Benchmark indices ended lower on Monday amid rising tensions between Iran and Israel. Sensex ended 845 points lower at 73,399 and Nifty lost 247 points to end at 22,272 today. Market cap of BSE-listed firms fell to Rs 394.73 lakh crore. India VIX, the volatility index, climbed 8% to 12.46 reflecting a rise in volatility in the stock market. .
Wipro, ICICI Bank, Bajaj Finserv, Bajaj Finance, Tata Motors, L&T and Tech Mahindra were the top Sensex losers, falling up to 2.70 per cent. Of 30 Sensex stocks, 27 ended in the red.
Shares of Nestle, Maruti and Bharti Airtel were the Sensex gainers, rising up to 1.24%.
Vinod Nair, Head of Research, Geojit Financial Services said, "Geopolitical tensions and higher-than-expected US inflation impacted investor sentiment and dragged the indices to a lower note. The major casualties were the mid- and small-cap indices due to their rich valuation and expectation of moderation in earnings growth in Q4FY24. On the other hand, the European market opened on a positive note while oil prices inched lower as market participants expected that the diplomatic efforts were likely to de-escalate tensions in the Middle East."
BSE capital goods, banking, auto and IT indices ended 929 pts, 850 pts, 440 pts and 564 pts lower, respectively.
Oil and gas shares capped the losses with the their BSE index rising 113 pts to 28,358, respectively.
Market breadth was negative with 914 stocks rising against 2990 stocks falling on BSE. 145 shares were unchanged.
Rupak De, Senior Technical Analyst at LKP Securities said, “Nifty recently dipped below a crucial moving average, following a breakdown in consolidation. Additionally, the Relative Strength Index (RSI) indicates a bearish crossover. Short-term sentiment appears bearish, although a significant decline isn't anticipated at present. Instead, the index is likely to fluctuate between 22,200 and 22,400. Sellers are expected to persist as long as the index remains below the 22,400 mark."
Previous session
Benchmark indices ended on lower on April 12 as sell-off intensified across all sectors. Nifty ended 234 pts lower at 22,519 and Sensex crashed 793 pts at 74,244. Market cap of BSE-listed firms slipped to Rs 399.68 lakh crore.