Connect with us

BUSINESS

Sensex breaks 7-day fall, but logs weekly loss

Seven-day losing pattern, the Sensex today reclaimed the key 26,000-mark by recovering 61 points,

Published

on

kno news

 Breaking a seven-day losing pattern, the Sensex today reclaimed the key 26,000-mark by recovering 61 points, helped by gains in pharma, auto and capital goods, but both indices registered a weekly drop.

For the week, the Sensex lost 448.86 points, or 1.69 per cent, while the broader NSE Nifty dropped 153.70 points, or 1.88 per cent. This is their biggest weekly in five, which is since the week ended November 18.

Domestic investors backed up and covering-up ofSHORT positions gave equities a push too. But a weak trend in Asia and a muted opening in Europe cast its shadow.

 
 
 

The rupee appreciated 21 paise intra-day against the dollar, to 67.78, which had a positive influence too, brokers said.

After a subdued opening, the Sensex dropped as foreign funds liquidated bets ahead of Christmas. but emergence of value-buying later meant it wiped off early losses before settling higher by 61.10 points, or 0.24 per cent, at 26,040.70.

The 50-share NSE Nifty ended up 6.65 points, or 0.08 per cent, at 7,985.75 points. Intra-day, it shuttled between 7,942.05 and 8,022.60.

For the major part of the session, both Sensex and the Nifty moved in a tight range in tandem with emerging markets, which remained subdued on sustained foreign fund outflows.

The 30-scrip gauge had lost 718.22 points in the previous seven sessions on sustained foreign fund outflows and fears of a likely hit to corporate earnings due to currency crunch and lack of any major trigger.

Cipla surged 4.03 per cent, logging the best gains among 30 Sensex constituents. It was followed by Sun Pharma with a rise of 2.40 per cent.

Other gainers which supported the BSE Sensex include Maruti Suzuki, Bajaj Auto, GAIL, L&T, HDFC Bank, Hero MotoCorp, Bharti Airtel, Asian Paints, NTPC, HDFC Ltd, NTPC, Infosys and RIL.

On the other hand, stocks led by Axis Bank, ONGC, ITC Ltd, Tata Motors, M&M, ICICI Bank, Tata Steel, TCS, Adani Ports, Wipro, SBI and Dr Reddy’s finished in the negative terrain.

A weak trend at other Asian markets and a mixed opening in European markets also influenced sentiment here. While Japanese financial markets were closed today for a public holiday, Hong Kong’s Hang Seng fell 0.28 per cent and Shanghai Composite Index shed 0.94 per cent.

Among European markets, Frankfurt was up 0.12 per cent, while Paris rose 0.02 per cent in their morning trade but London’s FTSE shed 0.03 per cent.

Sectorwise, the BSE capital goods index gained the most by rising 0.87 per cent, followed by consumer durables (up 0.78 per cent), auto (0.28 per cent) and oil and gas (up 0.26 per cent) while realty, healthcare, FMCG and IT ended lower by up to 1.06.

In contrast, the broader markets remained under pressure, with the mid-cap index falling by 0.40 per cent and small-cap index 0.04 per cent.

Meanwhile, foreign portfolio investors sold shares worth a net Rs 614.40 crore yesterday, according to provision data.

PTI

Trending

TOP STORIES1 hours ago

34-yr-old man found dead in Soura | KNO

TOP STORIES2 hours ago

10 dead after cab plunges into gorge in Ramban, rescue ops continue | KNO

TOP STORIES2 hours ago

10 dead after cab plunges into gorge in Ramban | KNO

TOP STORIES13 hours ago

Refrain from disclosing identity of children in need of care, protection: CWC Sgr | KNO

TOP STORIES13 hours ago

Tragedy Strikes Again: Minor Girl Mauled to Death by Leopard in Budgam Village, 2nd Attack in Past 17 Days | KNO

TOP STORIES13 hours ago

Man jumps into river Jhelum near Zaina Kadal | KNO

TOP STORIES15 hours ago

Illegally acquired property of notorious drug peddler attached in Bla: Police | KNO

TOP STORIES15 hours ago

ADGP L&O reviews preparedness for upcoming elections | KNO

TOP STORIES15 hours ago

HMT Zainakote residents protest against power paucity in Ramadan | KNO

TOP STORIES15 hours ago

Missing girl from Chasana, Reasi recovered within 2 days: Police | KNO

TOP STORIES15 hours ago

HMT Zainakote residents decry contaminated water supply during Ramadan | KNO

TOP STORIES15 hours ago

Budgam residents concerned over deteriorating road conditions | KNO

TOP STORIES15 hours ago

Congress leader Harbans Bral joins BJP in Jammu | KNO

TOP STORIES15 hours ago

Shopian, Pir Panjal residents demand reopening of Mughal Road for traffic | KNO

TOP STORIES15 hours ago

Dry, hollow chinar trees risk lives of students, people in Ganderbal’s Saloora | KNO

TOP STORIES15 hours ago

Ten Injured as vehicle plunges into gorge in Poonch | KNO

TOP STORIES15 hours ago

‘Don’t be fooled’: Omar cautions against believing AFSPA repeal promises | KNO

Copyright © 2021