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MARKET WRAP: Sensex slips 394 pts amid weak global cues; RIL declines 1.7%
All that happened in the markets today
After rallying for three straight days, the domestic stock market came under selling pressure on Thursday amid weak global cues. The S&P BSE Sensex lost 394 points, or 1 per cent to settle at 38,220 while NSE's Nifty ended at 11,312 levels, up 96 points, or 0.84 per cent. India VIX rose over 4 per cent to 20.80 levels.
HDFC Ltd (down over 2 per cent) ended as the biggest loser on the Sensex while NTPC (up nearly 7 per cent) was the top gainer.
Of 30 constituents, 25 ended in the red while the other five settled in the green. Reliance Industries (RIL) contributed the most to the Sensex's fall, followed by HDFC, ICICI Bank, and HDFC Bank.
The broader market, however, ended with decent gains. The S&P BSE MidCap index added 0.87 per cent to settle at 14,869.42 levels while the S&P BSE SmallCap index ended at 14,421.54, up 0.72 per cent.
Among sectoral indices on the NSE, Nifty Private Bank index slipped over 1 per cent while Nifty Bank index fell 1.3 per cent to 21,999. Nifty Media, on the other hand, rose over 3 per cent to 1,598.65 levels.
Asian and European share markets fell on Thursday after the US Federal Reserve’s latest meeting minutes highlighted doubts about the recovery of the world’s largest economy and knocked Wall Street from recent record highs.
MSCI’s broadest index of Asia-Pacific shares outside Japan had its biggest daily decline in five weeks while the MSCI world equity index, which tracks shares in 49 countries, was down 0.6 per cent at the time of writing of this report.
The pan-European STOXX 600 was down 0.9 per cent and London’s FTSE 100 fell 0.8 per cent.
In commodities, oil prices fell on demand concerns driven by cautious views from OPEC+ producers and the US Federal Reserve regarding economic recovery from the coronavirus pandemic.
(With inputs from Reuters)