Sensex falls 554 pts, Nifty below 18,150 amid rising bond yield, oil prices

Closing Bell

Equity markets turned sharply lower in the fag-end of the session as weak global cues gave ammunition to the bears on Dalal Street. The 10-year US Treasury yield jumped to its highest point in two years, topping 1.83 per cent. The yield on Indian 10-year bond, however, was down 0.2 per cent at 6.6 per cent. 

Nonetheless, the move indicates that global investors are preparing for the possibility of more aggressive tightening by the Federal Reserve.

Meanwhile, in the commodity market, international benchmark Brent crude futures rose 1.6 per cent to $87.89 a barrel, while US West Texas Intermediate futures jumped more than 2 per cent to hit $85.56. Both oil contracts notched their highest level since October 2014. 

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Against this backdrop, futures tied to the Dow Jones Industrial Average slipped by 292 points, or 0.81 per cent. S&P 500 futures fell 1.19 per cent, and Nasdaq 100 futures declined 2 per cent. In Europe, key indices fell over 1 per cent each.

Back home, the BSE Sensex index tumbled 554 points, or 0.9 per cent, to end the day at 60,755. The NSE Nifty50, on the other hand, closed at 18,113, down 195 points or 1 per cent. 

In the intra-day trade, the indices hit a low of 60,662 and 18,086, respectively.

Only 7 Sensex constituents -- Axis Bank, HDFC Bank, ICICI Bank, Dr Reddy's Labs, Kotak Bank, Titan Company, and Nestle India -- managed to end in the green. Losses, on the other hand, were led by Maruti Suzuki (down 4 per cent), Ultratech Cement, Tech M, HCL Tech, Tata Steel, and IndusInd Bank.

In the broader market, the BSE MidCap and SmallCap indices fell 2 per cent each.

All key sectoral indices, led by Nifty Realty (down 2.4 per cent), and Auto and Metal indices (down 2 per cent each), ended in the red.

Overall, sellers outnumbered buyers in the ratio of 2:1 with over 2,250 stocks ending in the red on the BSE as against 1,150 stocks in the green. 

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices slipped back into the negative zone as global cues turned bearish.

The BSE Sensex was down 232 points at 61,077, and the NSE Nifty 50 index had declined 94 points at 18,214.



Elsewhere in Asia the major markets reversed course as the day progressed. Kospi was down 0.9 per cent, and Taiwan Weighted index had slipped 0.8 per cent. Japan's Nikkei and Hang Seng were down 0.3 per cent and 0.4 per cent, respectively, while Straits Times too slipped 0.2 per cent. China's Shanghai Composite index, however, gained 0.8 per cent.

The major markets in Europe were also notably in red. The FTSE 100, DAX 30 and CAC 40 were down 0.8 per cent, 1 per cent and 1.1 per cent, respectively. In US, the Dow futures were down 239 points, while Nasdaq shed plunged 247 points.

Back home, Maruti, Tech Mahindra and UltraTech Cement remained the major laggards among the Sensex 30 shares. HCL Technologies and Tata Steel too dropped over 2 per cent each. The private banks, however, managed to hold on the gains.

The broader markets too weakened notably. The BSE Midcap and Smallcap indices were down 1 per cent and 0.7 per cent, respectively. As many as 450 stocks had hit the respective upper circuit, while 274 stocks were locked at the lower circuit on the BSE.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices have bounced back in the positive zone led by smart gains in private banking shares.

The BSE Sensex, which, touched a low of 60,948, and was down more than 350 points at the lows of the day, had now gained 67 points at 61,376. It's counterpart NSE Nifty 50, however, was flat at 18,308.

Axis Bank was the top gainer among the private banks, up over 3 per cent. HDFC Bank, Kotak Bank and ICICI Bank were up 1-2 per cent each. Titan and Dr.Reddy's were the other notable gainers in the Sensex 30 space.

On the flip side, Maruti was down almost 3 per cent. Tech Mahindra and UltraTech Cement had slipped around 2.5 per cent each. HCL Technologies, Hindustan Unilever, Tata Steel, Larsen & Toubro and Bharti Airtel were the other porminent laggards.

The broader indices, however, remained in the negative zone. The BSE Midcap and Smallcap were down 0.6 per cent and 0.2 per cent, respectively. The overall breadth too was slightly negative, with 1,761 stocks on the declining side, while 1,587 shares advanced on the BSE.

In the broader markets, Infibeam, Hemisphere Properties, Shoppers Stop, Gati, Confidence Petroleum, Hindustan Oil Exploration, Lux Industries, Prestige Estates, Kalpatru Power, Reliance Power, HSIL, Gujarat Ambuja Exports, Brigade Enterprises, Jindal Saw, Yash Chemex, Shriram Properties, Precision Wires, Electrosteel Castings, PTC India and Khaitan Chemicals were some of the major gainers.

Wheras, Dilip Buildcon, Apollo Hospitals, Shakti Pumps, Trident, Sequent Scientific, HFCL, eClerx Services, Suzlon, Deepak Fertilisers, Tata Steel Long Products, Tejas Networks, Metropolis Healthcare, The Anup Engineering, Hindusthan National Glass, Tatva Chintan Pharma, SPL Industries, Biofil Chemicals, Deep Polymers, ANG Lifesciences and DCM Nouvelle were some of the major losers.
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Markets at noon

LIVE market updates: The benchmark indices continued to hold losses in noon deals amid weak market sentiment. The BSE Sensex was down 150 points at 61,158, and the NSE Nifty was at 18,250, lower by 57 points. 

In the broader market, the BSE MidCap index was slighlty underperforming the benchmarks and was 0.5 per cent lower. The BSE SmallCap index, meanwhile, was down 0.2 per cent.

Among midcaps, Cholamandalam Investment and Finance was the top gainer, up 3 per cent on the back of its plan to acquire 72.12 per cent stake in fintech payment solutions provider Payswiff Technologies for Rs 450 crore.

ALSO READ: Pre-Budget rally possible! Sensex, Nifty may hit new highs, charts suggest

Other midcap gainers included ABB India, HAL, Aditya Birla Fashion,Max Financial Services, Colgate-Palmolive, Macrotech Developers, AU Small Finance Bank, Sona BLW and Mahindra & Mahindra Financial Services, up between 1-2.5 per cent.

That apart, shares of Tech Mahindra slipped 2 per cent to Rs 1,686.35 on the BSE after the company announced acquisition of 100 per cent stake in Europe-based Com Tec Co IT (CTC) and 25 per cent stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore). READ HERE TO KNOW MORE.

Further, shares of HSIL hit a new high of Rs 288.70, up 8 per cent in Tuesday’s intra-day trade. The stock has rallied 24 per cent in two days on the BSE after the company announced divesting its building products division for Rs 630 crore. READ MORE.

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Markets at 11 AM

LIVE market updates: The frontline indices were steady holding their losses amid broad-based selling. The BSE Sensex was down 214 points at 61,094, while the NSE Nifty was at 18,237, lower by 70 points. 

Maruti, Ultratech Cement, Tech M, HCL Tech, Bharti Airtel and Tata Steel were the leading losers on the Sensex and were trading 1-2.6 per cent lower. Some banking counters such as Axis Bank, ICICI Bank, HDFC Bank, Kotak Bank, along with Bajaj Finance, Titan and PowerGrid were the only gainers among the 30-share pack. 

Among sectors too, barring Bank, Financials and Realty indices, all others were trading in the red zone on the NSE.

The broader indices on the index were all in the negative territory, led by Nifty SmallCap 100 index, down 0.6 per cent. The BSE MidCap and SmallCap indices were also 0.6 and 0.3 per cent lower, respectively.

The volatility index on the NSE was up nearly 3 per cent, indicating jittery investor sentiment.

Among stocks, shares of  Indraprastha Gas (IGL) hit a fresh 52-week low at Rs 453.75 and the stock was down 2 per cent in past the two trading days on the BSE amid concerns of aggressive influx of electric vehicles (EVs) into Delhi. READ MORE.

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Markets at 10 AM

LIVE market updates: The benchmark indices were seen coming under selling pressure in early morning deals after a positive start. The BSE Sensex was 290 points lower at 61,017 and the NSE Nifty was down by 94 points at 18,213. The two indices were down by up to 0.5 per cent. 

On the Sensex, only 8 stocks were now in green, as investors booked profits in others. Losses in RIL, Infosys, HDFC, down ( down 0.7 per cent each, Maruti (down 3 per cent), and Ultratech Cement (down 2 per cent) contributed maximum to the index's losses. On the Nifty, Eicher Motors, UPL, Tata Consumer, Divis's Lab and Grasim  were the additional losers. 

The broader markets, too, were muted in line with the benchmarks. The BSE MidCap and SmallCap indices were now up to 0.6 per cent lower. 

Among sectors, losses were being led by auto-pack, down 1 per cent on the NSE, followed by healthcare, IT, FMCG. 

On the flip side, the Nifty Realty index was bucking the overall trend and was up 0.7 per cent. From the lot, shares of Prestige Estates Projects hit a record high at Rs 553.40, on rallying 8 per cent on the BSE after the real estate company said it registered highest ever quarterly sales of Rs 4,267 crore, up 111 per cent year on year (YoY) during October-December quarter (Q3FY22). READ MORE.

That apart, shares of Cholamandalam Investment and Finance Company were up nearly 2 per cent on the BSE after the NBFC on Monday said it plans to acquire 72.12 per cent stake in fintech payment solutions provider Payswiff Technologies Private for Rs 450 crore.
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Opening Bell

LIVE market updates: The key benchmark indices started trade on a positive note after being rangebound in the last two sessions. The BSE Sensex was up 120 points at 61,429, while the NSE Nifty was at 18,334, higher by 26 points.

Among the Sensex-30 shares, Tech Mahindra, Sun Pharma, ITC, Bajaj twins, PowerGrid, Titan, HDFC Bank, and Axis Bank were the top gainers, up between 0.5-1.3 per cent. Ultratech Cement, Tata Steel, Maruti and Asian Paints, meanwhile, were the top losers, down between 0.4-2.3 per cent. 

In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up 0.5 and 0.4 per cent, respectively. 

Sectorally, Realty index on the NSE was the top gainer, up over 1 per cent, private banks, pharma and energy stocks were the other gainers, while auto and metals were the top losers. 

Among stocks, Bajaj Finance was trading 1 per cent higher ahead of its Q3 earnings today. On the flip side, Ultratech Cement was down over 2 per cent after the company reported its Q3 numbers on Monday. 

The market did not seem impressed with the December quarter earnings of chemical company Tatva Chintan Pharma, which was down 7 per cent on the BSE. Metro Brands, meanwhile, was up nearly 10 per cent extending strong gains made in its previous session on the back of Q3 results. 

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Pre-open session

LIVE market updates: The benchmark indices were seen holding gains in pre-open trades on Tuesday. The BSE Sensex was up 257 points at 61,566, and the NSE Nifty was at 18,372, higher by 63 points. 

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LIVE market updates: The key benchmark indices are likely to start on a flattish note taking cues from their Asian counterparts, as the US markets were shut for trade on Monday. As of 07:50 AM, the SGX Nifty futures were quoting 18,326 levels, down 14 points compared to Nifty's previous close.

The market action is largely focussed around Q3 earnings of companies for now. The RBI, meanwhile, on Monday said that the omicron-led third wave of Covid-19 may turn out to be “more of a flash flood than a wave”, and the Indian economy could rebound to pre-pandemic levels. 
 

Meanwhile, among individual stocks today, Bajaj Finance, ICICI Prudential Life Insurance, Just Dial, LT Technology Services, and Tata Elxsi may remain in focus as these companies announce the December quarter results.READ MORE.

Further, Tech Mahindra too will be on radar as its board has approved a proposal to acquire 100% stake in Com Tec Co IT & an investment for a minority stake of 25% each in SWFT Technologies & Surance.
 

Manappuram Finance may also be eyed as its board has approved raising up to Rs 800 crores via NCDs. 

In an other significant development, SoftBank-backed Oyo is reportedly targetting a valuation of about $9 billion in its initial public offering after preliminary conversations with potential investors. READ MORE.
 

Global cues

The major markets in Asia this morning were marginally positive. Nikkei and Shanghai had advanced 0.6 per cent each. Hang Seng, Straits Times and Kospi were up .2 per cent each. Taiwan, however, was down 0.1 per cent.

Meanwhile, oil prices edged higher on Monday despite reports that China agreed to release oil reserves, and a marginal rise in Libyan oil output. Brent Crude added 0.5 per cent to $86.48 a barrel, and WTI Crude was up 0.6 per cent at $84.35 a barrel.