Market Roundup: Nifty, Sensex snap three-day winning streak as banks, finance stocks slide; today’s top gainers and losers

Both the benchmark indices ended negative on Friday breaking a three-day winning streak amid a volatile session. The indices were dragged mainly by banking and finance stocks as the unabated rise in COVID-19 cases and localised lockdowns prompted investors to unwind bets.

A continuously depreciating rupee also sapped risk appetite, traders said.

After a fluctuating session, the 30-share BSE Sensex ended 154.89 points or 0.31 percent lower at 49,591.32. Similarly, the broader NSE Nifty slipped 38.95 points or 0.26 per cent to 14,834.85.

IT stocks remained in focus ahead of results next week, while a weak rupee also spurred buying in the counters.

During the week, the Sensex declined 438.51 points or 0.87 percent, while the Nifty shed 32.50 points or 0.21 percent.

“Domestic markets traded in a mild negative territory following weak global cues and increasing COVID cases. Fall in the market was led by the private banks as concerns on the banks’ asset quality spiked with increasing restrictions across states.

“Buying interest was seen in PSU Banks in hopes of finalisation of potential privatisation candidates. On the sectoral front, pharma stocks were the top gainers while broader markets continued to perform well,” said Vinod Nair, head of research at Geojit Financial Services.

Bombay Stock Exchange (BSE)

Sun Pharma, Hindustan Unilever, Tech Mahindra, Dr Reddy, and Titan were the top gainers of the day in the BSE. While the laggards included Bajaj Finance, UltraTech Cement, NTPC, Axis Bank, and ICICI Bank.

BSE metal, power, bankex, capital goods, finance and realty indices lost up to 1.11 per cent, while healthcare, FMCG, consumer durables, IT and teck rose as much as 2.32 per cent.

In the broader markets, the BSE midcap index dipped 0.08 per cent, while the smallcap gauge spurted 0.69 percent.

Top BSE Sensex gainers:

Sun Pharma: It was the top gainer on the BSE today with a surge of 3.69 percent. The shares closed at Rs 636.95.

Hindustan Unilever: It jumped by 2.51 percent to settle at Rs 2,470.05.

Tech Mahindra: The shares of the company closed at Rs 1,052.65 after gaining 2.37 percent.

Dr Reddy: It ended at Rs 4,759.50 with a jump of 1.48 percent.

Titan: The company witnessed a surge of 1.14 percent to close at Rs 1,591.75.

Top BSE Sensex Losers:

Bajaj Finance: The shares of the company witnessed a fall of 3.12 percent to settle the day at Rs 4,873.20.

UltraTech Cement: Its shares plunged 2.16 percent to end at Rs 6,826.05.

NTPC: The share price fell 1.95 percent to give a lower ending at Rs 102.90.

Axis Bank: The shares of the bank declined by 1.94 percent to close at Rs 668.45.

ICICI Bank: It closed at Rs 566.45 after observing a fall of 1.79 percent.

National Stock Exchange (NSE)

The NSE Nifty closed lower at 14,834.85, down by 38.95 points or 0.26 percent. While talking about the sectors, Nifty Pharma surged 3.04 percent to close higher at 12,995.35 followed by Nifty FMCG high and Nifty IT which jumped 0.77 percent and 0.81 percent, respectively.

However, Nifty Auto fell 0.37 percent to settle the day at 9,922.95.

Top gainers on NSE Nifty:

Cipla: The pharma stock gained 5.34 percent to settle at Rs 886.95.
Sun Pharma: The stock jumped 3.54 percent to close at Rs 636.00.
Hindustan Unilever: It surged 2.55 percent to end at Rs 2,471.35.
Tech Mahindra: The auto major witnessed a hike of 2.14 percent to close at Rs 1,051.00.
Tata Consumer Products: The FMCG copmany gained 2.06 percent to close the day at Rs 684.50.

Top losers on NSE Nifty:
Bajaj Finance: The stock declined by 3.01 percent to settle lower at Rs 4,878.00.
UPL: The stock closed at Rs 635.95 falling 2.40 percent.
Tata Steel: It fell 2.16 percent to end at Rs 898.55.
UltraTech Cement: The stock closed at Rs 6,826.10 witnessing a decline of 2.08 percent.
NTPC: Shares fell 2.00 percent to settle at Rs 102.90.

In the global markets, Wall Street surged after Federal Reserve Chair Jerome Powell reiterated the central bank’s dovish stance. Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended in the red, while Tokyo finished with gains.

Top stock exchanges in Europe were largely trading on a negative note in mid-session deals. Meanwhile, international oil benchmark Brent crude was trading 0.27 percent lower at $63.03 per barrel.

The rupee fell for the fifth straight session and settled 15 paise down at Rs 74.73 against the US dollar. Foreign institutional investors were net buyers in the capital market and purchased shares worth Rs 110.85 crore on Thursday, according to exchange data.

With inputs from PTI