AgenciesIt was yet another disappointing session for Dalal Street investors as the benchmark indices extended losses after a gap-down start on Tuesday.
Losses across sectors pulled the headline indices lower, with the 30-share pack Sensex declining 388 points or 0.66% to settle at 58,576.37. Its broader peer Nifty fell 144 points or 0.82% to end below the 17,600 mark.
The market weighed an array of risks and braced for domestic inflation data due later today for cues on the impact of price surge on companies. The US CPI Inflation print for March is also due today. Global developments and demand worries in China dragged metal stocks as investors were in a risk-off mode during this holiday-shortened week.
Only 8 of the 30 Sensex stocks settled in the green. Bank stocks were the top gainers of today's session, with Axis Bank and Kotak Mahindra Bank rising over 1% each.
IT counters also settled with cuts after TCS failed to hold earlier gains after reporting Q4 revenue numbers with in-line analysts' expectations.
"Hyperinflation & risk of a policy rate hike are placing the global market on its toes and are impacting the performance of equities with a rise in yield. Inflation in India is also expected to be on the higher side in Q1FY23, it is expected to subside due to a reversal of commodity prices and improvement in supply," said Vinod Nair of Geojit Financial Services.
The domestic market is also cautious in anticipation of Q4 results, Nair added.
Market at a Glance
Gainers & Losers
41 Nifty stocks closed in the red. Hindalco, Coal India, and Grasim were the top laggards. However, Axis Bank, Kotak Mahindra Bank, Power Grid Corporation, SBI Life Insurance and Maruti Suzuki managed to settle with gains.
Sectoral Matrix
Except for Nifty Bank, all other sectoral indices ended lower, with IT, metal, realty, oil & gas indexes falling 1-3% each Ahead of earnings, Infosys also extended losses and closed 1.5% lower. The midcap index fell almost 2%, posting its biggest single-day fall in more than a month.
Index Statistics
Market breadth favoured declines as 1,166 stocks advanced, while 2,253 stocks declined and 97 remained unchained. 179 stocks tested their 52-week highs, whereas 9 others tested their 52-week lows. 9 stocks hit their upper circuit limit, while only 1 stock was locked in the lower circuit.
Losses across sectors pulled the headline indices lower, with the 30-share pack Sensex declining 388 points or 0.66% to settle at 58,576.37. Its broader peer Nifty fell 144 points or 0.82% to end below the 17,600 mark.
The market weighed an array of risks and braced for domestic inflation data due later today for cues on the impact of price surge on companies. The US CPI Inflation print for March is also due today. Global developments and demand worries in China dragged metal stocks as investors were in a risk-off mode during this holiday-shortened week.
Only 8 of the 30 Sensex stocks settled in the green. Bank stocks were the top gainers of today's session, with Axis Bank and Kotak Mahindra Bank rising over 1% each.
IT counters also settled with cuts after TCS failed to hold earlier gains after reporting Q4 revenue numbers with in-line analysts' expectations.
"Hyperinflation & risk of a policy rate hike are placing the global market on its toes and are impacting the performance of equities with a rise in yield. Inflation in India is also expected to be on the higher side in Q1FY23, it is expected to subside due to a reversal of commodity prices and improvement in supply," said Vinod Nair of Geojit Financial Services.
The domestic market is also cautious in anticipation of Q4 results, Nair added.
Market at a Glance
Gainers & Losers
41 Nifty stocks closed in the red. Hindalco, Coal India, and Grasim were the top laggards. However, Axis Bank, Kotak Mahindra Bank, Power Grid Corporation, SBI Life Insurance and Maruti Suzuki managed to settle with gains.
Sectoral Matrix
Except for Nifty Bank, all other sectoral indices ended lower, with IT, metal, realty, oil & gas indexes falling 1-3% each Ahead of earnings, Infosys also extended losses and closed 1.5% lower. The midcap index fell almost 2%, posting its biggest single-day fall in more than a month.
Index Statistics
Market breadth favoured declines as 1,166 stocks advanced, while 2,253 stocks declined and 97 remained unchained. 179 stocks tested their 52-week highs, whereas 9 others tested their 52-week lows. 9 stocks hit their upper circuit limit, while only 1 stock was locked in the lower circuit.
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