Closing Bell: Headline indices tumble, Nifty falls below 17200
It wasn't a good day for the domestic bourses Sensex and Nifty today as losses across sectors pulled the benchmarks lower, with financial, IT, banks and metal shares dragged the market.
Indian equity market settled lower on the last trading day of the week, pulled by selling pressure across all sectors. The domestic indices halted their two-day winning run to finish the week on a lower note. Participants were cautious after the US Federal Reserve hinted at an aggressive rate hike of half percentage point, along with high inflation concerns.
Federal Reserve Chairman Jerome Powell said a half-point interest rate increase will be "on the table" when the Fed meets in May. In March, the Fed had raised rates from near zero to a quarter percentage point. Owing to these developments Indian market snapped the winning streak and ended lower.
At the closing bell on april 22, the Sensex was down 714.53 points or 1.23% at 57,197.15, and the Nifty was down 220.60 points or 1.27% at 17,172. On the market depth, around 1447 shares have advanced, 1882 shares declined, and 115 shares are unchanged.
Top Nifty losers of the day include Hindalco Industries, SBI, Cipla, IndusInd Bank and HUL, while top gainers were Adani Ports, M&M, Bharti Airtel, ITC and Maruti Suzuki. In the top drags, Hindalco was the top Nifty loser as the stock cracked 4.85% and stands at Rs 514.05. Also among the stock buzzers, index heavyweight Reliance Industries (RIL) paused its three-day rally to settle 0.85% lower at Rs 2,758.45. RIL had touched an all-time high of Rs 2,788.80 on Thursday.
Sector wise capital goods, bank, healthcare, metal and realty went down 1-2% each. In the broad market, the BSE midcap and smallcap closed in the red.
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