Sensex falls 305 pts, Nifty gives up 17,250; Paytm slides 4%, HDFC 2%
CLOSING BELL: HDFC, Bharti Airtel, Cipla, Britannia, Sun Pharma, Maruti, and Bajaj Auto were the major drags today
Overall, over 1,900 stocks ended in the negative zone on the BSE as against 1,463 stocks that settled in the green. BSE M-cap stood at Rs 259.9 trillion at the end of the session.
European stocks were little changed on Wednesday as global markets continued to assess inflation concerns and Russia's invasion of Ukraine.
The pan-European Stoxx 600 hovered around the flatline in early trade, while Germany's DAX slipped 0.27 per cent and France's CAC40 was down 0.22 per cent.
On Wall Street, Dow Jones and S&P500 futures declined 0.3 per cent each, and Nasdaq Composite's Futures shed 0.4 per cent.
Earlier in Asia, Japan's Nikkei closed 3 per cent higher on stimulus hopes. Main indices in South Korea, Australia, and Hong Kong advanced in the range of 0.5 per cent to 1.2 per cent.
Technical View: Rupak De, Senior Technical Analyst at LKP Securities
Nifty capitulated the early gains as it failed to sustain the selling pressure at the higher level. The 61.80% Fibonacci retracement around 17330 has acted tough resistance on a closing basis. Therefore, Nifty needs to push itself above 17330 decisively to witness meaningful upsides over the next few days. On the lower end 17200 is likely to act as immediate support.
Market view: Vinod Nair, Head of Research at Geojit Financial Services
After the recent rally, market is getting cautious. Volatility is back due to inflationary pressures triggered by supply constraints. While consistently rising input cost & fall in demand due to surge in covid cases in parts of the world, war & high commodity prices are impacting earnings growth which can lead to downgrade in outlook. An end to the war & rise in supply can help India to sustain it resilience or else it will be a challenge in the short-term.
Market view: S Ranganathan, Head of Research at LKP Securities
Today being the Second Anniversary of the Covid lows, Nifty50 has indeed traversed a long way by posting a whopping 127% return since then. The Indian Investor has displayed the courage in transforming the investing landscape by believing in Equities as an asset-class even as FPIs pulled out big time. Metals bucked the general trend today led by Steel & Aluminium stocks on the back of price hikes. In the broader markets, the Midcap Index too posted smart gains with select constituents recording big gains today on the back of huge volumes.
European markets wipes off opening gains
US equity futures trade on a negative note
Brent crude boils nearly $118 a barrel
NEWS ALERT: EU approves aid for firms impacted by Ukraine war
Rupee weakens 16 paise versus US dollar
Closing bell: Cement stocks trade mixed on input cost rise worries
Closing bell: Over 1,200 stocks declined while 823 advanced
Closing bell: Nifty Metal top sectoral performer; Jindal Steel, SAIL shine above 3%
Closing bell: Midcaps outperform Smallcaps; India Vix shoots above 2%
Closing bell: Nifty Auto sheds over 1%, ends as worst sectoral performer
Closing bell: Kotak Bank, HDFC, Britannia lead Nifty 50 declines
Closing bell: Divi's Lab, Hindalco, Tata Steel top Nifty 50 gainers
Closing bell: Metal, pharma stocks trade firm in a weak market
Closing bell: 18 out of 30 Sensex stocks close in red
Closing bell: Sensex closes lower by over 300 points
Closing bell: Nifty 50 closes in red below 17,250 levels
Fertilizer stocks down in the dumps post urea production push
First Published: Mar 23 2022 | 08:01 AM IST