ET NOW CLOSING BELL: BEARS MAUL BULLS AS SENSEX SLUMPS 732 POINTS; NIFTY SINKS 319 POINTS AFTER HITTING NEW HIGH
Stock Market Closing Bell: Equity benchmark indices on Friday retreated from highs to close deep in the red. In the morning trade, Nifty reached its fresh all-time peak, following a rally in shares of Bajaj Finance and positive trends from the US markets.
At close, the 30-share BSE Sensex was down 732.96 points or 0.98 per cent at 73,878.15. The index made a high of 75,095.18. The NSE Nifty finished 172.35 points or 0.76 per cent lower at 22,475.85. It hit a record peak of 22,794.70.
On the sectoral front, the Nifty Bank index that tracks the banking sector comprising of 12 banking stocks, settled at 48,923.55, down 307.50 points or 0.62 per cent. It made an intraday high of 49,607.75.
From the broader market, Nifty Midcap 100 and Smallcap 100 fell 0.35 per cent and 0.49 per cent, respectively.
From the Sensex basket, Bajaj Finance, Bajaj Finserv, M&M and SBI were the gainers. L&T, Maruti, Airtel, Nestle India and Reliance Industries fell more than 2 per cent each. UltraTech Cement, JSW Steel, Kotak Mahindra Bank, Asian Paints and IndusInd Bank were other major losers.
"Profit booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside. Though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FII's exposure to the domestic market," Vinod Nair, Head of Research, Geojit Financial Services, said.
Earlier on Thursday, the BSE benchmark climbed 128.33 points or 0.17 per cent to settle at 74,611.11. The NSE Nifty went up by 43.35 points or 0.19 per cent to 22,648.20. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 964.47 crore, according to exchange data.
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2024-05-03T10:44:28Z dg43tfdfdgfd