Sensex snaps 9-day rally, sinks 520 pts; Infy cracks 9%; banks limit losses
CLOSING BELL: The BSE IT index plunged 4.7 per cent, while the FMCG and Bankex gained 1 per cent and 0.3 per cent, respectively. Midcap and SmaIlcap indices too outperformed in trades on Monday.
 "BSE, NSE, Sensex, Nifty, stock markets")
Stock Market Highlights: The key benchmark indices plunged sharply to a low of 59,442 in early deals on Monday dragged by Infosys. The IT bellwether slumped 12 per cent to hit a 52-week low at Rs 1,219 on reporting a disappointing set of Q4 numbers, with net down 6.9 per cent on a sequential basis. The spillover effect saw the IT index slide as much as 4.7 per cent.
However, buying interest in FMCG and banking shares helped the benchmark indices recoup some of the lost ground. The S&P BSE finally ended 520 points lower at 59,911. In the process, it snapped its 9-day winning streak in which the index had rallied 2,816 points.
The NSE Nifty 50 recovered smartly from a low of 17,574, but yet ended with a loss of 121 points at 17,707.
Among the Sensex 30 shares, Infosys signed-off with a heavy loss of 9.4 per cent. Tech Mahindra, HCL Technologies, Wipro and TCS shed 2-5 per cent. Larsen & Toubro, NTPC and the HDFC twins were the other major losers.
HDFC Bank, which declared its earnings over the weekend, was down 1.7 per cent. Analysts believe a re-rating in the stock would happen as and when more clarity emerges on the smooth merger with HDFC. READ MORE
The broader indices outperformed the benchmark indices. The BSE Midcap index gained 0.5 per cent, while the Smallcap index added 0.2 per cent. The overall breadth too was marginally positive, with 1,850 shares advancing versus 1,730 declining stocks on the BSE.
3:50 PM
Currency check :: Rupee ends at 81.97/$ against Thursday’s close of 81.85/$
3:46 PM
BSE Stats :: Rally in broader markets supports overall breadth
3:45 PM
Broader markets outrun large-caps; MidCap index up 0.5%
3:42 PM
Sector check :: Nifty PSU bank index limits market downside; PSB jumps over 18%
3:41 PM
Sector check :: Infosys cracks 9%, LTI 7% as IT index sinks amid demand concerns
3:37 PM
Sectoral trends :: Nifty IT index sinks nearly 5%, PSU Bank index rallies 3%
3:36 PM
Sensex Heatmap :: IT stocks bleed; Infy sinks 9%, Tech M 5%
3:34 PM
CLOSING BELL :: Nifty holds 17,700
3:33 PM
CLOSING BELL :: Sensex snaps 9-day winning run, ends over 500 pts down
3:28 PM
ALERT :: SBI Card appoints Shantanu Srivastava as Chief Risk Officer with effect from April 21, 2023
3:21 PM
PSU banks rally; Punjab & Sind, Uco Bank, Indian Bank surge up to 12%
Shares of public sector banks (PSBs) rallied up to 12 per cent amid heavy volumes, in an otherwise a weak market, on expectation of strong earnings in the January-March quarter (Q4FY23). READ MORE
3:11 PM
Global Check:: US, UK stock futures tick marginally higher
Source: Investing.com
3:00 PM
News Alert:: Bank of Baroda to consider raising Foreign Currency Fund; stock up 2.5%
2:48 PM
Stock Alert: TV18 Broadcast up 2% ahead of Q4 results
2:36 PM
India, Russia discussing free trade agreement, says Russia's deputy PM
Russia's Manturov was speaking at an event in New Delhi with India's foreign minister, S. Jaishankar, who said the South Asian country was in advance agreement for a bilateral trade treaty with Moscow. READ MORE
Topics : MARKET WRAP MARKET LIVE Markets stock markets Q4 Results HDFC Bank Infosys Indian stock markets BSE Sensex Markets Sensex Nifty Nifty 50 Wall Street SGX Nifty
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First Published: Apr 17 2023 | 7:45 AM IST
