Informist, Wednesday, Feb 23, 2022
By Abhishek Saini
MUMBAI – Despite sustaining their gains for a major part of today’s session, selling in the last hour saw benchmark equity indices end lower for the sixth straight session as investors continued to monitor the tensions between Ukraine and Russia.
The recovery was visible across global equities today as Asian markets ended higher and US index futures were also trading up. Things looked even better after Russian President Vladimir Putin stated that the country is willing to look for a diplomatic resolution over Ukraine.
The statement came after many countries including the US, Australia, Japan, and Germany, imposed economic sanctions on Russia for ordering its troops to enter Ukraine.
The prices of Brent crude futures also dropped below the $97-per-barrel mark as equity markets looked set to snap their five-day losing streak. Brent crude futures had moved close to the crucial psychological figure of $100 per barrel on Tuesday.
However, the selling pressure returned and headline indices slipped into the red. Reports of Ukraine ordering its citizens to leave Russia with immediate effect, and calling for its reserve forces in preparations for a Russian invasion are likely to have triggered the late reaction.
The Nifty 50 index ended 0.2% lower at 17063.25 points, falling off its intra-day high of 17220.70 points. The Sensex also rose to an intra-day high of 57733.37 points, but ended 0.1% lower at 57232.06 points.
“Markets are gradually drifting lower amid excessive intraday volatility, mirroring the global markets. Meanwhile, a mixed trend on the sectoral front is further adding to the participants’ worries,” said Ajit Mishra, vice president, Religare Broking.
The expiry of the monthly derivatives series is also likely to have weighed on the indices. As on Tuesday, the rollovers stood at 37%, which was less than the average 40% rollover in the last three months.
Among frontline sectors, the information technology pack was pulled down by Tata Consultancy Services and mid-cap technology companies sich as Mindtree and Larsen & Toubro Infotech. The Nifty IT index remained in the green for a large part of the day but ended marginally lower.
The Nifty Bank index also fell off its intra-day highs as the overall market reversed its gains, but the sectoral index was able to end 0.1% higher at 37392.05 points.
After witnessing the brunt of selling over the past few sessions, mid-cap and small-cap indices on the NSE outperformed headline indices and eked out gains of 0.3-1.2%.
In stock-specific movement, shares of Future Retail ended nearly 6% higher after the Supreme Court today asked Amazon and Future Group to request the National Company Law Appellate Tribunal to expedite the judgement on the case concerning Amazon’s investment in Future Coupons.
Among the laggards, shares of Dhani Services fell another 10% today as the Enforcement Directorate’s raid at Indiabulls Finance Centre in Mumbai and Delhi continued to impact the sentiment around the stock. Dhani Services is the new name of Indiabulls Ventures.
* Among Nifty 50 stocks, 23 rose, 2 were unchanged and 25 fell
* Among Sensex stocks, 14 rose, 1 was unchanged and 15 fell
* On the NSE, 1,406 stocks rose, 656 fell and 44 were unchanged
* On the BSE, 2,197 stocks rose, 1,167 fell and 96 were unchanged
* Nifty Bank: Up 0.05%; Nifty Realty: Up 3.15%; Nifty Auto: Down 0.21%
BSE National Stock Exchange
Sensex: 57232.06, down 68.62 pts (0.12%) Nifty 50: 17063.25, down 28.95 pts (0.17%)
S&P BSE Sensitive Index Nifty 50
Lifetime High: 62245.43 (Oct 19) : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18) : Record Close High: 18477.05 (Oct 18)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17) : 2022 Closing High: 18308.10 (Jan 17)
2022 Closing Low: 56405.84 (Feb 14) : 2022 Closing Low: 16842.80 (Feb 14)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
2022 Low (intraday): 56295.70 (Feb 14) : 2022 Low (intraday): 16809.65 (Feb 14)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Arshad Hussain
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