Bloodbath on D-Street, Nifty tumbles below 22,000 mark and Sensex sheds over 1,000 points, Larsen & Toubro and Asian Paints among the top losers
Upstox
2 min read • Updated: May 9, 2024, 6:44 PM
Summary
The Nifty 50 index tumbled below the important psychological mark of 22,000. Furthermore, it slipped below its 100-DMA as investors’ hopes of any recovery turned to dust on Thursday. Nifty Smallcap 100 crashed by 2.83%.
On Thursday, the 30-share BSE SENSEX closed deep in the red, down by 1.45% to settle at 72,404.17. NSE NIFTY 50 ended at 21,957.50 crashing by 1.55%. The India VIX gained over 6% to close above the 18-mark for the first time since October 2022.
The Nifty 50 index tumbled below the important psychological mark of 22,000. Furthermore, it slipped below its 100-DMA as investors’ hopes of any recovery turned to dust on Thursday.
In the NIFTY50 space, 07 stocks advanced. Hero MotoCorp (+3.19%), Tata Motors (+1.77%), Mahindra & Mahindra (+1.52%), SBI (+1.13%) and Bajaj Auto (+1.04%) were the major gainers. Laggards included Larsen and Toubro (-5.65%), BPCL (-4.52%), Asian Paints (-2.48%), Coal India (-4.40%) and ONGC (-3.85%).
The sell-off was sharp in the broader market today with the Nifty Midcap 100 falling by 1.85%, while the Nifty Smallcap 100 crashed by 2.83% on Thursday. Market breadth was also weak today as 1,856 stocks declined and 255 stocks gained on NSE.
Among sectors, most of the indices ended with losses while only one sector closed in green. Only NIFTY Auto (+0.78%) closed in green today. On the other hand, the top two losers were NIFTY Oil & Gas (-3.15%) and Nifty Metal (-2.87%).
In the Asian equity markets, the Hang Seng index climbed by 1.22%, Shanghai gained by 0.83%. On the other hand, the Nikkei 225 declined by 0.34% and the Kospi slipped by 1.20%.
At 4:00 PM: Dow Jones Futures were seen trading at 39,135, with minor gains of 0.15%.
On Thursday, shares of SBI Limited rose 1.11% on the NSE. The company announced its fourth-quarter results for FY24. Net Profit was ₹16,695 crore, up by 125%. The board declared a dividend of ₹13.70 per equity share..
SKF India Limited's stock zoomed by 7.4% on the BSE. The company announced its financial results for Q4FY24. Revenue from operations grew to ₹1,203 crore compared to ₹1,094 crore during the same quarter of the previous year.