The key benchmark indices snapped their 3-day winning run as traders preferred to book profits following the recent smart gains, given the unpredictable news flow around the Omicron threat.
The BSE benchmark index had touched a high of 57,624 in opening trades helped positive overseas cues, but soon dipped into red and dropped to a low of 56,813 – down 810 points from the day’s high. The BSE index, thereafter, did recoup losses in intraday deals but eventually ended 191 points lower at 57,124.
In the process, the BSE Sensex ended the week with a marginal gain of 84 points.
The NSE Nifty moved in a range of 246 points, from a high of 17,156, the index tested a low of low of 16,910 and finally finished with a loss of 69 points at 17,004.
HCL Technologies was the top gainer among the Sensex 30 stocks, it gained 3 per cent at 1,265 on the back of heavy volumes amid buzz that the promoters were suppose to buyback shares from the open market at a 5 per cent premium. READ MORE
Market Dashboard: Snapshot of key movers and shakers in trade today
Tech Mahindra was the other major gainer, up 2.3 per cent. Asian Paints, Wipro, Infosys and ITC were the other notable gainers.
On the flip side, NTPC shed 2.7 per cent and was the top Sensex loser. Mahindra & Mahindra, Kotak Bank, UltraTech Cement, Axis Bank, Bajaj Finserv, HDFC, PowerGrid Corporation, IndusInd Bank, Tata Steel, Dr.Reddy’s, Larsen & Toubro, SBI and Sun Pharma were the other prominent losers, all down over
Debutant, Data Patterns (India) Ltd surged to a high of Rs 864 on debut, a solid 47.7 per cent premium to its issue price of Rs 585. The vertically integrated defense and aerospace electronics solutions provider, thereafter pared some gains, but still ended with a smart gain of 28.3 per cent at Rs 750. READ MORE
In the broader markets, the BSE Midcap and Smallcap indices ended with losses of 1.2 per cent and 0.6 per cent, respectively. The overall breadth too was slightly negative, with 1,767 stocks declining versus 1,563 advancing shares on the BSE.
In the broader market, L&T Finance Holdings tanked 6.7 per cent to Rs 77.10 on heavy volumes after the company announced stake sale in its Asset Management business. The company has entered into a definitive agreement with HSBC Asset Management India (HSBC AMC) to sell its wholly-owned subsidiary L&T Investment Management (LTIM) for an aggregate amount of $425 million. READ MORE
Among sectoral indices, the BSE Power index slumped 1.8 per cent. The Realty and Oil & Gas indices were the other major losers. The Auto index and Bankex were down nearly a per cent each. The IT index, however, finished 0.7 per cent higher.
