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Market Highlights: Sensex crashes 1,747 points, Nifty ends below 16,900-mark as geopolitical tensions spook investors

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 56,405.84, down 1,747.08 points (3.00 per cent), while the Nifty 50 settled at 16,842.80, down 531.95 points (3.06 per cent).

By: Express Web Desk
New Delhi | Updated: February 14, 2022 4:28:20 pm
stock markets, Sensex, equity schemes, Passive funds, India news, Indian express, Indian express news, current affairsThe rupee, meanwhile, fell to a record low for a second time this week, hitting 77.63 against the dollar in intra-day trade. The currency, however, made a partial recovery to settle at 77.50. (Express archive photo)

Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) fell for the second successive session as they crashed around 3 per cent on Monday taking cues from their global peers which fell due to rising Russia-Ukraine tensions.

The S&P BSE Sensex crashed 1,747.08 points (3.00 per cent) to settle at 56,405.84 while the Nifty 50 fell 531.95 points (3.06 per cent) to end at 16,842.80. Earlier in the day, both the topline indices had opened over 2 per cent lower and slipped over 3.2 per cent in the intraday deals with the 30-share BSE benchmark hitting a low of 56,295.70 and the broader Nifty touching 16,809.65.

On the Sensex pack, Tata Steel was the top loser of the day followed by Housing Development Finance Corporation (HDFC), State Bank of India (SBI), ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Maruti Suzuki India, larsen & Toubro (L&T), Axis Bank and Bharti Airtel. Tata Consultancy Services (TCS) was the only gainer of the day, rising over 1 per cent.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, oil prices, gold, silver prices, commodity market and money markets live updates:

16:27 (IST)14 Feb 2022
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services

"Increased tension between the US and Russia over Ukraine sent oil prices rising and forced investors to dump risky assets. Risk sentiment was further dampened ahead of the Fed’s emergency meeting which heightened fears of aggressive monetary tightening. On the domestic front, the annual WPI inflation eased marginally to 12.96% in January from 13.56% in December, but still high, amid moderation in the fuel and power prices"

15:57 (IST)14 Feb 2022
Equity markets at close

The S&P BSE Sensex ended at 56,405.84, down 1,747.08 points or 3.00 per cent, while the Nifty 50 settled at 16,842.80, down 531.95 points or 3.06 per cent.

15:15 (IST)14 Feb 2022
MARKET QUOTE | Mohit Ralhan, Managing Partner at TIW Captial Group

"The volatility has gone up with the increase in uncertainty over tensions between Russia and Ukraine. The market is under downward pressure due to the looming threat of war. It is likely to have a short-term impact since the risk of actual elongated war between two nuclear powers is quite limited. It is expected that the tensions will get dissipated through geopolitical manoeuvres over next few weeks, but market volatility will be high during this period."

15:06 (IST)14 Feb 2022
WPI data reaction | DRE Reddy, CEO and Managing Partner at CRCL LLP

"The WPI inflation data for the month of January eases at 12.96% even though the inflation in food spiked to 10.33% in January 2022 from 9.56% in December 2021. The vegetable price rise rate jumped to 38.45% against 31.56% in the previous month. It is also understood that the growing rate of inflation is primarily due to the rise in prices of mineral oils, crude petroleum, natural gas etc as compared to the corresponding month of the previous year. It can be expected that wholesale inflation is to weaken as we move ahead considering the sentiments of careful optimism. The recent MPC announcement chose to maintain the repo rate at 4 percent for the 10th time in a row was purely to support growth as well as manage the inflationary pressures. Moving forward, as the crude prices soften in the summer season and supply issues get resolved will help ease WPI inflation in the next few months"

12:29 (IST)14 Feb 2022
India’s WPI inflation eases to 12.96% in January: Govt data

The wholesale inflation across the country rose to 12.96 per cent in January, data released by the Ministry of Commerce & Industry showed.

The wholesale price index (WPI) grew 13.56 per cent during the month of December 2021, while the WPI for November last year was revised to 14.87 per cent from 14.23 per cent, the data showed. The WPI in January 2021 was at 2.51 per cent. Click here to read

12:07 (IST)14 Feb 2022
JUST IN | India's wholesale inflation in January stands at 12.96%

The wholesale inflation or WPI for January comes in at 12.96 per cent vs 13.56 per cent in December 2021

11:05 (IST)14 Feb 2022
Motilal Oswal Financial Services on Reliance Industries

"We value RIL’s standalone segment at 7.5x, telecom at 17x FY24E, and retail at 31x FY24E EV/EBITDA. With a target price of INR2,800, we reiterate our BUY rating on the stock. While it is difficult to value the recent foray into renewables as well as the future foray into chemicals, the current valuation multiple of the standalone business may see an upward revision going forward. Key risks to our rating could be technology risks associated with the new age renewables, high capex as well as similar large-scale announcements by other global players."

10:22 (IST)14 Feb 2022
Rupee in early trade

Rupee slumps 20 paise to 75.56 against US dollar in early trade.

(PTI)

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10:20 (IST)14 Feb 2022
Oil prices jump more than 1% to 7-year highs on supply jitters

Oil prices on Monday hit their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from the world's top producer in an already tight market.

Brent crude futures was at $95.56 a barrel by 0235 GMT, up $1.12, or 1.2%, after earlier hitting a peak of $96.16, the highest since October 2014. U.S. West Texas Intermediate (WTI) crude rose $1.28, or 1.4%, to $94.38 a barrel, hovering near a session-high of $94.94, the loftiest since September 2014.

Comments from the United States about an imminent attack by Russia on Ukraine have rattled global financial markets.

(Reuters)

10:18 (IST)14 Feb 2022
YES Securities on Computer Age Management Services

-Revenue yield remained flat sequentially as rise in share of equity in AUM offset the negative impact of telescopic pricing: The share of equity in AUM serviced now stands at 41%. Yield has, in fact, been broadly flat for 7-8 quarters now.

-EBITDA margin positively surprised but management was sombre in their guidance: EBITDA margin has been better than expected driven by better cost management 
through automation. Management stated that they continue to hold their prior guidance of EBITDA margin being in the early 40s in the favourable quarters.

-Non-MF initiatives moved closer to meaningful on-ground traction: The CRA business and the AA business both displayed underlying traction, providing hope.

-We maintain ‘Buy’ rating on CAMS with a revised price target of Rs 3396: We value CAMS at 50x FY23 P/E for an FY21-24E EPS CAGR of 23%.

10:14 (IST)14 Feb 2022
YES Securities on Apollo Hospitals

"Apollo Hospitals ARPOB continue to gain traction with 14% increase on a blended basis in 9m FY22; a look at the ARPOB increase within some of the clusters (accounting for ~40% of cumulative operating beds) shows even faster increase on a 2-year CAGR basis at 15-19% (without international traffic in 9m FY22 carrying better embedded realization in the historical base). This shows the impact of mix change in the hospitals business over last 18 months as footfalls would have been volatile given the episodic impact of pandemic. While customer acquisition cost in the 24x7 business is likely to stay in a range in the near term, continued intensity in the online model would entail likely higher discounts. Capex of Rs15bn shows the need to augment volume growth as ARPOB can only drive so much, albeit no near term impact is seen in our forecast horizon. Retain SELL with unchanged multiple and TP Rs3,050."

09:57 (IST)14 Feb 2022
MARKET QUOTE | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Sentiments have turned very negative for the short-term with the heightened tension over the Ukraine crisis. Weakness in global markets is the direct fallout of the Ukraine crisis. Crude at an eight year high is another major macro concern for India. If crude remains at levels of $95 for an extended period of time, the RBI will be forced to revise upwards its 4.5% CPI inflation projection for FY23. Continuation of the accommodative monetary stance too will be difficult. While all these are negatives, diffusion of the Ukraine crisis  can trigger a sharp rebound in markets led by large-cap bluechips"

09:55 (IST)14 Feb 2022
LIC files papers, set for biggest Indian IPO ever

Life Insurance Corporation of India (LIC) has filed its draft share sale prospectus with the capital markets regulator SEBI, paving the way for India’s largest initial public offering (IPO). There is also a possibility that LIC will become India’s most valuable listed company, toppling Reliance Industries Ltd, after listing on the stock exchanges.

LIC plans to sell 316.25 million shares, which is about 5 per cent of its total equity base, said the draft red herring prospectus filed with SEBI (Securities and Exchange Board of India). CLICK HERE to read

09:43 (IST)14 Feb 2022
Global market update

Asian shares sagged on Monday as warnings that Russia could invade Ukraine at any time sent oil prices to seven-year peaks, boosted bonds and belted the euro.

The United States on Sunday said Russia might create a surprise pretext for an attack, as it reaffirmed a pledge to defend "every inch" of NATO territory.

The cautious mood saw MSCI's broadest index of Asia-Pacific shares outside Japan drop 1.2%. Japan's Nikkei lost 2.6%, while Chinese blue chips fell 0.6%.

S&P 500 futures were down a fraction and Nasdaq futures eased 0.1% after steep losses on Friday. EUROSTOXX 50 futures shed 1.8% and FTSE futures 0.7%.

(Reuters)

09:41 (IST)14 Feb 2022
Equity market in early trade

Sensex crashes over 1,500 pts to slip below 57,000 in early trade; Nifty dives over 450 pts to sub-17,000 level.

(PTI)

The topline equity indices on the BSE and National Stock Exchange (NSE) snapped out of their three-day winning streak and ended 1.31 per cent lower on Friday weighed by information technology (IT) and financial stocks amid a weak trend in global markets.

The S&P BSE Sensex crashed 773.11 points (1.31 per cent) to settle at 58,152.92 while the Nifty 50 fell 231.10 points (1.31 per cent) to end at 17,374.75.

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First published on: 14-02-2022 at 09:35:55 am
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