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Thursday, January 27, 2022

Market Highlights: Indices snap 4-day winning streak; Sensex slips 621 points, Nifty ends below 17,750-mark

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 59,601.84, down 621.31 points (1.03 per cent), while the Nifty 50 settled at 17,745.90, down 179.35 points (1.00 per cent).

By: Express Web Desk | New Delhi |
Updated: January 6, 2022 4:52:31 pm
Share Trading at a firm in Kolkata. (Express photo by Partha Paul)

Share/Stock Highlights: The frontline indices on the BSE and National Stock Exchange (NSE) snapped out of a four-day winning streak and ended around 1 per cent lower on Thursday amid weak global cues following a hawkish stance by the US Federal Reserve and sharp spike in daily Covid cases in the country.

The S&P BSE Sensex crashed 621.31 points (1.03 per cent) to end below the 60,000-mark at 59,601.84 while the Nifty 50 fell 179.35 points (1.00 per cent) to settle at 17,745.90. Earlier in the day, the indices had begun on a negative note and slipped over 1.5 per cent with the Sensex hitting an intraday low of 59,290.58 and the Nifty slipping to 17,655.55.

On the Sensex, Tech Mahindra, Ultratech Cement, Reliance Industries (RIL), HCL Technologies, Housing Development and Finance Corporation (HDFC) and HDFC Bank were the biggest laggards of the day. On the other hand, IndusInd Bank, Bharti Airtel, Maruti Suzuki India, Bajaj Finance, Titan Company and Axis Bank were the top gainers.

Among sectoral indices on NSE, the Nifty IT index fell 1.55 per cent weighed by Tech Mahindra and HCL Technologies. Likewise, the Nifty Realty index slipped 1.47 per cent dragged by Brigade Enterprises and Macrotech Developers. On the other hand, the Nifty Auto index rose 0.53 per cent driven by gains in Bharat Forge and Bajaj Auto.

(with inputs from agencies)

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

16:15 (IST)06 Jan 2022
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services

"Following a sharp fall in western markets, the domestic market witnessed a gap-down opening and extended its losses led by selling in IT, realty and oil & gas shares. Global markets were wounded by heavy selling as Fed meeting minutes pointed to a faster than expected policy rate hike considering elevated US inflation levels. Investors are also watching the fast spread of covid cases and stricter restrictions being imposed as it would keep the market highly volatile in the coming days."

15:51 (IST)06 Jan 2022
Equity markets at close

The S&P BSE Sensex ended at 59,601.84, down 621.31 points or 1.03 per cent, while the Nifty 50 settled at 17,745.90, down 179.35 points or 1.00 per cent.

15:22 (IST)06 Jan 2022
Reliance raises $4 billion in India’s largest-ever foreign currency bonds issue

Reliance Industries Ltd, the nation’s most valuable company, on Thursday said it has raised USD 4 billion debt in the largest ever foreign currency bonds issuance from India.

The oil-to-telecom conglomerate raised the money in foreign currency denominated bonds and plans to use the proceeds to retire existing borrowings. Click here to read

13:31 (IST)06 Jan 2022
World’s biggest oil hedge could shrink if Mexico curbs exports

Mexico’s plan to halt crude exports by 2023 could curb the size of its giant oil hedge and help boost longer-dated prices.

Each year, Mexico participates in one of the biggest and most secretive deals in the oil market, locking in prices of its net exports. The trade effectively makes the Mexican finance ministry one of the biggest sellers of oil contracts for 12 months ahead. Click here to read

11:05 (IST)06 Jan 2022
Rupee falls 6 paise to 74.44 against US dollar in early trade

The rupee declined by 6 paise to 74.44 against the US dollar in opening trade on Thursday, tracking the strength of the American currency in the overseas market after hawkish US Fed minutes.

Investors saw minutes from the Federal Reserve meeting as a sign that the US central bank might hike interest rates faster to cool inflation and this could lead to outflows from the domestic markets, forex traders said.

According to minutes from the Fed's December 14-15 policy meeting, policymakers believe the US job market is nearly healthy enough and ultra-low interest rates are no longer needed.

At the interbank foreign exchange, the rupee opened at 74.44 against the US dollar, registering a decline of 6 paise from the last close. The domestic unit also witnessed a high of 74.34 in initial deals. On Wednesday, the rupee surged 20 paise to close at 74.38 against the US currency.


10:49 (IST)06 Jan 2022
Sebi chairman bats for safeguarding retail investors

The chairman of the Securities and Exchange Board of India (Sebi), Ajay Tyagi on Wednesday said the retail investor participation in the capital market has increased significantly with the number of new demat accounts increasing from 4 lakh per month in 2019-20 to 29 lakh per month in November 2021 and the regulator and market infrastructure institutions should ensure that these investors keep trust in the capital markets.

“Increased investors participation in domestic markets is an extremely encouraging sign for the growth of capital markets in India. It is for the regulator and the market infrastructure institutions, market intermediaries and other stakeholders to ensure the investors keep trust and faith in the market. Click here to read

10:05 (IST)06 Jan 2022
Global market update

Asian stock markets followed Wall Street lower on Thursday after investors saw minutes from a Federal Reserve meeting as a sign the US central bank might hike interest rates faster to cool inflation.

Shanghai, Tokyo, Hong Kong and Sydney retreated. Oil prices fell.

On Wednesday, Wall Street's benchmark S&P 500 index fell by its biggest daily margin in four months.

Notes released Thursday from the Fed meeting last month showed policymakers believe the US job market is nearly healthy enough that ultra-low interest rates are no longer needed.

Traders took that as a sign the Fed might be more aggressive about rolling back stimulus that is boosting stock prices.

The Shanghai Composite Index slid 0.7% to 3,571.18 and the Nikkei 225 in Tokyo tumbled 2.1% to 28,721.49. The Hang Seng in Hong Kong lost 0.6% to 22,774.93.

The Kospi in Seoul retreated 0.4% to 2,942.54 and Sydney's S&P-ASX 200 sank 1.5% to 7,449.80. New Zealand and Jakarta declined while Singapore and Bangkok gained.


09:58 (IST)06 Jan 2022
Equity market at early trade

At 9:47 am, the S&P BSE Sensex crashed 703.81 points (1.17 per cent) to 59,519.34 while the Nifty 50 fell 198.40 points (1.11 per cent) to 17,726.85.

The benchmark indices on the BSE and National Stock Exchange (NSE) extended their positive momentum and ended over 0.6 per cent higher on Wednesday aided by gains in banking and financial stocks.

The S&P BSE Sensex gained 367.22 points (0.61 per cent) to reclaim the 60,000 mark and end at 60,223.15 while the Nifty 50 rose 120.00 points (0.67 per cent) to settle above the 17,900 mark at 17,925.25.

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