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Sensex tanks 709 pts from day's high, ends 311 pts down; Nifty holds 17,500

F&O Expiry: 25 of the 30 Sensex constituents and 34 of the 50 Nifty constituents ended in the negative territory including Adani Ports, Bajaj Finance, IndusInd Bank, Infosys, TCS, Axis Bank, and HDFC

Image SI Reporter New Delhi
Sensex tanks 709 pts from day's high, ends 311 pts down; Nifty holds 17,500

CLOSING BELL

Stock market highlights:  Equity gains evaporated in the fag-end of the session as investors adjusted their positions amid the F&O expiry for the August derivatives series. The S&P BSE Sensex tumbled 709 points from the day's high and closed at 58,775, down 311 points or 0.53 per cent.

The Nifty50 index, too, closed 83 points, or 0.47 per cent, lower at 17,522. It had touched a high of 17,727 during the day.

25 of the 30 Sensex constituents and 34 of the 50 Nifty constituents ended in the negative territory including Adani Ports, Bajaj Finance, IndusInd Bank, Infosys, NTPC, TCS, Axis Bank, PowerGrid, and HDFC. The gainers, meanwhile, were Shree Cement, Divis Labs, Hindalco, Eicher Motors, HDFC Life, Grasim, and SBI Life. Among heavyweights, Maruti Suzuki, SBI, Titan, Wipro, and Dr Reddy's Labs held tepid gains.

The broader markets, however, held upbeat momentum with the BSE MidCap and SmallCap indices settling up to 0.2 per cent higher. Among sectors, all but the Nifty PSU Bank (up 2.74 per cent) and Realty (up 1.47 per cent) indices closed in the negative zone. 

Nifty PSU Bank index has more upside
With the pick-up in market momentum, and improved economic outlook, shares of public sector banks have staged a smart comeback on the bourses. The PSU Bank index has jumped 16 per cent over the past three months, as against a 9-per cent rally in the benchmark Nifty50 index. Going ahead, analysts see more legs in this rally. READ MORE

DreamFolks Services IPO
At 3:30 PM, the three-day issue of DreamFolks Services was subscribed nearly 5x with the retail portion seeing a subscription of 17 times. The NII and QIB quota, meanwhile, was subscribed 5.5 times and 0.57 times, respectively.

The grey market premium of the stock has jumped nearly 15 per cent after the issue's strong demand. READ MORE
3:56 PM

Expert view: Consistent FII support is guiding the market mood

"Ahead of the Jackson Hole symposium, investors across the world are eagerly expecting the Fed chair's speech to evaluate the outlook for monetary policy and determine whether the central bank can achieve a soft landing for the economy. Crude prices rose as Saudi Arabia suggested that OPEC+ supply may be reduced to address market instability. Although Indian equities are trading at a premium over other emerging markets, the consistent support from FIIs is guiding the domestic market."
 
- Vinod Nair, Head of Research at Geojit Financial Services
 
3:55 PM

Tech view: Bearish reversal likely; Nifty may slide to 17,350 or lower

"The Nifty formed an engulfing pattern after two days of positive move setting a stage for a bearish reversal. The momentum indicator RSI is also pointing toward a negative momentum in the near term. On the lower end, 17,480 is likely to act as initial support; a fall below 17,480 may take the index towards 17,350. Below 17,350 the Nifty may drift down towards 17,000-16,950. On the higher end, resistance is visible at 17,700."
 
- Rupak De, Senior Technical Analyst at LKP Securities
 
3:54 PM

Primary Market Update:: DreamFolks Services IPO subscribed over 5x so far on Day 2

The retail portion was subscribed up to 17.16 times, while the HNIs segment received bids of 5.84 times as of 3:45 PM on Day 2 of the offer period. Here's what the grep market premium indicates. READ MORE

Photo: Kamlesh Pednekar
3:48 PM

NDTV hit the second straight upper limit today, stock has delivered over 150% returns in 3 months

Shares of NDTV were locked at the 5 per cent upper circuit for the second straight day, hitting a 14-year high at Rs 403.70 on the BSE on Thursday and rallied 156 per cent in past three months. Prominent investor, Dolly Khanna held 645,276 equity shares or 1 per cent stake in NDTV at the end of June 2022 quarter. READ MORE

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3:46 PM

Thermax rallies 9% in 2 days; hits new high on strong order book position

Thermax has a strong order book across diverse sectors, including refineries, steel, power, and chemicals. READ MORE

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3:45 PM

PSP Projects gained 3% as company bags new orders worth Rs 247 crore

With receipt of the current order, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,344.24 crore, the civil construction company said in exchange filing. READ MORE

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3:43 PM

Bank Nifty view: Bank Nifty near support seen at 38,500 - 38,400

"The Bank index witnessed selling pressure from higher levels and failed to surpass the hurdle of 39,500 on the upside. The immediate downside support stands at the 38,500-38,400 zone and if breached will lead to further selling pressure on the downside. The index needs to break the range of 38,500-39,500 for decisive trending moves on either side."

- Kunal Shah, Senior Technical Analyst at LKP Securities 
 
3:41 PM

Nifty PSU Bank index soars 2.7%; Realty jumps 1.7%

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3:40 PM

Sectorally, Nifty IT, Metal and Healthcare indices were the major losers

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3:38 PM

Broader markets outperforms; India VIX jumps over 6%

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3:37 PM

Nifty 50:: Top FIVE gainers and losers on Thursday

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3:36 PM

Sensex 30 Heatmap:: 25 Losers v/s 5 Gainers; Bajaj Finance, IT shares weigh

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3:34 PM

NSE Nifty 50 shed 82 points, settled at 17,522

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3:32 PM

Closing Bell:: S&P BSE Sensex ended 311 points lower at 58,775 owing to a late sell-off

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3:24 PM

BSE 500:: Volume Shockers

Sapphire Foods has witnessed unusually high volume of around 3.95 lakh shares on the BSE so far as against its five-day average volume of around 5,750-odd shares. Similarly, Cochin Shipyard, Crompton Greaves Consumer, BHEL and L&T Finance Holdings witnessed a significant spike in volume on Thursday. VIEW MORE

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First Published: Aug 25 2022 | 8:09 AM IST

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