Stock Market Ends Lower For 3rd Straight Day: Sensex Dips 232 pts; Nifty At 19,543. All Sectors In The Red

Stock update: On the 30-share Sensex platform, ITC, Tata Steel, HUL, SBI, JSW Steel, PowerGrid were among the losers. Kotak Bank, IndusInd Bank, TCS, NTPC, Nestle, HDFC Bank emerged gainers

The two key equity benchmarks, Sensex and Nifty, on Friday settled in the negative zone tracking weak global sentiment amid 10-year US Treasury bond yields hit the 5 per cent threshold. Brent Crude Oil prices also have soared above $93-level also weighed on the sentiment.

The S&P BSE Sensex, which hit a low of 65,309, ended 232 points lower at 65,398. The BSE benchmark has shed 1,031 points in the past three straight trading sessions. On the other hand, the NSE Nifty50 ended with a loss of 82 points at 19,543. Nifty hit a low of 19,519 during intraday.

On the 30-share Sensex platform, ITC, Tata Steel, HUL, SBI, JSW Steel, PowerGrid were among the losers. On the flip side, Kotak Bank, IndusInd Bank, TCS, NTPC, Nestle, HDFC Bank emerged gainers.

In the broader market, the BSE Midcap index declined 1 per cent, while the Smallcap dipped 0.8 per cent.

All the sectoral indices ended in the red with capital goods, metal, power, realty, oil & gas, FMCG, and pharma shed 0.5-1 per cent.

In the previous session on Thursday, the S&P BSE Sensex dropped about 248 points to close at 65,629, on the other hand, the NSE Nifty50 settled at 19,624.

Vinod Nair, Head of Research at Geojit Financial Services said, "The added uncertainty stemming from West Asia tensions and the imperative for continued monetary tightening emphasized by the US Fed Chair created a layer of volatility in the market. While heightened oil prices and elevated US bond yields will impact the domestic monetary environment and operational metrics of the companies." 

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the negative territory. European markets were trading lower. The US markets ended lower on Thursday.

Global oil benchmark Brent crude jumped 1.14 per cent to $93.40 a barrel. Brent crude, the international standard, picked up $1.29 to $93.67 per barrel as escalating Hamas-Israel conflict fueled supply concerns.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,093.47 crore on Thursday, according to exchange data.

Meanwhile, the rupee settled on a flat note at 83.13 (provisional) against the US dollar on Friday amid negative equity markets and rising crude oil prices. Selling pressure from foreign equity investors weighed on the domestic unit which has been under pressure due to a stronger American currency for the past few weeks, forex traders said.

At the interbank foreign exchange market, the local unit opened weak at 83.17 and traded between the peak of 83.03 and the lowest level of 83.20 against the greenback. The local unit finally settled flat at 83.13 (provisional). On Thursday, the rupee had risen 15 paise to close at 83.13 against the US dollar.