Stock Market Today: Nifty, Sensex End Over 1% Down HDFC Bank & SBI Share Prices Drag
Nifty Closes At Over Four–Month Low, Sensex Ends 820.97 Points Lower; HDFC Bank, SBI Top Losers
(Photo source: Vijay Sartape/NDTV Profit)
KEY HIGHLIGHTS
Economic Data Releases And Events For Nov 12 & Nov 13
US: Federal Reserve Bank of Cleveland Inflation Expectation
US: NFIB Small Business Index — 4:30 p.m.US: Federal Reserve Governor Christopher Waller will speak at Clearing House Annual Conference, in New York — 8:30 p.m.
US: Federal Reserve Bank of Richmond President Thomas Barkin will speak at the Baltimore Together Summit — 8:45 p.m.
US: Federal Reserve Bank of Minneapolis President Neel Kashkari will speak — 12:30 a.m.
US: Federal Reserve Bank of Philadelphia President Patrick Harker will speak Carnegie Mellon University in Pittsburgh — 3:30 a.m.
US: Federal Reserve Bank of Richmond President Thomas Barkin will speak at Salisbury Wicomico Economic Development, in Maryland — 4:00 a.m.
Japan: PPI — 5:20 a.m.
Australia: Wage Price Index — 6:00 a.m.
China: Foreign Direct Investment
UK: External BOE MPC Member Catherine Mann will speak at BNP Paribas Global Markets Conference in London — 3:15 p.m.
US Market Update: Futures Trade Lower; FOMC Officials' Speeches In Focus
As of 3:41 p.m., the Dow Jones Industrial Average future was 0.13% down at 44,383.00, and the S&P 500 future was 0.22% down at 6,018.75. The Nasdaq 100 future was 0.22% down at 21,171.75.
Nifty Closes At Over Four–Month Low, Sensex Ends 820.97 Points Lower; HDFC Bank, SBI Top Losers: Market Wrap
The India's benchmark indices declined for four sessions in a row on Tuesday. HDFC Bank Ltd., and State Bank of India dragged the benchmark indices.
The NSE Nifty 50 ended 257.85 points or 1.07% down at 23,840.35, the lowest level since June 25. The BSE Sensex ended 820.97 points or 1.03% down at 78,675.18, the lowest level since Aug 6.
During the session, the Nifty 50 declined 1.25% to 23,839.15, and the Sensex fell 1.19% to 78,547.84.
Britannia Industries Ltd. share price declined 7.91% to Rs 5,005.00 apiece as the company reported 9% fall in consolidated net profit for the quarter ended September, missing street expectations.
The Sensex was 1.03% down at 78,675.18.
The Nifty 50 ended 1.25% down at 23,840.36.
"Today the benchmark indices witnessed a sharp selloff, the Nifty ends 257 points lower while the Sensex was down by 790 points. Among Sectors, almost all the major sectoral indices witnessed profit booking at higher levels but PSU Banks and Auto indices lost the most shed nearly 2 percent. Technically, on daily charts, it has formed long bearish candle and on intraday charts, it is holding lower top formation, which is largely negative," said Shrikant Chouhan, head, equity research, Kotak Securities.
Now, the immediate support is placed at 23,800 and in the case of violation, it would drag the Index further lower to 23,650; on the flip side, multiple resistance points are there with immediate being at 24,100 where the Index will find selling pressure, said Aditya Gaggar, director, Progressive shares.
The Nifty Bank ended 1.46% down at 51,120.60.
HDFC Bank Ltd., State Bank of India, NTPC Ltd., Britannia Industries Ltd., and Larsen & Toubro Ltd. weighed on the Nifty 50 index.
Infosys Ltd., ICICI Bank Ltd., Trent Ltd., Sun Pharmaceutical Industries Ltd., and HCLTech Ltd. added to the Nifty 50 index.
Top contribution to the Nifty 50 index.
On NSE, all 12 sectors ended lower with the NSE Nifty Auto declined the most. The NSE Nifty IT ended with the least gains.
All sectoral indices ended lower on NSE.
Broader markets declined in line with the benchmark indices. The BSE Midcap and Smallcap indices ended 0.98% and 1.28% lower, respectively.
On BSE, 19 sectors declined and two ended with marginal gains. The BSE Power declined the most, while the BSE Focused Realty emerged as the best performing sector.
Market breadth was skewed in favour of sellers. Around 2,734 stocks declined, 1,235 stocks advanced, and 92 stocks remained unchanged on BSE.
Rupee Closes Flat Against Dollar
The rupee closed flat at 84.39 against the US dollar. It closed at 84.388 on Monday, according to data on Bloomberg
Market At Close
The NSE Nifty 50 ended at the lowest level since June 25.
The BSE Sensex ended at the lowest level since Aug 6.
The Nifty 50 and Sensex declined for four consecutive sessions.
HDFC Bank Ltd., State Bank of India, and NTPC Ltd. are top dragger of the Nifty 50 index.
Infosys Ltd., and ICICI Bank Ltd., and Trent Ltd. share prices were top contributors to the Nifty 50 index.
The NSE Nifty Auto led losses, while the NSE Nifty Realty emerged as the top gainer.
The NSE Nifty Midcap 150 ended 0.91% down at 20,560.60.
The NSE Nifty Smallcap 250 ended ended 1.28% down at 17,196.40
