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Sensex slips 1,600 points from record high as post-Budget rally fizzles out

Nifty too has lost 450 points from all-time high of 15,431 till dat.This has led the market wealth to shrink by Rs 1.82 lakh crore from record high of Rs 205.80 lakh crore hit on February 16

Aseem Thapliyal | February 19, 2021 | Updated 19:02 IST
Sensex slips 1,600 points from record high as post-Budget rally fizzles out
The decline in market cap came today after Sensex tumbled 435 points to 50,889 and Nifty slumped 137.20 points to 14,981.

The post Budget rally fizzled out this week with Sensex losing 1,265 points in last four sessions. The index, which closed at all-time high of 52,154 on February 15, closed at 50,889 today. Nifty too has lost 333 points since Monday after the index closed at 14,981 today. On February 15, the index closed at a record level of 15,314.

From the record high of 52,516 hit on February 16, Sensex has lost 1,627 points till date. Nifty too has lost 450 points from all-time high of 15,431 till date.

On January 29, Sensex ended 588.59 points lower at 46,285. Similarly, Nifty closed 182.95 points lower at 13,634.

The post Budget rally added 6,231 points to Sensex and 1,797 points to Nifty till February 16. 

Market wealth has declined by Rs 1.82 lakh crore from record high of Rs 205.80 lakh crore hit on February 16. Market cap on BSE fell to Rs 203.98 lakh crore today.

The decline in market cap came today after Sensex tumbled 435 points to 50,889 and Nifty slumped 137.20 points to 14,981. During the week, Sensex fell 654.54 points or 1.26 per cent, and Nifty declined 181.55 points or 1.19 per cent.

ONGC was the biggest laggard in Friday's session, tumbling 5.06 per cent followed by SBI, Axis Bank, ICICI Bank, Bajaj Auto, Maruti and M&M, which shed up to 3.77 per cent.

Top losers today: List of 5 shares that fell up to 5%; ONGC, Tata Steel, SBI, Axis Bank, ICICI Bank

On Sensex, IndusInd Bank, HUL, Dr Reddy's, NTPC, Reliance Industries and Bajaj Finserv were among the gainers, climbing up to 1.97 per cent.

Vinod Nair, Head of Research at Geojit Financial Services said, "The market was largely in a consolidation phase throughout the week following weak global cues. Bears took control of the markets across the globe as worries of increasing US Bond yield and inflation kept investors mood gloomy. We expect the domestic market to continue following the global markets in the coming week due to lack of any major domestic events. While, GDP data for the 3rd quarter which is to be released towards the end of next week, is expected to show signs of economic recovery adding positive momentum in Indian market"

Meanwhile, market breadth was negative with 1,119 stocks ending higher against 1,839 ending lower on BSE. 173 stocks were unchanged.

Number of shares rising to their 52-week highs stood at 249 against 36 touching their 52-week lows. 264 stocks hit their upper circuits against 244 falling to their lower circuits, respectively.

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