Sensex, Nifty end with deep cuts; VIX climbs 8.72%

The headline equity indices witnessed sharp sell-off on Friday. The Nifty closed below the 22,500 level after hitting the days high of 22,794.70 in early trade.

The barometer index, the S&P BSE Sensex tumbled 732.96 points or 0.98% to 73,878.15. The Nifty 50 index fell 172.35 points or 0.76% to 22,475.85. The Nifty 50 hit an all-time high of 22,794.70 during early trade.

In the broader market, the S&P BSE Mid-Cap index shed 0.21% and the S&P BSE Small-Cap index fell 0.55%. The market breadth was weak.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, climbed 8.72% to 14.62.

Among the sectoral indices, the Nifty Healthcare index (up 0.08%), the Nifty Metal index (down 0.04%) and the Nifty Financial Services index (down 0.35%) outperformed the Nifty 50 index.

Meanwhile, the Nifty Realty index (down 1.03%), the Nifty Oil & Gas index (down 0.98%) and the Nifty IT index (down 0.89%) underperformed the Nifty 50 index.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.13% to 7.153 as compared with previous close 7.162.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4375, compared with its close of 83.4675 during the previous trading session.

MCX Gold futures for 5 June 2024 settlement fell 0.16% to Rs 70,621.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 105.20.

The United States 10-year bond yield lost 0.09% to 4.564.

In the commodities market, Brent crude for July 2024 settlement gained 23 cents or 0.27% to $83.90 a barrel.

Global Markets:

The Dow Jones index futures were up 312 points, indicating a positive opening in the US stocks today.

European stocks advanced while most of the Asian stocks ended lower on Friday as investors look ahead to the release of key U.S. employment data later today.

Stock markets in Japan and mainland China were shut for public holidays.

The employment data release will be closely watched by the trading community after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday.

The Japanese yen was still in focus as it continued to show strength against the U.S. dollar amid suspected government intervention to support the currency on Monday.

Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.

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