Share Market Today: Sensex Tanks 733 Points; Nifty Ends Below 22,500 In Broad-Based Selling

Share Market Today: On the 30-share Sensex platform, L&T, Maruti, Nestle, Reliance, Airtel, UltraCemco emerged losers. Bajaj twins, M&M, SBI, ICICI Bank, and Infosys were the only gainers

In the broader markets, the BSE MidCap and SmallCap indices declined 0.2 per cent and 0.55 per cent, respectively. 

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The two key equity benchmarks, Sensex and Nifty, on Friday closed much lower tracking broad-based selling. The S&P BSE Sensex sank 733 points to end at 73,878. On the other hand, the NSE Nifty settled at 22,476, down 173 points. The BSE Sensex tanked 1,143 points intraday to hit a low of 73,468, while the Nifty50 dropped below the 22,350-mark. 

Stock update

On the 30-share Sensex platform, L&T, Maruti, Nestle, Reliance, Airtel, UltraCemco emerged losers. On the flip side, Bajaj twins, M&M, SBI, ICICI Bank, and Infosys were the only gainers.

In the broader markets, the BSE MidCap and SmallCap indices declined 0.2 per cent and 0.55 per cent, respectively. 

India VIX, meanwhile, jumped nearly 9 per cent.

Sectoral update

Sectorwise, except metal, all other indices closed in the red with capital goods, oil & gas, realty, telecom, and PSU Bank slipped 1 per cent each.

In the previous session on Thursday, the BSE Sensex jumped 128 points to 74,611, while the NSE Nifty50 closed at 22,648, up 43 points.

"Once again, the markets experienced significant volatility, ending the day with a loss of nearly one per cent. Despite a positive start driven by strong global cues, profit-taking in heavyweight stocks not only wiped out early gains but also pushed the index into negative territory," said Ajit Mishra - SVP, Research, Religare Broking Ltd.

Global market updates

In Asian markets, Hong Kong settled in the positive territory, while Seoul ended lower. Markets in Tokyo and Shanghai were closed for the holidays. European markets were trading in the green. Wall Street ended with gains on Thursday.

Global oil benchmark Brent crude declined 0.06 per cent to $83.62 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 964.47 crore on Thursday, according to exchange data.

Rupee gains 3 paise

Meanwhile, the rupee appreciated 3 paise to settle at 83.43 (provisional) against the US dollar on Friday, tracking a weak American currency and retreating crude oil prices. Forex traders said a massive selling in the domestic equity market and outflow of foreign funds capped the gains in the local currency.

At the interbank foreign exchange, the domestic unit opened at 83.40 and moved in the range of 83.34 and 83.44 against the greenback during the session. The local unit finally settled at 83.43 (provisional) against the dollar, registering a rise of 3 paise from its previous close. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday.