Stock Market India: Sensex, Nifty Edge Lower In Highly Volatile Trading Session: 10 Points

Sensex, Nifty Edge Lower In Highly Volatile Trading Session: 10 Points

The overall market breadth was weak as 664 shares were advancing while 2,057 were declining on BSE.

New Delhi:
The Indian equity benchmarks continued to fall for the sixth straight session on Tuesday, tracking subdued global stocks. The benchmark BSE Sensex plunged more than 1,000 points to hit a day low of 56,410 in early trade, while the broader NSE Nifty tanked over 300 points to hit an intraday low of 16,837. However, both the indices recovered from the initial losses but stayed in red during the late deals amid a highly volatile trading session. Asian shares and US futures tumbled after a tumultuous Wall Street session overnight, with investors nervous about the situation in Ukraine and eyeing the US Federal Reserve amid worries about a move to tighter monetary policy globally.

Here’s Your 10-Point Cheatsheet To This Big Story:

  1. Back home, as of 1:38 pm, the 30-share Sensex pack was down 35 points or 0.06 per cent at 57,456, and the broader NSE Nifty fell 11 points or 0.07 per cent to 17,159.

  2. Mid- and small-cap shares were positive as Nifty Midcap 100 index was up 0.49 per cent and small-cap shares were trading 0.60 per cent higher.

  3. On the stock-specific front, Axis Bank was the top Nifty gainer as the stock surged 6.34 per cent to Rs 749.30. SBI, UPL, IndusInd Bank and Bharti Airtel were also among the gainers. In contrast, Asian Paints, HDFC twins (HDFC and HDFC Bank), Titan and Wipro were among the losers.

  4. The overall market breadth was slightly positive as 1,699 shares were advancing while 1,578 were declining on BSE.

  5. On the 30-share BSE platform, Axis Bank, SBI, Airtel, IndusInd Bank, Maruti Suzuki India and L&T attracted the most gains with their shares rising as much as 6.49 per cent. Asian Paints, HDFC, Bajaj Finserv, Wipro, Titan and Tech Mahindra were among the laggards.

  6. Ukraine tensions: The North Atlantic Treaty Organization (NATO) said it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets, in what Russia denominated as Western “hysteria” in response to its build-up of troops on the Ukraine border.

  7. Fed announcement: The Federal Reserve will begin its two-day meeting later in the day, with investors starting to speculate that there is a small possibility that they will announce a surprise rate hike.

  8. Sensex had crashed 1,546 points or 2.62 per cent to close at 57,492 on Monday, while the broader NSE Nifty settled 468 points or 2.66 per cent lower at 17,149.

  9. It was the biggest single-session fall for both Sensex and Nifty since November 26.

  10. Over the last five sessions, Sensex has tumbled 3,817.4 points or 6.22 per cent.

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