Broadly negative global indices, coupled with foreign fund outflows and rupee depreciation, dragged the Indian equity markets lower on Thursday. The key indices closed in the red, as selling pressure was witnessed in metal, banking and capital goods stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 82.20 points or 1.02% to 7,979.10 points. Headline Sensex index on Thursday tanked 263 points, extending its falling streak to the seventh consecutive session, and ended below the crucial psychological level of 26,000. The Sensex touched a high of 26,248.45 points and a low of 25,940.14 points during the intra-day trade.
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Sentiments remained down-beat after Prime Minister Narendra Modi’s top economic adviser Bibek Debroy has said that the negative shock from demonetisation will last until the end of March, though he also said that improved growth next year should fully compensate for the loss.
The India VIX (Volatility) index was up 5.76% at 15.55. The BSE Midcap closed at 11,809 and Smallcap indices closed at 11,802. Out of 1,887 stocks traded on the NSE, 886 declined and 316 advanced today. The BSE market breadth was skewed in favour of the bears - with 1,990 declines and 660 advances. A total of six stocks registered a fresh 52-week high in trade today, whereas 31 stocks touched a new 52-week low on the NSE.
It was the first time since March 2015 that the domestic equity market has ended in the red for seventh session in a row. In the midcap and smallcap segments, the S&P BSE Midcap index closed at 11,808, down 176 points, while the S&P BSE Smallcap index ended at 11,801, down 149 points. In the sectoral landscape, metal stocks shed most weight followed by basic materials and consumer durables stocks. The S&P BSE Metal index plunged 286 points to close at 10,021.
The Indian Rupee was trading lower by three paise at 67.93 per dollar. Gold was trading at Rs26, 918 per 10 grams and silver was trading at Rs38, 983 per kg.
The top gainers and top losers of the major indices are given in the table below:
China stocks ended marginally lower as strength in the shares of state-owned enterprises (SOE) was offset by persisting tight liquidity in the wake of a bond scandal. The CSI300 index fell 0.1% to 3,335 points, while the Shanghai Composite Index lost 0.1% to 3,140 points. Japan's Nikkei slipped from one-year high as investors booked profits on recent gainers. The Nikkei dropped 0.1% to 19,427. The broader Topix fell 0.1% to 1,543. Hang Seng slipped 1%. European stocks opened in the red.
The closing values of the major Asian indices are given in the table below: