Iran-Israel Conflict
Get all the live updates on Indian stock markets here on April 19.
KEY HIGHLIGHTS
Rupee Strengthens Against U.S. Dollar
The local currency strengthened by 7 paise to close at 83.47 against the U.S dollar.
It closed at 83.54 on Thursday.
Source: Bloomberg
Nifty, Sensex Log Worst Week In Over A Month Amid Iran-Israel Conflict: Market Wrap
India's benchmark indices reversed a four-day losing streak to end Friday higher as heavy-weight HDFC Bank Ltd., Bajaj Finance Ltd. rose. However, the benchmark posted worst weekly fall in over a month as worries over ongoing conflict between Israel and Iran dented investors' sentiment.
The NSE Nifty 50 settled 151.15 points or 0.69% higher at 22,147.00, and the S&P BSE Sensex ended 599.34 points or 0.83% up at 73,088.33.
Intraday, the benchmarks declined nearly 1% amid investor concerns that the West Asia turmoil might escalate to war after reports said Israel likely have launched an attack on Iran.
During the day, the Nifty slumped as much as 0.99% to 21,777.65, while the Sensex fell 0.93% to 71,816.46.
Key global equity indices were under pressure this week due to escalation in geopolitical events, said Shrikant Chouhan, head equity research, Kotak Securities. In the near term, market participants will keep a tab of the geopolitical developments and the impact of that on equity markets and commodities including oil and gold.
"The BSE Midcap and the BSE Smallcap indices also ended in the negative this week but outperformed their large-cap peers. Most of the sectoral indices also ended the week in the red, with the BSE Oil & Gas index being an exception," he said.
The benchmark recorded worst weekly declines as ongoing conflict between Israel and Iran weighed on risk appetite of investors, prompting them to flock into safe haven assets.
The NSE Nifty 50 and the S&P BSE Sensex declined 1.65% and 1.56%, respectively in the week ended on April 19. This is the worst decline since March 15.
HDFC Bank Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., Bajaj Finance Ltd., and Mahindra & Mahindra Ltd. added positively to the index.
Larsen & Toubro Ltd., Tata Consultancy Services Ltd., Infosys Ltd., Bajaj Auto Ltd., and HCL Technologies Ltd. limited gains in the index.
All 12 sectors ended lower this week on NSE, with the NSE Nifty IT emerging as the top loser.
Benchmark indices outperformed the broader markets. The S&P BSE Midcap ended 0.39% lower, and the S&P BSE Smallcap settled 0.04% lower.
On BSE, 11 sectors declined and nine advanced out 20. The S&P BSE Realy index was the worst performing sector, and the S&P BSE Bankex emerged as the top performing sector.
Market breadth was skewed in favour of the sellers. Around 2,063 stocks declined, 1,725 stocks advanced, and 115 remained unchanged on BSE.
Oyo Is Looking To Sell Bonds For Refinancing
Softbank-Backed Oyo is looking to sell bond sales worth $450 million for refinancing.
Source: Bloomberg
Hindustan Construction Raises Rs 350 Crore Via Rights Issue
Hindustan Construction Co. Ltd. raised Rs 350 crore via rights issue.
The rights issue was subscribed 2.5 times.
Source: Exchange filing
Bharti Airtel Surges To Record High
Shares of Bharti Airtel Ltd. rose 2.43% to Rs 1,296.50, the highest level since its listing on Feb 15, 2002. It was trading 1.30% higher at Rs 898.50 as of 2:52 p.m., as compared to 0.71% advance in the NSE Nifty index.
