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The bears have maintained their grip on the market with benchmark indices trading lower during the afternoon on Friday.
Market opened on weak note after three consecutive sessions of losses, following negative global cues, amid sell-off in global markets. Indices extended losses in the first half, witnessing selling pressure across multiple counters. Auto and FMCG provided some support to the markets.
At 1 pm, the BSE Sensex was trading at 59,195.38, down 269.24 points or 0.45 per cent. It recorded an intraday high of 59,214.90 and a low of 58,683.01. The Nifty 50 was trading at 17,671.10, down 85.90 points or 0.48 per cent. It recorded an intraday high of 17,680.10 and a low of 17,525.35.
The volatility index jumped 5.36 per cent to 18.75, signalling caution among investors.
Bajaj Auto, Hero MotoCorp, Tata Consumer, Maruti and Hindustan Unilever were the top gainers on the Nifty 50 while Shree Cement, Bajaj Finserv, Coal India, Divi’s Lab and Tech Mahindra were the top laggards. FII selling, inflation concerns and geopolitical tensions (Russia-Ukraine) have negatively impacted market sentiments this week.
Auto, FMCG in focus
On the sectoral front, all indices except Nifty Auto and Nifty FMCG were in the red.
Nifty Auto and Nifty FMCG were trading 0.76 per cent and 0.47 per cent higher, respectively.
Meanwhile, Nifty PSU Bank was down 1.94 per cent. Nifty Consumer Durables was down 1.64 per cent while Nifty IT was down 1.06 per cent. Nifty Metal, Nifty Pharma and Nifty Healthcare Index were down 0.93 per cent, 0.96 per cent and 0.7 per cent, respectively. Nifty Realty was down 0.70 per cent. Nifty Bank and Nifty Private Bank were down 0.67 per cent and 0.75 per cent, respectively. Nifty Oil & Gas was down 0.67 per cent.
Broader indices
Broader market continued to remain under pressure.
Nifty Midcap 50 was down 0.99 per cent while Nifty Smallcap 50 was down 0.89 per cent. The S&P BSE Midcap was down 0.80 per cent while the S&P BSE Smallcap was down 0.55 per cent.
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