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MARKET WRAP: Sensex snaps 8-day rally, falls 222 pts, Nifty ends at 11,457

All that happened in markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers

Snapping its eight-day rally, the S&P BSE Sensex ended 222 points lower at 38,165 as investors booked profit in recent gainers. Besides, selling in auto stocks, too, weighed on the sentiment. 

Industry heavyweights Reliance Industries (RIL), HDFC Bank, SBI and Maruti contributed the most to the index's losses. Out of 30 components of the index, only 10 scrips ended in the green and rest in the red.  

The broader Nifty50 index of the National Stock Exchange (NSE) ended below the crucial 11,500 level at 11,457, down 64 points or 0.56 per cent. 

Market breadth remained in favour of declines as out of 2,859 companies traded on BSE, 1,697 declined and 1,017 advanced while 145 stocks remianed unchanged. 

On a weekly basis, Sensex gained 0.36 per cent while Nifty added 0.26 per cent. 

In the broader market, the S&P BSE Midcap index fell 84 points or 0.59 per cent to settle at 15,077, while the S&P BSE SmallCap index slipped 66 points or 0.44 per cent to close at 14,759.

Sectorally, barring realty stocks, all the indices declined. PSU banks bled the most, followed by media and auto stocks. The Nifty PSU Bank shed 2 per cent to end at 3,124 while the Nifty Auto index lost 1.28 per cent to close at 8,337. 

BUZZING STOCKS

ITC reclaimed the top spot in the list of India's most-valued fast moving consumer goods (FMCG) company in terms of market capitalistaion (market-cap) after a gap of five months by surpassing Hindustan Unilever (HUL). The stock, eventually, ended at Rs 298 apiece, down 10 per cent. 

Shares of Maruti ended nearly 2 per cent lower at Rs 6,558 on BSE. The stock has fallen over 7 per cent in the past four trading days, after the emergence of a report suggesting the company cut production due to lower demand.

Aviation stocks rallied during the trade. SpiceJet ended 7 per cent higher at Rs 98 apiece.

GLOBAL MARKETS

Asian shares held near 6-1/2-month highs on Friday after upbeat US data and optimism in the tech sector helped calm some of the jitters sparked by the Federal Reserve’s cautious outlook on the world’s biggest economy.

Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club OPEC and by US sanctions on Iran and Venezuela.

(With inputs from Reuters)

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