Sensex Nifty decline due to profit taking close FY22 with over 18 pc gains
Mumbai Mar 31 PTI Benchmark stock indices Sensex and Nifty pared their early gains to settle lower in choppy trade on the last day of the 2021-22 fiscal on Thursday mainly due to profit-taking in Reliance Industries Infosys and HDFC Bank after a three-day rally Ending its three-day winning run the 30-share BSE Sensex declined by 11548 points or 020 per cent to settle at 5856851 amid the expiry of monthly derivatives contracts During the day it touched a high of 5889092 and a low of 5848579 The broader NSE Nifty declined by 3350 points or 019 per cent to settle at 1746475 with 30 of its stocks ending with losses For 2021-22 fiscal the BSE Sensex jumped 905936 points or 1829 per cent while the Nifty rallied 277405 points or 1888 per cent Even as markets ended the last day of the financial year in a rather quiet mood it has delivered a 19 per cent return this year on the Nifty with two sectoral indices – metals and media returning over 50 per cent this year On the broader market as well both the midcap-100 and smallcap-100 delivered over 25 per cent return this year Such returns in a year when FPIs have pulled out big money highlights the confidence of the Indian investor amidst a slew of headwinds according to S Ranganathan Head of Research at LKP Securities Among the 30-share pack Reliance Industries fell the most by 146 per cent Wipro declined by 144 per cent Dr Reddys by 104 per cent and Sun Pharma by 060 per cent HDFC Bank UltraTech Cement and Infosys also ended down On the other hand HUL rose the most by 166 per cent followed by Mahindra Mahindra by 159 per cent IndusInd Bank by 093 per cent Bharti Airtel by 080 per cent ITC by 066 per cent and Titan by 05 per cent Axis Bank which announced the acquisition of the India retail business of US-based Citi spurted by 139 per cent In the previous trade the 30-share BSE barometer index surged 74034 points or 128 per cent to settle at 5868399 Similarly the NSE Nifty climbed 17295 points or 1 per cent to settle at 1749825 In the broader market the BSE smallcap index gained 031 per cent and the midcap jumped 029 per cent Investors followed global market cues which were mostly weak as most of them had rallied in the last few sessions on fall in crude oil prices and expectations of some solution to the Russia-Ukraine conflict After seeing sharp gyration during the week investors exercised caution with a negative bias on the expiry day said Shrikant Chouhan Head of Equity Research Retail Kotak Securities Ltd Harsh Parekh Technical Analyst Bonanza Portfolio said Indian equity indices opened today on a positive note on the back of a weak US dollar and FPI turning buyers But indices turned volatile in afternoon trade and ended the three-day winning run In Asia equity exchanges in Shanghai Tokyo and Hong Kong ended lower while Seoul settled with gains Markets in Europe were mostly trading lower Stock exchanges in the US ended on a negative note in the overnight session Meanwhile international oil benchmark Brent crude tumbled 509 per cent to USD 10768 per barrel on reports that the US was considering releasing a record 180 million barrels of oil from strategic reserves Foreign Institutional Investors FIIs were buyers as they bought shares worth Rs 135747 crore on a net basis on Wednesday according to stock exchange data PTI SUM MR MR
Mumbai Mar 31 PTI Benchmark stock indices Sensex and Nifty pared their early gains to settle lower in choppy trade on the last day of the 2021-22 fiscal on Thursday mainly due to profit-taking in Reliance Industries Infosys and HDFC Bank after a three-day rally Ending its three-day winning run the 30-share BSE Sensex declined by 11548 points or 020 per cent to settle at 5856851 amid the expiry of monthly derivatives contracts During the day it touched a high of 5889092 and a low of 5848579 The broader NSE Nifty declined by 3350 points or 019 per cent to settle at 1746475 with 30 of its stocks ending with losses For 2021-22 fiscal the BSE Sensex jumped 905936 points or 1829 per cent while the Nifty rallied 277405 points or 1888 per cent Even as markets ended the last day of the financial year in a rather quiet mood it has delivered a 19 per cent return this year on the Nifty with two sectoral indices – metals and media returning over 50 per cent this year On the broader market as well both the midcap-100 and smallcap-100 delivered over 25 per cent return this year Such returns in a year when FPIs have pulled out big money highlights the confidence of the Indian investor amidst a slew of headwinds according to S Ranganathan Head of Research at LKP Securities Among the 30-share pack Reliance Industries fell the most by 146 per cent Wipro declined by 144 per cent Dr Reddys by 104 per cent and Sun Pharma by 060 per cent HDFC Bank UltraTech Cement and Infosys also ended down On the other hand HUL rose the most by 166 per cent followed by Mahindra Mahindra by 159 per cent IndusInd Bank by 093 per cent Bharti Airtel by 080 per cent ITC by 066 per cent and Titan by 05 per cent Axis Bank which announced the acquisition of the India retail business of US-based Citi spurted by 139 per cent In the previous trade the 30-share BSE barometer index surged 74034 points or 128 per cent to settle at 5868399 Similarly the NSE Nifty climbed 17295 points or 1 per cent to settle at 1749825 In the broader market the BSE smallcap index gained 031 per cent and the midcap jumped 029 per cent Investors followed global market cues which were mostly weak as most of them had rallied in the last few sessions on fall in crude oil prices and expectations of some solution to the Russia-Ukraine conflict After seeing sharp gyration during the week investors exercised caution with a negative bias on the expiry day said Shrikant Chouhan Head of Equity Research Retail Kotak Securities Ltd Harsh Parekh Technical Analyst Bonanza Portfolio said Indian equity indices opened today on a positive note on the back of a weak US dollar and FPI turning buyers But indices turned volatile in afternoon trade and ended the three-day winning run In Asia equity exchanges in Shanghai Tokyo and Hong Kong ended lower while Seoul settled with gains Markets in Europe were mostly trading lower Stock exchanges in the US ended on a negative note in the overnight session Meanwhile international oil benchmark Brent crude tumbled 509 per cent to USD 10768 per barrel on reports that the US was considering releasing a record 180 million barrels of oil from strategic reserves Foreign Institutional Investors FIIs were buyers as they bought shares worth Rs 135747 crore on a net basis on Wednesday according to stock exchange data PTI SUM MR MR
