Stock Market Today: Nifty, Sensex Resume Declines After One-Day Breather As Kotak Bank, Infosys Weigh
Nifty ended 0.45% or 112.50 points down at 24741.55 and Sensex lost 0.09% or 73.48 points to close at 81151.27. Intraday, the Nifty rose as much as 0.50% and Sensex gained as much as 0.7%.
KEY HIGHLIGHTS
Economic Data, Events Later Monday
US: FOMC Member Logan Speaks
US: CB Leading Index m/m
US: FOMC Member Kashkari Speaks
US Futures Decline Amid Quarterly Earnings
Future contracts of US indices traded lower as market await more quarterly earnings. The S&P 500 futures were trading 0.11% down at 5,899.75, and Dow Jones Industrial Average ended 0.08% down at 43,485.0 as of 3:27 p.m. IST. The Nadaq 100 futures was 0.27% down at 20,425.75 as of 3:28 p.m. IST.
Nifty, Sensex Resume Decline After One-Day Breather As Kotak Bank, Infosys Weigh: Closing Bell
Benchmark equity indices started the week on a negative note after opening higher as investors assessed more quarterly results. Kotak Mahindra Bank and Infosys weighed on the key indices but gains in heavyweights HDFC Bank and Reliance minimised the fall.
Nifty ended 0.45% or 112.50 points down at 24741.55 and Sensex lost 0.09% or 73.48 points to close at 81151.27. Intraday, the Nifty rose as much as 0.50% and Sensex gained as much as 0.7%.
"Bullish divergence did not last for long as the Index formed a Dark Cloud Cover candlestick pattern on the daily chart indicating an upper hand of the Bears," said Aditya Gaggar, director of Progressive Shares. "The range is shifted lower to 24,570-25,000 and a breakout on either side will open doors for another 250-300 points move."
Shares of Kotak Mahindra Bank Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Tata Consumer Products Ltd., and ICICI Bank Ltd. dragged the Nifty.
While those of HDFC Bank Ltd., Reliance Industries Ltd., Bajaj Auto Ltd., Mahindra & Mahindra Ltd., and Asian Paints Ltd. minimised the fall.
Except Nifty Auto, all sectoral indices were lower at close.
Market breadth was skewed in favour of sellers. Around 2,900 stocks declined, 1,133 stocks advanced, and 142 stocks remained unchanged on BSE.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 1.63% and 1.51% lower, respectively.
On BSE, 18 sectors ended lower, and one higher out of 20. The BSE Services declined the most, while the BSE Auto was the only sector finished the session with gains.
Rupee Closes Flat Against Dollar
Rupee closed flat at 84.066 against the US dollar.
It closed at 84.074 on Friday.
Source: Bloomberg
Markets At Close
Nifty and Sensex were back in the negative territory after one-day breather
Nifty ends 0.45% or 112.50 points down at 24741.55
Sensex ends 0.09% or 73.48 points lower at 81151.27
Intraday, the Nifty rose as much as 0.50% and Sensex gained as much as 0.7%.
Broader indices underperformed; Nifty Midcap 100 ended 1.75% down and Nifty Smallcap 250 closed 1.8% lower
Except Nifty Auto, all sectoral indices were lower at close
Bajaj Auto and HDFC Bank were top Nifty gainers
Tata Consumer and Kotak Mahindra Bank fell the most
