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Share Market updates: Sensex falls 382 pts, Nifty below 17,100; banking, IT top losers

Share Market updates: Sensex falls 382 pts, Nifty below 17,100; banking, IT top losers

Sensex and Nifty closed lower in volatile trade for the fourth straight session on Monday amid a sell-off across all sectors. Sensex ended 149 points lower at 57,683 and Nifty dropped 69 points to 17,206.

Share Market LIVE: Sensex, Nifty likely to open lower today Share Market LIVE: Sensex, Nifty likely to open lower today

Good afternoon!

Sensex and Nifty closed lower in volatile trade for the fourth straight session on Monday amid a sell-off across all sectors. Sensex ended 149 points lower at 57,683 and Nifty dropped 69 points to 17,206.

Here's a look at the latest updates of the market today!

3:35 pm: Sensex closes 383 points lower at 57,300 and Nifty slips 114 poinst to 17,092.

3: 10 pm:  M&M, Bajaj Finserv, Kotak Bank are the top Sensex gainers after market pares losses.

Of 30 Sensex stocks, 12 are trading in the green.

2:40 pm: Sensex, Nifty pare losses

 Sensex falls 275 points to 57,407 and Nifty is now trading 94 points lower at 17,112.

1: 54 pm: IRCTC, BFSL launch a contactless credit card for railway customers

Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has and Bank of Baroda Financial Solutions (BFSL) have jointly launched the IRCTC BoB RuPay contactless credit card. It will offer the benefit of maximum savings to their frequent railway travellers. IRCTC share down 2.86% to Rs 780.15 in afternoon session.

1: 30 pm: Capri Global stock rises on plan to enter gold loan business

Capri Global stock rises 1.5% to Rs 600 as firm plans to enter gold loan business in the first half of financial year 2022-23.

1:18 pm: Tata Power, Germany-based RWE Renewable tie up to develop offshore wind projects

Tata Power has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India. A corresponding Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 per cent subsidiary of Tata Power, which is one of India's largest integrated power companies, and RWE Renewables GmbH, one of the world's leaders in offshore wind. Tata Power stock trading 1.80% lower at Rs 220.95 on BSE.

1:11 pm: BSE losers

Top losers on BSE are Dhani Services Ltd (20%), JPPower (8.49%), Repco Home Finance (7.85%) and Garware Hi Tech Films (7.55%).

1:00 pm: Market check

Sensex falls 853 points to 56,830 and Nifty slips 257 points to 16,949   

12:28 pm: Cadila Healthcare shares fall to 52-week low on DCGI nod to rival's Covid-19 vaccine

Cadila Healthcare stock fell to its 52-week low today after the Drugs Controller General of India (DCGI) cleared the COVID-19 vaccine of competitor Biological E against the company's own vaccine ZyCoV-D. Cadila Healthcare share fell to a fresh low of Rs 355.7, falling 4.17% against the previous close of Rs 371.10 on BSE. Cadila Healthcare share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

12: 10 pm: All Sensex stocks trading in the red. TCS, Tata Steel, Bharti Airtel top losers, falling up to 3.69%.

11:45 am: Market check

Equity benchmark Sensex was trading over 650 points lower amid some buying in the market. Nifty also reclaimed 17k mark after a brutal sell-off in the early trade.

11:30 am: Biggest macro headwind for India

"Escalations in Ukraine tensions with Russia recognising two pro-Russian rebel regions have aggravated the crisis. The economic consequences are already visible in higher crude and gold prices," VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

The biggest macro headwind for India is crude racing to USD 97 a barrel, he said, adding that the inflationary consequence of this will force the RBI to abandon its dovish monetary stance.

11:00 am: Bloodbath on D-Street: Nykaa, Paytm, Zomato, PB Fintech shares melt amid brutal sell-off

Shares of Nykaa (listed as FSN E-Commerce Ventures Limited) crashed 8 per cent to hit an all-time low of Rs 1,218.8 on BSE amid brutal market sell-off. The stock has tanked over 53 per cent from its all-time high. The market cap of the firm fell below Rs 62,000 crore on BSE.
 
Likewise, Paytm stock tanked over 3 per cent to hit an all-time low of Rs 782.30. Shares of fintech major are trading 60 per cent below its all-time high of Rs 1,961.05. The market cap of the firm slipped to Rs 51,706 crore.
 
Shares of Zomato have more than halved from its all-time high of Rs 169.10. The stock plunged 6 per cent to hit an intraday low of Rs 77 on BSE. Similarly, the share price of PB Fintech Limited also slipped 7 per cent to hit an all-time low of Rs 737 against the previous close of Rs 726.70.\

Read: https://www.businesstoday.in/markets/stocks/story/bloodbath-on-d-street-nykaa-paytm-zomato-pb-fintech-shares-melt-amid-brutal-sell-off-323434-2022-02-22

10:20 am: Technical view by Mr. Parth Nyati, Founder, Tradingo

The market is witnessing a sharp cut in early trade of Tuesday's trading session on the back of intense geopolitical tension. We are in monthly F&O expiry week therefore we could see a surge in volatility whereas March is going to be a very volatile month due to lots of events like geopolitical uncertainty, results of state elections, US Fed meeting, etc. 

The overall trend is bullish but we may have high volatility over the next month therefore short-term traders should remain light while long-term investors should look at this correction as a buying opportunity. We are very bullish on capital goods, infrastructure, real estate, banking, consumer goods, and auto ancillaries space therefore we advise investors to look for buying opportunities in these areas. 

Technically, Nifty is trying to respect its 200-DMA which is currently placed around 16850 while if Nifty starts to trade below 200-DMA then correction may see further extension towards 16000/15500 levels. On the upside, 17300/17500 are important resistance levels; above this, we can expect positive momentum in the market.
 

10:00 am: Nifty below 17,000, Sensex tanks 1,000 points amid escalating Ukraine crisis; all sectors in the red.

Sakshi Batra gets you the opening action

 

9:45 am: Rs 6 lakh crore investor wealth wiped out as Russia-Ukraine tensions rise

Investors lost nearly Rs 6 lakh crore within minutes of market opening as Sensex and Nifty crashed amid rising tensions between Ukraine and Russia.

Market cap of BSE-listed firms fell by Rs 6.03 lakh crore after investor wealth declined to Rs 251.36 lakh crore against Rs  257.39 lakh crore in the previous session.

Sensex fell 922 points to 56,760 and Nifty dropped 302 points to 16,903.

Widespread selling on the mid cap and small cap counters also hit market sentiment. BSE mid cap and small cap indices declined 397 points and 542 points, respectively in trade today.

Read: https://www.businesstoday.in/markets/stocks/story/rs-6-lakh-crore-investor-wealth-gone-sensex-nifty-russia-ukraine-tensions-323422-2022-02-22

9:16 am: Sensex crashes over  950 pts, Nifty below 16,850 amid Russia Ukraine crisis

Equity benchmark Sensex crashed over 950 points to 56,727 and Nifty fell over 250 points to 16,847 as rising tensions sent jitters through markets.

All the 30 stocks on Sensex were trading in red. 

Dr Reddy and L&T were the top losers, followed by TCS, Tech Mahindra, Bajaj Finserv and HDFC.

8:40 am: Global Updates

US stock index futures tumbled on Monday after Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine, increasing concerns about a major war.

S&P 500 e-mini futures slid 1.81 percent. Dow Jones industrial average e-mini futures fell 1.37 percent and Nasdaq 100 e-mini futures dropped 2.65 percent. US stock markets were closed on Monday for the Presidents Day holiday.

The Nikkei 225 in Japan dropped 2% in morning trade before recovering partially from some of those losses, last down 1.66 percent while the Topix index slipped 1.33 percent. In South Korea, the Kospi fell 1.2 percent.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 2,261.90 crore on February 21, and domestic institutional investors (DIIs) bought shares worth Rs 2,392.85 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a negative note as SGX Nifty was down 199 points at 17,009.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Monday

Sensex and Nifty closed lower in volatile trade for the fourth straight session on Monday amid a sell-off across all sectors. Sensex ended 149 points lower at 57,683 and Nifty dropped 69 points to 17,206. Sun Pharma, TCS and ITC were the top losers on Sensex, falling up to 2.39%. Of the 30 Sensex constituents, 21 ended in the red.

Wipro, Infosys and PowerGrid were the top Sensex gainers, rising up to 1.45%.

BSE mid cap and small cap indices fell 189 points and 611 points, respectively.

On the sectoral front, capital goods, consumer durables, metals and oil and gas stocks led the losses today, with their BSE indices falling 401 points, 368 points, 389 points  and 394 points, respectively.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Feb 22, 2022, 8:58 AM IST
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