Sensex slides 460 points, plunges 2
时间:2024-06-17 06:38:43 阅读(143)
After trading within a 500-point range for the entire week, the Sensex ended in the red on Friday. The index has fallen 2.6% in April. The benchmark indices tumbled in the last hour of the trade on Friday, with Reliance Industries and Axis Bank primarily contributing to the fall. The overall sentiment remained weak over raging inflation and policy tightening signals from the Federal Reserve.
After Thursday’s purchase, foreign portfolio investors (FPIs) turned net sellers on Friday, having sold shares worth $477.3 million. In contrast, local investors purchased equities worth $456.6 million, provisional data on the bourses showed. Barring four sessions in April, FPIs were net sellers in each day of the month with the monthly sales tally hitting $3.86 billion.
Axis Bank, which reported a lower-than-expected operating profit for the March quarter, slid the most on the Sensex and Nifty. Its shares plunged 6.6% on Friday to hit one-month low of Rs 728.70 on the BSE. “Despite a gradual shift in its incremental loan mix towards higher-yielding loans, we do not yet see evidence of Axis Bank’s ability to exercise better pricing power, which remains a key driver for RoA reflation. We trim our FY22/FY23E earnings estimates by 4-5% each to factor in higher cost-to-assets,” observed analysts at HDFC Securities Institutional Research.
However, global markets were trading in the green supported by positive economic data from Germany and the euro zone. However, restrictions in Beijing and Russia’s confirmation to strike Kyiv during the UN visit capped the upside. Barring India, all the major indices in Asia ended the day in the green with Hang Seng and Shanghai Composite surging 4% and 2.4% respectively. European markets were trading about 1% higher.
All sectoral indices compiled by the BSE closed lower on Friday with BSE oil & gas, power falling 2.6% and 1.9%, respectively.
猜你喜欢
- India bond yields to debut 2024 with marginal uptick
- US stocks open higher following 7 straight weeks of losses
- FII, DII data- FPIs purchased shares worth Rs 317 cr, DIIs sold shares worth Rs 102 cr on October 13, Friday
- USISPF Strengthens Economic Bonds- Partnering with Vibrant Gujarat Global Summit 2024
- F&O outlook- Nifty may head to 17300, look for buying opportunities until short formations emerge
- Indian markets shut, a look at how global indices are performing
- US Stocks- Wall St set to slide at open as inflation data fuels rate hike bets
- UP- Dalit man sets himself on fire outside Unnao police chief’s office, dies
- F&O Outlook- Nifty may head towards 17700-17800, traders advised to maintain positive bias