On a weekly basis, the Sensex lost 1,141.78 points, or 1.95%, while the Nifty lost 303.70 points, or 1.73%.
On a weekly basis, the Sensex lost 1,141.78 points, or 1.95%, while the Nifty lost 303.70 points, or 1.73%.
Equity markets were under selling pressure on Friday after a two-session rally as IT, bank and energy stocks rallied amid a bearish trend overseas following sharp remarks from the US Federal Reserve.
Analysts said a sharp depreciation in the rupee and unabated outflow of foreign funds added to the gloom.
The BSE benchmark Sensex closed 714.53 points or 1.23% lower at 57,197.15. The broader NSE Nifty ended 220.65 points or 1.27% lower at 17,171.95.
SBI was the biggest loser in the 30-share Sensex pack, falling 3.08%, followed by HUL, IndusInd Bank, Dr Reddy’s, Axis Bank, Bajaj Finserv, Infosys and ICICI Bank.
On the other hand, M&M, Bharti Airtel, Maruti Suzuki, Asian Paints, ITC and HCL Technologies rose up to 0.98%.
“This highly volatile market with no clear direction is being affected on a daily basis by two factors – one, external and two, internal. External factor Mother Market is uncertain movement in the US where the S&P 500 and Nasdaq go up in approx. one day 2% in and goes down about 2% the next day.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The internal factor influencing the market is a see-saw conflict between FIIs and DIIs. Both these external and internal factors are now uncertain and hence the market is volatile without any direction. ” ,
On a weekly basis, the Sensex lost 1,141.78 points, or 1.95%, while the Nifty lost 303.70 points, or 1.73%.
“The Indian equity market has been rising over the past few days following a healthy pullback from the geopolitical crisis-led lows witnessed in early part of March. While the headline index appears to be in a consolidation mode, there is significant activity. The broader markets seem to have shifted…
“The market appears to be a bit cautiously positioned, as the Q4FY22 earnings season has started on a mixed note and there have been minor disappointments from some of the larger regional majors. Hence, investors may prefer to announce and wait to hear more results. Julius Baer Executive Director Milind Muchhala said, “With comments in case there are any concerns about the cut in earnings.
In the broader market, the BSE Midcap gauge fell 0.71% and the Smallcap index fell 0.38% in Friday’s session.
1,956 shares declined, while 1,451 advanced and 124 remained unchanged.
All BSE sectoral indices closed lower, with Bank losing the most at 2.19%, followed by Metals (2.17%), Finance (1.70%), Healthcare (1.57%) and Basic Materials (1.45%). Stayed.
World stocks fell after US Federal Reserve Chairman Jerome Powell signaled a 50 bps rate hike in May amid efforts to rein in inflation.
Elsewhere in Asia, markets in Tokyo, Hong Kong and Seoul closed lower, while Shanghai ended marginally higher.
European markets were trading with a fall in the afternoon session.
Shares in the US closed with a fall on Thursday.
Meanwhile, international oil benchmark Brent crude fell 1.60% to $106.6 per barrel.
The rupee on Friday closed 32 paise lower at 76.49 (provisional) against the US dollar amid firm global markets.
Foreign institutional investors continued selling shares worth Rs 713.69 crore on Thursday, according to stock exchange data.