After closing in the red on Friday, the Sensex and Nifty50 benchmark indices opened in the red on Monday. The BSE Sensex fell 500 points to 56,528, while the NSE Nifty lost 131 points to 16,970. Among the Sensex-30 stocks, Infosys, Tech M, Bajaj Twins, Maruti, Asian Paints, Sun Pharma, Titan, L&T and HDFC twins were the biggest laggards. IndusInd Bank, NTPC and Axis Bank were meanwhile the only stocks in the green.
IndusInd Bank, NTPC and Axis Bank were meanwhile the only stocks in the green on Sensex. Tata Motors and Divi’s Labs were the additional winners on the Nifty.
In the broader markets, the BSE MidCap and SmallCap indices were also in negative territory, up 0.6 percent.
Sector-wise, Nifty Auto, IT, finance, metals and consumer discretionary were the biggest losers, falling to 1 percent. Convenient private bank, meanwhile, went flat.
Among the shares, IndusInd Bank was the main Sensex winner, up 4 percent on strong Q4 results. The lender reported a 51 percent increase in net income, helped by lower provisions and higher net interest income. Net profit for the quarter totaled Rs 1,401 crore compared to Rs 926 crore in the same period a year ago.
Just Dial, on the other hand, fell by 3 percent. The company’s consolidated net profit in the fourth quarter was down 34.3 percent to Rs 22.05 crore for the quarter ended March 2022 versus Rs 33.57 crore in the year-ago quarter.
Global clues
The Dow Jones Industrial Average fell more than 900 points on Friday as another sharp sell-off, led by technology stocks, added to Wall Street’s losses in April, giving the S&P 500 its biggest monthly slip since the start of the pandemic. The S&P 500 fell 155.57 points to 4,131.93 on Friday. The Dow fell 939.18 points to 32,977.21. The Nasdaq fell by 536.89 points to 12,334.64. The benchmark S&P 500 fell 3.6 percent and ended April with a loss of 8.8 percent, its worst monthly decline since March 2020. The Dow fell 2.8 percent.
The financial markets in China, Hong Kong, Indonesia, Singapore, Taiwan and Thailand will be closed on Monday for holidays.
Shares of Tokyo fell Monday in the run-up to three consecutive holidays as investors focused on an upcoming monetary policy meeting of the US Federal Reserve. The Nikkei 225 index opened flat and then fell 0.52 percent or 139.55 points to 26,708.35 in morning trading, while the broader Topix index fell 0.23 percent or 4.33 points to 1,894.73.
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