scorecardresearch
Market snaps 3-day gaining streak: Sensex falls 359 points ahead of Q4 GDP data

Market snaps 3-day gaining streak: Sensex falls 359 points ahead of Q4 GDP data

Sensex fell 359 points to 55,566 and Nifty closed 77 points lower at 16,584. During the day, Sensex tanked 556.6 points or 0.99 per cent to 55,369.14.

Market cap of BSE-listed firms fell to Rs 257.79 lakh today against Rs 258.47 lakh crore market cap in the previous session.  Market cap of BSE-listed firms fell to Rs 257.79 lakh today against Rs 258.47 lakh crore market cap in the previous session.

The equity market snapped three days of gaining streak today as market participants got nervous ahead of release of Q4 GDP data. A jump in crude oil prices also weighed on the market sentiment, traders said.

Sensex fell 359 points to 55,566 and Nifty closed 77 points lower at 16,584. During the day, Sensex tanked 556.6 points or 0.99 per cent to 55,369.14.

Of 30 Sensex stocks, 15 ended higher. BSE mid-cap and small-cap indices gained 513 points and 570 points, respectively. M&M, NTPC, PowerGrid, Tech Mahindra, and Tata Steel were the top Sensex gainers, rising up to 3.61 per cent.

Sun Pharma, Kotak Mahindra Bank and HDFC were the top Sensex losers, falling up to 3.11 per cent.

BSE mid cap and small cap indices ended 112 points and 178 points higher, respectively. Banking shares led the losses with BSE bankex falling 439 points to 40,907. BSE consumer durables index too fell 296 points to 37,998.

Share Market update: Sensex falls 359 pts, Nifty ends below 16,600

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "Profit-booking at higher dragged the benchmark indices in an otherwise clueless market. With corporate earning seasons nearing an end, traders have started hunting for new clues to drive the market also a lot of shift in portfolios happening. Reality and Media continued the positive momentum whereas Banking and Energy stocks registered profit booking at higher levels."

ALSO READ: Adani Wilmar stock slips 5% in afternoon trade, here's why

Bank Nifty too fell 339 points to 35,487. Market cap of BSE-listed firms fell to Rs 257.79 lakh today against Rs 258.47 lakh crore market cap in the previous session.   Market breadth was positive with 1763 shares ending higher against 1591 stocks falling on BSE. 123 shares were unchanged.

Foreign institutional investors turned net buyers as they bought shares worth Rs 502.08 crore on Monday, as per stock exchange data.

The market ended higher for the third straight session on Monday amid positive global cues. Sensex rallied 1,041.08 points or 1.90 per cent to end at 55,925.74. Nifty jumped 308.95 points or 1.89 per cent to close at 16,661.40. Of 30 Sensex stocks, 26 ended higher.

Global markets

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong settled with gains, while Tokyo ended marginally lower. Markets in Europe were trading mostly lower during the afternoon trade. Stock markets in the US were closed for a holiday on Monday.

Meanwhile, international oil benchmark Brent crude jumped 1.64 per cent to $123.66 per barrel.