Sensex falls 884 pts from day's high, ends 77 pts down; Nifty holds 17,100

For the week, the Sensex and the Nifty indices are down 3% each

Closing Bell

Benchmark indices ended a week of extreme volatility marginally in the red note on Friday, following the US Federal Reserve's monetary policy meeting.

The S&P BSE Sensex index had started gap-up and had extended its rally to hit a high of 58,084-mark, up 807 points intra-day. However, a sharp sell-off in the last hour of trade dragged the index in the negative zone, settling 77 points, or 0.13 per cent, lower at 57,200. 

The Nifty50 shut shop at 17,102, down 8 points or 0.05 per cent. It was 271 points lower from its intra-day high of 17,373.

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The indices' breadth was slightly skewed towards buyers as 14 of the 30 constituents on the Sensex and 19 of the 50 constituents on the Nifty ended in the red. The losses were led by Maruti Suzuki, Tech M, Power Grid, Hero MotoCorp, ICICI Bank, Axis Bank, SBI, and Bajaj Finserv. All these stocks were down in the range of 1 to 3 per cent.

On the upside, NTPC, UPL, ONGC, Sun Pharma, IndusInd Bank, Tata Consumer Products, and ITC gained up to 4 per cent to end as top performers.

For the week, the frontline indices are down 3% each.

In the broader markets, the BSE MidCap and SmallCap indices bucked the trend and ended 1 per cent higher each with LIC Housing Finance, Castrol India, Apollo Hospitals, Mindtree, Sun TV, Orient Bell, and HT Media rallying up to 18.5 per cent. 

Kriti Industries, Mahindra Logistics, HG Infra, TVS Motor, RBL Bank, and IDBI Capital were the worst hit stocks from the space, down between 3 and 13 per cent. 

Among sectors, financials and autos were the only losers today. The Nifty Bank index slipped 0.7 per cent while the Nifty Auto index dropped 0.6 per cent.

On the contrary, the Nifty IT, Pharma, and Realty indices gained around 1 per cent each. 

Global markets

European markets pulled back on Friday with the pan-European Stoxx 600 index down 0.9 per cent, while the UK's FTSE100 index, Germany's DAX, and France's CAC40 indices falling 0.9 per cent, 1.3 per cent, and 0.9 per cent, respectively.

On the contrary, stock futures linked to US equities rose early Friday, boosted by a jump in Apple shares, as Wall Street looks to wrap up a roller-coaster week on a high note. Futures on the Dow Jones Industrial Average gained about 162 points, or 0.48 per cent. S&P 500 futures climbed 0.51 per cent and Nasdaq 100 futures jumped about 1 per cent as at 3:30 PM.

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices erased entire day's gains, and slipped into red for a brief moment as investors preferred to lighten positions ahead of the weekend and the upcoming Union Budget.

The BSE Sensex touched a low of 57,197 - down 887 points from the day's high, and was up 126 points at 57,403. The NSE Nifty was up 62 points at 17,172.

Maruti Suzuki was the top loser, down over 2 per cent. Tech Mahindra, PowerGrid Corporation and ICICI Bank were the other notable losers.



On the positive front, NTPC had pared gains but was still up over 4 per cent. IndusInd Bank, Sun Pharma, Wipro and Mahindra & Mahindra were the other prominent gainers, up around 2 per cent each.

The broader indices were also off the day's high, but still held smart gains. The BSE Midcap and Smallcap indices were up 1.8 per cent each.

Among sectoral indices, the BSE Realty index surged nearly 2 per cent. The IT, Metal, Oil & Gas, Telecom and Healthcare indices were up around a per cent each, while the Bankex slipped 0.5 per cent.

Elsewhere in Europe, the major markets started trade on a negative note. The FTSE 100 and CAC 40 were down 0.6 per cent each, and the DAX 30 declined 1.3 per cent.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices were seen consolidating gains in noon deals on the back steady gains in select index heavyweights.

The BSE Sensex touched a high of 58,084, and was up 684 points at 57,961. The NSE Nifty gained 226 points at 17,336.

NTPC remains the top gainer, up over 5 per cent a day ahead of its Q3 earnings. IndusInd Bank, Tata Steel, Wipro, Sun Pharma, Mahindra & Mahindra, Bajaj Finance, Titan and HDFC were the other significant gainers, up 2-3 per cent each.

The broader indices were outperforming the benchmark indices by a wide margin. The BSE Midcap and Smallcap indices rallied around 2.5 per cent each as against a 1.1 per cent gain on the Sensex.

The overall breadth was also extremely positive with more than three advancing shares versus every declining stock on the BSE so far.

In the broader markets, JSW Steel Holdings zoomed 16 per cent. LIC Housing Finance, Tirumalia Chemicals, Kirloskar Ferrous, Nava Bharat Ventures, Route Mobile, GMDC, CoForge, Can Fin Homes, Maharashtra Seamless, Hikal, Arvind, Bombay Dyeing, Mindtree, MRPL, Dynacons Systems Solutions, Orient Bell, Salasar Technologies, Orbit Express, GIC Housing Finance, Summit Securities, Gujarat Sidhi Cement, Sarla Performance, PolicyBazaar (up 10 per cent), HT Media, Lotus Eye Hospital, Kitex Garments, 20 Microns and Bhartiya International were the top gainers in trade so far.

On the flip side, Mahindra Logistics, Kirti Industries, MapmyIndia, Thangamayil Jewellery, HG Infra Engineering, Vaibhav Global, Finolex Industries, Motilal Oswal Financial Services, Swaraj Engines, TVS Motor, Sharda Corpchem, Premier Explosives, Jet Frieght Logistics, Signet Industries, Hindusthan National Glass and Butterfly Gandhimathi were the major losers.
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Markets at 12 noon

LIVE market updates: The frontline indices were firm in noon deals amid positive cues from global peers. The BSE Sensex was up 713 points at 57,990 and the NSE Nifty was 233 points higher at 17,343. The two indices were higher up to 1.4 per cent. 

Meanwhile, the broader markets were outperforming the benchmarks. The BSE MidCap index was up 2.7 per cent and the SmallCap index was 2.45 per cent higher. Among MidCaps, Sona BLW Precision, Mindtree, Jubilant Food, Apollo Hospital, Mphasis, SRF, Page Industries, Max Financial Services, IRCTC, M&M Finance, Vodafone Idea, Godrej Properties, Sun TV, Concor, Union Bank, Castrol India, and Jindal Steel were the top gainers. 
 

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This apart, of the 30-sensex shares, 27 continued to trade in the green zone, while the top gainers on BSE included LIC Housing Finance, JSW Holdings, Kirloskar Ferrous, Can Fin Homes and GMDC, up between 10-13 per cent. 

The share price of LIC Housing Finance was surging after the company posted strong Q3 results. Its net profit rose 6 per cent year-on-year to Rs 767.33 crore in the third quarter, while its net interest income (NII) rose 14 per cent to Rs 1,455 crore. 

Sectorally, BSE PSU, CPSE, IT, Healthcare and Realty indices were the top gainers, up over 2 per cent each. 

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Among stocks, shares of cement maker Dalmia Bharat were up 5.6 per cent on the BSE despite the company announcing muted Q3 earnings. On Tursday, it posted a consolidated net profit of Rs 103 crore, down around 44 per cent year-on-year. The consolidated revenue from operations was at Rs 2,731 crore down 0.2 per cent year-on-year. 

Elsewhere in Asia, markets were mixed on Friday, following a volatile session on Wall Street the night before where investors reacted to comments from the Federal Reserve and US GDP data. The Nikkei 225 in Japan gained around 2 per cent after falling nearly 3 per cent on Thursday, while the Topix was up 1.8 per cent. South Korea’s Kospi also rose 1.9 per cent. Whereas, Hong Kong's Hang Seng index was down 0.8 per cent. Shanghai composite shed 1 per cent, and Shenzhen component fell 0.5 per cent. 

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Markets at 11 AM

LIVE market updates: The frontline indices were steadily holding gains in the morning. The BSE Sensex was 622 points higher at 57,899, while the NSE Nifty was up 216 points at 17,326. Gains in IT giants Infosys, TCS, home lender HDFC, Bajaj Finance and Reliance were supporting the momentum. 

Meanwhile, Maruti (down 1.4 per cent), PowerGrid (0.5 per cent) and HUL (down 0.1 per cent) were the sole losers on the Sensex. Among gainers, Dr Reddy's, L&T and Kotak Bank were also firmly higher, up over 1 per cent each ahead of their Q3 earnings.

Among sectors, the IT index was among the biggest gainer along with Realty, Metals, Auto, FMCG, Consumer Durables and Oil & Gas. Strong Q3 earnings of Birlasoft and Coforge were supporting the IT pack. The two were trading 3 per cent and 7.5 per cent higher, respectively, on the BSE. 

In the primary market, the IPO of Adani Wilmar had been subscribed 70 per cent so far on day 2 of its subscription period. The retail investor portion was fully subscribed at 1.22 times. The NII and QIB categories had been subscribed 60 and 30 per cent, respectively. 

Individually, shares of Oil and Natural Gas Corporation (ONGC) rallied 5.5 per cent, and registered a 32-month high at Rs 174.65 on the BSE on improved outlook due to rising oil prices as Brent crude, the global benchmark, touched 90 dollars a barrel for the first time in seven years. READ MORE.

On the other hand, shares of C E Info Systems (MapmyIndia) hit a record low of Rs 1,271.65, on slipping 11 per cent on the BSE after the company reported a 14 per cent year-on-year (YoY) decline in its consolidated profit at Rs 18.52 crore in December quarter (Q3FY22). READ MORE.
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Markets at 10 AM

LIVE market updates: The key benchmark indices were seen extending their opening gains in early morning trade. The BSE Sensex was up 753 points at 58020, while the NSE Nifty was 242 points higher at 17,352. The two indices were higher up to 1.3 per cent. 

The strong pull-back has come with a positive start to the February F&O series and after a global sell-off due to rate hike fears by the US Federal Reserve. However, the markets are now appearing to recover from these shocks. 

On the Sensex, M&M, NTPC, Tata Steel, Bajaj finance, Wipro, Sun Pharma, Infosys, IndusInd Bank and Bajaj Finserv were the top gainers, all up 2 per cent. ONGC (up 5 per cent) was the top Nifty gainer, followed by Eicher Motors and IOC. Top losers, meanwhile, included SBI, Maruti, PowerGrid. 

Sectorally, all Nifty indices continued to trade in green led by gains in Nifty Realty (up 3 per cent), Metals, IT, Healthcare, Oil & Gas (up 2 per cent each) and Auto (up 1.5 per cent).

On the BSE, the PSU index was up 1.7 per cent with the Union Budget to be announced on Tuesday. MMTC, Mangalore Refinery, ONGC, BEML, NLC India, Hindustan Petroleum, NTPC, IRCTC and Concor were the leading state-run units on the index.  

Among stocks, shares of Bharti Airtel rallied 6 per cent to Rs 752.80 on the BSE after the company said its board has approved raising funds to the tune of Rs 5,224 crore by issuing shares to Google on preferential issue basis. The telecom services provider will issue 71.18 million equity shares at price of Rs 734 per share. READ MORE HERE.
 

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Opening Bell

LIVE market updates: The benchmark indices opened fairly positive on Friday after being volatile throughout the week amid a global sell-off. The BSE Sensex was up 500 points at 57,774, while the NSE Nifty was at 17,258 higher by 148 points.

Among the Sensex-30 shares, NTPC, Tata Steel, Sun Pharma, Bharti Airtel, Titan, Wipro, Bajaj Finance, IndusInd Bank, M&M and Asian Paints were the top gainers, up between 1-3 per cent. ONGC, Tata Consumer and IOC were the additional gainers on the Nifty. On the flip side, HDFC twins and Maruti were the only losers on the bourses. 
 

In the broader markets, the BSE MidCap and SmallCap indices were also in the green zone, up over 1 per cent each, respectively. 

Sectorally, all Nifty indices were trading higher with the Nifty Realty, IT, Metal, Auto, Oil & Gas PSU Bank and Pharma indices being top gainers, up 1-1.9 per cent. 

Among stocks, shares of Route Mobile were trading over 12 per cent higher on the BSE after the company posted strong Q3 numbers. The company on Thursday posted 28.33 per cent rise in consolidated profit at Rs 48.27 crore for the December quarter. It also announced an interim dividend of Rs 3 per share.

On the flip side, RBL Bank was down 3 per cent on the exchange as investors seemed unimpressed with its Q3 performance. The bank reported a Net Interest Income of Rs 1,010 crore, a 10.4 percent quarter-on-quarter increase and an 11 percent year-on-year increase.The bank's operating profit dropped 9 percent QoQ, to Rs 631 crore. 
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Pre-open session

LIVE market updates: The benchmark indices were seen firmly positive in the pre-open trades hinting at a higher start. The BSE Sensex was up 333 points at 57,610, while the NSE Nifty was at 17,193, higher by 83 points. 
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LIVE market updates: The key benchmark indices may start trade on a flat note on Friday as indicated by SGX Nifty futures, which were around 17,185 level at 8.40 am, indicating an opening gain of 30-odd points. With the Union Budget next week, investors may want to tread cautiously amid global uncertainty and hawkish mood.

Telecom stocks are likely to be in focus as the DoT has agreed with the telecom players' plea to not proceed with the process of adopting 5Gi as a national standard. READ MORE

That apart, Dr Reddy's, L&T, AU Small Finance Bank, Bharat Electronics, Crompton Greaves, Dixon Technologies, Kotak Bank and Marico may also be in the limelight ahead of Q3 earnings today. READ MORE.

In the primary market, Adani Wilmar IPO so far has been subscribed 57 per cent. According to the exchange data, the institutional investor portion was subscribed 30 per cent, HNIs 54 per cent and 96 per cent.

Global cues

The US markets witnessed a highly volatile session of trade on Thursday amid mixed news flow. On one hand, investors had to deal with the prospects of a hawkish Fed policy and geopolitical tensions, while on the other hand economic data indicated that US GDP grew at its fastest pace in four decades. The Dow Jones ended flat, while the S&P 500 slipped 0.5 per cent. Tech-laced Nasdaq was down another 1.4 per cent.

Brent Crude ended over the $90-mark for the first time in over seven years, it rose 0.2 per cent to $90.11 a barrel, and WTI Crude also added 0.2 per cent to $87.53 a barrel.

Major markets in Asia were mixed this morning. Japan’s Nikkei had rallied 1.9 per cent. Kospi advanced 0.6 per cent, and Straits Times was up 0.1 per cent. On the other hand, Hang Seng and Shanghai Composite were down 0.6 per cent and 0.5 per cent, respectively. Taiwan too was down 0.2 per cent.