Sensex down 315 pts intraday, Nifty slips below 17,200

Benchmark indices were trading over half a per cent lower during the afternoon on Friday.

Market opened on a muted note amid weakness in Asian equities. Indices extended losses in the first half and were trading lower, witnessing selling pressure across multiple counters.

At 1 pm, the BSE Sensex was trading at 57,280.20, down 315.48 points or 0.55 per cent, near the day’s low of 57,249.97. It recorded an intraday high of 57,845.37. The Nifty 50 was trading at 17,132.75, down 90 points or 0.52 per cent. It recorded an intraday high of 17,294.90 and a low of 17,119.30.

Bajaj Auto, JSW Steel, Reliance, UPL and Hindalco were the top gainers on the Nifty 50 while Titan, Maruti, Cipla, Tech Mahindra and Nestle India were the top losers.

Multiple factors including uncertainty regarding the Russia-Ukraine crisis, rising crude oil prices, US Fed tightening and increasing Covid-19 cases across some parts of the world have kept investors on edge. 

Metals, realty in focus

On the sectoral front, metals, realty, PSU Bank and oil & gas managed to retain gains. Financials barring PSU Bank, auto, IT FMCG and pharma dragged.

Nifty Realty was up over one per cent while Nifty Metal was up 0.45 per cent.

Meanwhile, Nifty Consumer Durables was down nearly 2 per cent. Nifty FMCG, Nifty Auto, Nifty IT, Nifty Pharma and Nifty Healthcare Index were each down nearly one per cent. Nifty Bank and Nifty Finanical Services were each down nearly 0.5 per cent.

Broader indices

The broader market also faced pressure.

Nifty Midcap 50 was down 0.17 per cent while the Nifty Smallcap 50 was up 0.02 per cent. The S&P BSE Midcap and the S&P BSE Smallcap were each down 0.04 per cent.

The volatility index 0.44 per cent to 24.04.

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