On Friday, the last trading day of the week, the stock market started with a surge and advanced, but fell sharply in the afternoon. The market fluctuated with ups and downs throughout the day. Following this, the Bombay Stock Exchange benchmark Sensex lost another 77 points to close at 57,200.23. The market capitalization rose by Rs 1.13 lakh crore to Rs 261.10 lakh crore at the end of trading.
Domestic stock markets started the morning with excitement. European markets were weak. The US Federal Reserve’s policy tightening and the escalating geopolitical tensions in Ukraine have weighed on global food. The impact was also felt in the domestic market. With the federal general budget already being tabled, investors began to focus on recording profits. As a result, stock markets broke out during the afternoon trade, with the stock market reversing. The main reason for the decline was the strong selling of banking and auto stocks in particular. At one point, the Sensex lost about 900 points from its peak.
1,988 shares of the stock market: 1,365 shares of the total 3,458 shares traded lower on the Mumbai Stock Exchange. 1,988 shares gained. 105 shares remained unchanged. 167 stocks recorded new 52-week highs and 13 stocks recorded new lows. Also, 411 stocks recorded highs and lows and 293 stocks fell further and lows. The market capitalization rose by Rs 1.13 lakh crore to Rs 261.10 lakh crore at the end of trading. The number of registered investors has increased to 9.512 crore.
The Sensex fell by 518.17 points to 57,795.11 in the morning trade and rose to 58,084.33. However, the Bombay Stock Exchange benchmark Sensex fell by 76.71 points, or 0.13 per cent, to close at 57,200.23. Of the 30 top-ranked stocks in the Sensex, 16 declined. 14 shares gained.
Maruti Suzuki India (MSI) fell 2.99 per cent, IT major Tech Mahindra fell 2.43 per cent and powerhouse Pawa Grid fell 2.13 per cent. These were followed by ICICI Bank, Axis Bank, SBI and Bajaj Fin Chow, which fell 1 to 2 per cent. Shares of leading companies including Dr Reddy, Market Lead Reliance, L&T and HDFC Bank also fell.
NTPC scores: At the same time, NTPC, a public sector undertaking, topped the earnings list with a gain of 3.89%. This was followed by Sunboma, Indus Ind Bank, M&M, Wipro, ITC, Bothi Airtel and TCS, which rose 1 to 2 per cent. In addition, HDFC, Bajaj Finance, Infosys and Kotak Bank were among the gainers.
Nifty down 8 points: 1,162 shares gained on the National Stock Exchange. 729 shares declined. 31 stocks gained in the Nifty list, which includes 50 top-grade stocks. 19 stocks fell. The Nifty was down 8.20 points (0.05 per cent) at 17,101.95. The Nifty, which started the morning at 17,208.30 with a gain of around 100 points, touched a high of 17,373.50. Then, it suddenly went down to 17,077.10.
IT, Palma Indices Rise: The IT, Palma and Healthco indices, which had been declining for the past few days on the National Stock Exchange, rose 1 to 1.50 per cent to top the earnings list. Realty, Oil & Gas, Consumer Durables, Realty, Media, FMCG indices rose 0.50 to 0.80 per cent. However, the Nifty Bank, Private Bank, Auto and Financial Services indices fell 0.50 to 0.80 per cent.