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Stock Market HIGHLIGHTS: Sensex ends 168 pts lower, Nifty at 17,895; Federal Bank rises after results

Stock Market HIGHLIGHTS:Indian equity benchmarks Sensex and Nifty50 reversed initial gains in a volatile session on Monday. Weakness in private sector financial stocks weighed on headline indices, though strength in IT shares lent some support. 

Here are 10 things to know about the January 16 session on Dalal Street:

1) The Sensex lost 168.2 points or 0.3 per cent for the day to close at 60,093, having retreated 493.8 points from the strongest level in intraday trade. The Nifty50 settled at 17,894.9, down 61.8 points or 0.3 per cent.  

2) As many as 32 stocks in the Nifty50 basket ended lower. Adani Enterprises, Axis Bank, Hindalco, JSW Steel, Maruti Suzuki, NTPC, Apollo Hospitals, HDFC, SBI Life and Larsen & Toubro were the top laggards, closing around 1-3 per cent lower. On the other hand, TCS, Infosys, HCL Tech, Wipro and Tech Mahindra were the top gainers in the 50-scrip basket, rising around 1-3 per cent. Hero MotoCorp, PowerGrid, Bajaj Finance, SBI and ITC were some of the other top gainers in the Nifty pack.

3) The Nifty Bank and the Nifty Private Bank declined 0.5 per cent each. However, NSE’s PSU bank gauge was the top gainer, rising 1.6 per cent.

4) The Nifty IT — whose 10 constitutents include TCS, Infosys, HCL Tech, Wipro and Tech Mahidra — rose 1.1 per cent.

5) Overall market breadth was skewed in favour of the bears, as 1,691 stocks rose and 1,910 fell on BSE.

 

 

6) Analysts await more of financial results from India Inc for cues after HDFC Bank, Wipro and DMart reported their quarterly numbers last weekend.

7) The rupee weakened by 28 paise or 0.3 per cent to end at 81.61 against the dollar.

8) Crude oil prices held near this year’s highs as easing COVID restrictions in China raised expectations for a demand recovery in the world’s top crude importer. Brent crude was down 0.5 per cent at $84.9 a barrel.

9) European markets edged higher amid gains in healthcare shares. The pan-European Stoxx 600 index was up 0.1 per cent at the last count. S&P 500 futures were down 0.3 per cent. Wall Street will observe a holiday later in the day and resume trade on Tuesday.

10) Earlier on Monday, MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.4 per cent. Japan’s Nikkei fell 1.2 per cent, China’s Shanghai Composite rose one per cent and Hong Kong’s Hang Seng finished flat. 

Catch highlights of the January 16 session on Dalal Street, market commentary, expert views, investment ideas and much more. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.

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