Closing Bell: Market extends losses, Nifty holds 17800

Closing Bell: Market extends losses, Nifty holds 17800

by 5paisa Research Team Last Updated: 2022-04-06T16:31:12+05:30

Domestic equity bourses started today's session on a negative note tracking weakness across global markets as losses in financial, IT and consumer shares dragged the headline indices lower.

The Indian equity market fell for the second straight session on Wednesday, pulled by financial and information technology (IT) names. Market participants turned cautious amid a rise in oil prices and prospects of an aggressive rate hike by the US Federal Reserve. Thus, the market closed lower for the second consecutive day today.

At the closing bell on April 6, the Sensex was down 566.09 points or 0.94% at 59,610.41, and the Nifty was down 149.70 points or 0.83% at 17,807.70. On the market breadth, around 2094 shares have advanced, 1229 shares declined, and 92 shares are unchanged.

Top Nifty losers of the day include HDFC Bank, HDFC, HDFC Life, HCL Technologies and Tech Mahindra, top gainers were Coal India, IOC, NTPC, Tata Steel and Power Grid Corp were the top gainers. Among the top laggards, HDFC twins (HDFC and HDFC Bank) were the top Nifty losers as the stocks lost 3.30% and 3.59%, respectively. HDFC twins had gained nearly 10% each on Monday after the merger announcement. Both the stocks have declined since then.

On the sectoral basis, Oil & gas, power and metal indices gained 1% each, while bank and IT indices fell 1% each. In the broad markets, the BSE midcap and smallcap indices ended with marginal gains.

IRCTC stock slumpped 4% on reports of the government selling over 3% via OFS. Marico slips 4% after the company indicated a low revenue growth in Q4.

In the currency market, the Indian rupee ended lower by 44 paise at 75.76 per dollar against Tuesday’s close of 75.32.


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