Share/Stock Market Highlights: The benchmark equity indices on BSE and National Stock Exchange (NSE) fell for the third straight day, ending over 1.4 per cent lower on Friday tracking a weak trend in global equities amid escalating tensions between Russia and Ukraine.
Read More
The S&P BSE Sensex fell 768.87 points (1.40 per cent) to settle at 54,333.81 while the Nifty 50 slipped 252.70 points (1.53 per cent) to end at 16,245.35. Both the indices had opened over 1 per cent lower and slipped further during the intraday trade with the Sensex slipping to 53,887.72 while the broader Nifty hit an intraday low of 16,133.80.
On the Sensex pack, Titan Company, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra (M&M) and Hindustan Unilever (HUL) were the biggest laggards on Friday tumbling up to 5.05 per cent. On the other hand, ITC, Dr. Reddy’s Laboratories, Tech Mahindra and UltraTech Cement were among the top gainers.
(with inputs from agencies) Read less
The topline equity indices fell for the second consecutive day slipping over 0.6 per cent on Thursday weighed by automobile, banking and financial stocks amid the geopolitical uncertainty.
The S&P BSE Sensex fell 366.22 points (0.66 per cent) to settle at 55,102.68 while the Nifty 50 slipped 107.90 points (0.65 per cent) to end at 16,498.05.
"Global bourses are witnessing a sharp sell-off as reports of Russian attack on Europe’s biggest nuclear plant in Ukraine kept tension levels elevated. Rising oil prices along with uncertainties on supply change disruption have instilled fears that inflation could cross RBI’s tolerance level, though temporarily. The domestic market, however, trimmed its losses as buying was witnessed in IT and Pharma stocks"
The S&P BSE Sensex ended at 54,333.81, down 768.87 points or 1.40 per cent, while the Nifty 50 settled at 16,245.35, down 252.70 points or 1.53 per cent.
Grounded carrier Jet Airways on Friday announced the appointment of Sanjiv Kapoor as the chief executive officer.
His appointment to the post comes days after the airline brought in former Sri Lankan Airlines CEO Vipula Gunatileka as the chief financial officer. CLICK HERE to read
Stock markets have taken a beating over the last 10 days following the Russian invasion of Ukraine. As oil prices continue to rise, the Sensex has lost 3.7% in the five trading sessions since February 24. This has raised concerns about the initial public offering (IPO) market, particularly upcoming IPOs, with 51 companies having received market regulator SEBI’s approval for their IPOs. While the IPO market witnessed a boom in 2021, investors need to be wary about upcoming issues, and should instead look at already listed companies that have good fundamentals. CLICK HERE to read
Investors' wealth tumbled by more than Rs 4 lakh crore in morning trade on Friday as markets suffered a steep decline.
Continuing its decline for the second day, the BSE gauge plummeted 1,148.05 points or 2 per cent to 53,954.63.
Tracking decline in equities, the market capitalisation of BSE-listed companies plunged Rs 4,09,554.44 crore to Rs 2,46,96,434.57 crore in morning deals.
(PTI)
JAYANTH VARMA, Member of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), who has been opposing the RBI’s accommodative policy stance, on Thursday said the “stance carries with it the risk of falling behind the curve in future because the stance limits the MPC’s freedom of action in ensuing meetings”. In a conversation with GEORGE MATHEW, Varma, Professor of finance and accounting, IIM Ahmedabad, said, “We should have our hands on the trigger, ready to act if the need arises… and policymakers must recognize that reality may not unfold according to their expectations.” CLICK HERE to read this exclusive interview
The rupee declined 11 paise to 76.05 against the US dollar in the opening trade on Friday, tracking the surge in international crude prices amid the intensifying Russia-Ukraine conflict.
Unabated foreign fund outflows and a weak trend in domestic equities also weighed on investor sentiment, forex traders said.
At the interbank foreign exchange, the rupee opened weak at 76.06 against the US dollar, then gained slightly to 76.05, registering a decline of 11 paise from the last close. On Thursday, the rupee had settled at 75.94 against the US dollar.
(PTI)
Oil prices rebounded on Friday as the disruption of Russian oil exports because of western sanctions outweighed the prospect of more Iranian supplies from a possible nuclear deal.
Brent crude futures for May rose to as much as $114.23 a barrel and were at $113.72, up $3.26, or 3% by 0121 GMT. The contract fell 2.2% on Thursday.
U.S. West Texas Intermediate for April rose $4.15, or 3.9%, to $111.82 a barrel after touching a high of $112.84 earlier in the session. The contract fell 2.6% in the previous session.
(Reuters)
Asian equity markets and the euro suffered heavy losses on Friday while oil prices jumped as investors took fright from reports of a nuclear power plant on fire amid fierce fighting between Ukraine and Russian troops.
The risk-off appetite battered markets across the region, sending U.S. stock futures also sharply lower, suggesting more pain for European and U.S. markets when they open later in the day.
MSCI's broadest index of Asia-Pacific shares ex-Japan tumbled as much as 1.6% to 585.5, the lowest level since November 2020, taking the year-to-date losses to 7%. It regained some losses but was still down 1.1%.
Stock markets across Asia were in a sea of red, with Japan losing 2.4%, South Korea 1.2%, China 0.9% and Hong Kong 2.5%. Commodities-heavy Australia was also not spared in the rout and shed 1%.
S&P 500 futures pared early losses but were still down 0.6% and Nasdaq futures gave up 0.8%. Overnight, Wall Street ended lower as investors remained on edge over the Ukraine crisis, while rising prices of commodities also weighed on market sentiment.
(Reuters)
Sensex tanks 851.99 points to 54,250.69 in opening trade; Nifty plunges 185.60 points to 16,312.45.
(PTI)