Stock Market HIGHLIGHTS: Bears rule the roost as Sensex, Nifty bleed on profit-booking on weekly exp – Zee Business

Stock Market HIGHLIGHTS: It was a virtual walkover for bears on Dalal Street as frontline indices S&P BSE Sensex and NSE Nifty50 ended Thursday’s session in deep red. Sensex closed at 61,799.03, down 878 points 1.40 per cent while Nifty50 finished at 18,414.90, 245 points or 0.59 per cent lower from Wednesday’s closing. Banking gauge Nifty Bank settled at 43,498.20, dropping 551 points or 1.25 per cent.
Here are top highlights from the day’s action:
1) Both Sensex and Nifty50 opened with gap down and widened the losses as the session progressed. The negative closing comes on the heels of Federal Reserve’s 50 bps interest rate hike and forward guidance on inflation and GDP. The Fed Chair lowered GDP growth estimates for FY23 while highlighting inflation situation outlook. 
Also Read: FOMC Meeting December 2022 HIGHLIGHTS: Fed slows pace of rate hike to 50 bps; brings funds rate at 4.25-4.5% range
2) All 15 Nifty sectoral indices ended in the red but the culprit for today’s fall were Nifty Bank (-1.25 per cent, Nifty IT (-2.11 per cent) and Nifty Metal (-1.43 per cent). Infosys and HDFC Bank accounted for the lion share of fall in frontline indices. 
3) In the 50-stock Nifty50, 5 advanced against 45 declines. The top gainers were NTPC, Hero Moto Corp, Britannia Industries, SBI Life and Sun Pharmaceuticals while the top losers were Tech Mahindra, Titan, Infosys, Grasim Industries and Eicher Motors.
4) India VIX, a gauge of volatility in Nifty was up 6.57 per cent to 13.73. 
5) Profit booking was visible even in the broader markets. Nifty Mid Cap 100 was trading at 32,530.75, down 1.01 per cent. In the 100 stock index, 19 stocks advanced, 80 declined while 1 remained unchanged. The top gainers were Linde India, Gujarat Gas and Hindustan Petroleum while the top losers were Bank of India, Union Bank and Tube Investments. The Nifty Small Cap 100 index ended at 10,080.95, down 0.57 per cent. 26 stocks gained while 74 stocks declined in the 100-stock index. The top gainers were Sterlite Technologies, JB Chemicals and Indiabulls Housing Finance while the top losers were Medplus Health Services, Campus and Metropolis Health. 
6) Out of 3,680 stocks that traded on BSE, 1,405 advanced, 2,152 declined while 123 remained unchanged. Number of stocks that hit their 52-week lows were 26 while 154 hit their 52-week highs.
7) Singapore-based SGX Nifty futures an early indicator of movement in NIfty50 was trading at 18,459.5, down 290 points 1.55 per cent while Dow Futures were trading at 33,716.50, down 250 points 0.74 per cent.  
8) Asian benchmark traded with negative bias today as Nikkei 225 ended at 28,051.70, down over 100 points pr 0,37 per cent while China’s Shanghai Composite finished at 3,168.65, down 8 points or0.25 per cent. Hang Seng was down 1.55 per cent or nearly 300 points at 19,368.59.
9) The rupee declined by 27 paise to close at 82.76 (provisional) against the US dollar on Thursday after the US Federal Reserve’s interest rate hike and its hawkish stance dented investor sentiments.
A massive sell-off in domestic equities and a strong greenback overseas also weighed on the local unit, forex traders said. At the interbank foreign exchange market, the rupee opened sharply lower at 82.63 against the greenback and witnessed a high of 82.41 and a low of 82.77. It finally settled at 82.76, down 27 paise over its previous close of 82.49. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.56 per cent to 104.35. PTI
10) Brent crude futures, the global oil benchmark, dropped 0.76 per cent to USD 76.54 per barrel. February gold futures fell by Rs 615 or 1.12 per cent on MCX and were trading at Rs 54059 while March Silver futures were trading at Rs 67730, down Rs 1572 or 2.27 per cent.
11) IRCTC shares fell over 6 per cent on NSE and ended at Rs 687.15.
Catch all the updates from the stock markets here. For all other news related to business, politics, tech, personal finance, auto and more, visit Zeebiz.com.
This is all that we have from the stock markets. I will be back with all the LIVE action from markets when they resume trading on Friday, 16 December 2022.
This is all that we have from the stock markets. I will be back with all the LIVE action from markets when they resume trading on Friday, 16 December 2022.
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— Zee Business (@ZeeBusiness) December 15, 2022
 
Fertiliser companies’ shares were  firing on all cylinders as they spurted up to 20 per cent on the BSE during Thursday’s trading session in otherwise weak market. Madras Fertilizers (MFL) shares have hit an upper circuit of 20 per cent to Rs 73.80 apiece, followed by Fertilisers & Chemicals Travancore (FACT) which has rallied 20 per cent to Rs 223.6 per share. National Fertilizers (NFL) jumped over 13 per cent to Rs 70.4 per share and Rashtriya Chemicals & Fertilizers (RCF) shares grew almost 10 per cent at Rs 144.8 apiece on the BSE intraday.
All the above-mentioned fertiliser stocks – MFL, FACT, NFL and RCF – have touched their respective 52-week highs on Thursday by buzzing in the trade.
Among other fertiliser stocks such as Khaitan Chemicals & Fertilisers, Mangalore Chemicals & Fertilisers have also jumped around 10 per cent, while Deepak Fertiliser and Chambal Fertiliser each surged between 2-3 per cent on the BSE intraday today.
Markets Live – Sensex fell nearly 900 points minutes before the end of today’s trading session and the catalyst n this fall is Infosys in terms of Index Contributor.  
Source: BSE
Profit booking was visible even in the broader markets. Nifty Mid Cap 100 was trading at 32,574.75, down 288.45 poisnts or 0.88 per cent. In the 100 stock index, 27 stocks advaced, 71 declined while 2 remained unchanged. The top gainers were Linde India, Prestige Estates Projects and Hindustan Petroleum while the top losers were Bank of India, Union Bank and Poonawalla Fincorp.
In the Nifty Small Cap Index, 28 stocks gained while 72 stocks declined in the 100-stock index. The top gainers were Sterlite Technologies, Indiabulls Housing Finance and Sapphire Foods India while the top losers were Medplus Health Services, Campus and Metropolis Health. 
“As the FED remained hawkish in its view on US interest rates to tackle inflation without being afraid of impending recession, risky assets  got sold off though European currencies were still up but down from their recent highs,” Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.
The dollar index rose from 103.50 to 104.25 as market awaited for the interest rate meetings of BOE and ECB this evening, Bhansali said.
“Indian rupee rose to 82.42 after opening at 82.65 due to flows of a commercial Bank’s stake buy today also. But then oil companies were ready to buy this dollar weakness and at the time of writing the rupee had weakened to 82.75. Most Asian currencies  fell against the $ strength and Asian and European equities were all down with Asian equities bearing the major brunt fown by 1-2 per cent. Exporters need to  sell in the RBIs domain that too for the near term only around 82.90. Importers have to keep buying $ to make payments of their imports payable at all possible dips and major dips. This hawkishness of FED is going to be harsh on risky assets” he further said.
Brent Oil was stable at $ 82.25 per barrel while US 10 year  was at 3.50%. 
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
 
 



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Source: NSE


Not just the equity markets, pressure was seen even in the commodity markets. February Gold futures fell by over Rs 700 per 10 gram on the MCX and were trading at Rs 53951, down by 1.32 per cent. Meanwhile, March Silver futures were trading at Rs 67615 per kg, down 1687 or 2.43 per cent. 
 Source: MCX
In the 12-stock Nifty PSU BAnk index, 7 stocks gained with Indian Overseas Bank as the biggest gainer. The stock was up nearly 3 per cent on the NSE and was followed by Uco Bank. The losers were Bank of Baroda, Union Bank and State Bank of India. In the Nifty Bank Index, Federal Bank and PNB were top gainers. The pressure in Nifty Bank was because of heavyweights like HDFC BAnk, ICICI Bank and Indusind Bank. 
In the 12-stock Nifty PSU BAnk index, 7 stocks gained with Indian Overseas Bank as the biggest gainer. The stock was up nearly 3 per cent on the NSE and was followed by Uco Bank. The losers were Bank of Baroda, Union Bank and State Bank of India. In the Nifty Bank Index, Federal Bank and PNB were top gainers. The pressure in Nifty Bank was because of heavyweights like HDFC BAnk, ICICI Bank and Indusind Bank. 
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