Business Standard

Sensex falls 149 pts; SmallCap index sheds 2% amid tepid global cues

Closing Bell: Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 per cent

Image SI Reporter New Delhi
BSE-1 (Photo credit: Kamlesh Pednekar)

Photo credit: Kamlesh Pednekar

The frontline indices swung in trade on Monday as investors monitored geo-political tensions between Russia and Ukraine. While the day began with reports that Russian President Vladimir Putin and his US counterpart Joe Biden had agreed in principle to a summit over the Ukraine crisis, the Kremlin later said there were no concrete plans yet for a summit. READ MORE

Against this backdrop, the S&P BSE Sensex gyrated 976 points intra-day but ended 149 points, or 0.38 per cent, lower at 57,683.5. The Nifty50, on the other hand, closed at 17,207, down 70 points or 0.4 per cent.

"Indian markets opened in red tracking global cues as investors continue to monitor Ukraine crisis amid rising tensions of potential invasion keeping investors on the edge for second consecutive week. During the afternoon session market pared some losses as buying in frontline stocks were aiding sentiment. Traders took some solace with Crisil Research's statement that India's industrial activity is expected to gather pace in the coming months owing to a gradual pick-up in consumption as well as investment demand. However, the relief rally couldn't hold long and markets drifted lower in closing session as fresh news over Ukraine crisis dampened the fragile sentiments," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

Wipro, Infosys, PowerGrid, Shree Cement, Nestle India, ICICI Bank, and HDFC Bank were the top large-cap gainers today, up between 0.7 per cent and 1.7 per cent. On the downside, Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 per cent.

In the broader markets, the BSE SmallCap index underperformed the benchmarks as it fell 2.2 per cent. The BSE MidCap index, on the other hand, was down 0.8 per cent.

Sectorally, the Nifty Media and Metal indices fell 2.7 per cent and 2.2 per cent, respectively, followed by the Nifty Pharma and PSB indices, down 1.4 per cent each. The Nifty Private Bank index, on the other hand, was the top gainer, up 0.3 per cent.

Buzzing stocks
Shares of listed hotel companies rallied up to 20 per cent on the BSE in Monday's intra-day trade, supported by heavy volumes, on expectation of strong outlook. Chalet Hotels, for instance, surged 20 per cent to hit a 52-week high of Rs 301.40 on the back of two-fold jump in trading volumes. READ MORE

Shares of Vedant Fashions, the owner of ethnic wear brand Manyavar, were trading lower for the third straight day on Monday, falling 3.5 per cent intra-day to Rs 875, which is close to its issue price of Rs 866 per share on the BSE. This comes after the company made a decent market debut last week. READ MORE

Shares of InterGlobe Aviation – parent company of the low-cost airline IndiGo – were down 4 per cent at Rs 2,025 on the BSE in Monday's intra-day trade after one of its promoter and co-founder Rakesh Gangwal stepped down from the airline's board. READ MORE

Shares of Tata Consultancy Services (TCS) are in focus in Monday's trade ahead of ex-date for its share buyback tomorrow, February 22, 2022. The stock hit an intra-day low of Rs 3,705.80, falling 3 per cent from its intra-day high of Rs 3,812 on the BSE. READ MORE

Global markets
European markets advanced on Monday as hopes emerged for a diplomatic solution to Russia-Ukraine tensions. The pan-European Stoxx 600 index added 0.6 per cent in early trade, with banks climbing 1.1 per cent. Menawhile, in the US, markets are closed Monday for the Presidents Day holiday.

Shares in Asia-Pacific were mixed on Monday as investors continued to monitor the situation surrounding Ukraine, while China left its benchmark lending rate unchanged. 
4:13 PM

Expert commentary | Market to remain volatile amid global headwinds: Geojit Financial Services

"Domestic indices started weak taking cues from negative global peers but in between recouped most of its losses on reports of likely meeting between Biden and Putin over the Ukraine issue. However, the market could not stretch the direction and turned negative as uncertainty in the global markets continued. Investors stood sidelined impacting volumes. The market is expected to be volatile due to the upcoming Fed meeting and state election results," said Vinod Nair, Head of Research at Geojit Financial Services.

stock markets

4:09 PM

Nifty tech levels | Index has support at 17,000 levels at present: Choice Broking

At present, the Nifty index has support at 17000 levels, breaching below the same can show further downside till 16900-16800 levels, while resistance comes at 17500 levels. On the other hand, Bank nifty has support at 36800 levels while resistance at 38500 levels, according to Palak Kothari, Research Associate, Choice Broking. 

markets, stock market, sensex, correction, nifty, shares, growth, profit, economy, gain

4:04 PM

Kalpataru Power ends 3% up on plan to merge JMC Projects

Kalpataru Power has announced the merger of JMC Projects (India) with itself to create one of India’s largest EPC companies in the areas of power transmission, buildings & factories, railways, oil & gas, water and heavy civil. As per the merger ratio, sharesholders of JMC shall be issued equity shares of Kalpataru in the ratio of 4:1.

hotel stocks
hotel stocks

3:56 PM

Godawari Power rises 4% on plan to divest entire stake in arm

Godawari Power and Ispat Ltd has approved in-principle the proposal for divestment of its entire shareholding in Godawari Green Energy Limited, a material subsidiary, by way of sale / transfer to Virescent Renewable Energy Trust at an enterprise value of Rs 665 crores.


3:51 PM

Sector update: Nifty Bank ends in green, Metals, Pharma, Realty, PSBs top losers

hotel stocks
l stocks
3:46 PM

Losses across broader indices; SmallCaps worst hit

hotel stocks

3:42 PM

Sensex Heatmap: Sun Pharma, TCS, ITC, L&T, Ultratech Cement dip 1.5-2%

hotel stocks

3:40 PM

Closing Bell: Benchmarks end lower for fourth day; Nifty holds 17,200

hotel stocks

3:39 PM

Closing Bell: Sensex sheds 149 points, down 0.26%

hotel stocks

3:24 PM

NEWS ALERT :: ED conducts raids at Indiabulls Finance Center

The Enforcement Directorate (ED) on Monday conducted raids at the offices of India Bulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021. READ MORE
3:13 PM

Domestic air traffic to cross pre-Covid levels in next 2 months: Scindia

During the pre-COVID times, domestic airlines carried around 4 lakh passengers per day and the number began climbing up after second wave but again declined after the emergence of Omicron infections late last year. READ MORE
3:03 PM

Nifty Bank firm in subdued afternoon trades; Federal Bank up 2%

hotel stocks

2:53 PM

RIL, Sun Pharma, TCS, ITC account for major losses on Sensex


2:51 PM

Tata Power, RWE Renewables GmbH tie up to develop offshore wind projects

Tata Power on Monday said it has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India.
A corresponding Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 per cent subsidiary of Tata Power, which is one of India's largest integrated power companies, and RWE Renewables GmbH, one of the world's leaders in offshore wind, a Tata Power statement has said. READ MORE
2:35 PM

Global markets :: European stocks climb as hopes of Russia-Ukraine solution emerge

>> European markets advanced on Monday as hopes emerged for a diplomatic solution to Russia-Ukraine tensions.

>> The pan-European Stoxx 600 index added 0.6% in early trade, with banks climbing 1.1% to lead gains as all sectors and major bourses entered positive territory.

>> Shares in Asia-Pacific were mixed on Monday as investors continued to monitor the situation surrounding Ukraine, while China left its benchmark lending rate unchanged.

>> Markets in the United States are closed Monday for the Presidents Day holiday, having dropped sharply on Friday as global markets were roiled by rising tensions in eastern Europe.

Source: CNBC

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First Published: Feb 21 2022 | 7:55 AM IST

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