Indian equity market extended losses for the sixth straight session on Friday, amid mixed global markets, unabated foreign fund outflows, and rising crude oil prices. Sensex declined 135.37 points or 0.26 per cent to settle at 51,360.42. During the day, the benchmark tanked 574.57 points or 1.11 per cent to its one-year low of 50,921.22. Nifty fell 67.10 points or 0.44 per cent to close at 15,293.50.
Titan, Wipro, Dr Reddy's, Asian Paints, Sun Pharma, PowerGrid, Larsen & Toubro, UltraTech Cement, Maruti, TCS and Hindustan Unilever were the biggest Sensex losers, falling up to 6.06 per cent.
Bajaj Finance, Bajaj Finserv, Reliance Industries and ICICI Bank were among the top Sensex gainers, rising up to 2.63 per cent.
BSE midcap and small cap indices slipped 145 points and 213 points, respectively.
Consumer durables and oil and gas shares were the top sectoral losers with their BSE indices ending 931 and 544 points lower, respectively.
Market cap of BSE-listed firms fell to Rs 236.77 lakh crore against Rs 239.20 lakh crore market cap in the previous session.
Prashanth Tapse, Vice President (Research), Mehta Equities said, "Markets failed to defend its intra-day gains and eased further amid a sharp rise in US bond yields. The 10-year US Treasury yields skyrocketed to 11-year high at 3.48% and the market participants suspect a shot till 4% by end of 2022. The fact that the Fed has stepped up to raise rates faster, the street suspects the RBI will have to catch up with the Hawkish Fed."
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 3,257.65 crore on Thursday, as per exchange data.
"The dominant theme impacting equity markets globally is the synchronised global monetary tightening and the consequent fears of economic slowdown," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Meanwhile, the rupee pared initial gains to close just 1 paisa higher at 78.09 against the US dollar amid a muted trend in domestic equities and unabated foreign capital outflows.
A strong dollar overseas and higher crude prices also kept the domestic unit under pressure, forex dealers said.
At the interbank forex market, the rupee opened strong at 78.03 against the greenback and witnessed an intra-day high of 78.02 and a low of 78.09.
In Asia, markets in Tokyo and Seoul ended lower, while Hong Kong and Shanghai posted gains. European markets were trading in the green in mid-session deals. Stock exchanges in the US ended sharply lower on Thursday. Meanwhile, international oil benchmark Brent crude jumped 0.96 per cent to $120.96 per barrel.
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