The domestic stock markets erased the entire week’s gains after the Sensex and Nifty plunged on Friday amid a larger global sell-off. The BSE Sensex closed 689.60 points or 1.89% lower to 35,742.07, while the broader Nifty50 closed 198 points or 1.81% lower at 10,754. Notably, the headline indices witnessed heavy selloff after investors booked profits in realty, banking, IT and auto bluechips amid weak signals from global markets. We bring to you four key things to know from Sensex and Nifty’s session today.
Global market sell-off spooked investors
Investors took cues from world markets, which tumbled on fears of a potential US government shutdown and rising tension between the US and China. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 386.44 crore on Thursday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 87.96 crore, provisional data available with BSE showed. The rupee, meanwhile, fell 52 paise to 70.22 against the US dollar. Brent crude, the international benchmark, was trading 0.96 per cent lower at 53.83 per barrel in futures trade.
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Profit booking at play
With the markets approaching year end, and ahead of the long holiday season, investors were on a profit booking mode, according to analysts. “Generally, we do see some profit booking towards the end of the year and this time, especially the last couple of days, we have seen Indian markets react to global news,” said Anand James, chief market strategist at Geojit Financial Services told Reuters, adding that this could add to some volatility but overall the house expects Nifty to be rangebound between 10,700 and 11,200 in the short term.
Negative returns in the week
Interestingly, after today’s plunge, the benchmark indices have turned negative for the week, with Sensex 219.93 pts from 14th December’s close of 35,962.93. Notably, the Nifty has plunged by about 51.45 points from previous week’s close of 10,805.45.
Top 5 Sensex gainers and losers in the week
Sensex gainers for the week: Power Grid (6.15%), Tata Motors (5.39%), NTPC (4.91%), Tata Motors (4.86%) and Asian Paints (3.56%)
Sensex losers for the week : Infosys (-8.15%), TCS (-4.62%), Wipro (4.1%), Bharti Airtel (3.51%) and Hindustan Unilever (2.87%)