Bears dominate Sensex & Nifty; Tejas Networks gains 9 per cent, KRBL jumps 8 per cent, ONGC slips, PSU Bank index sheds 5 per cent

On Friday as well, the markets indicated bearish investor sentiments as Sensex ends below 51,000, declining by 434.93 points or 0.85 per cent to settle at 50,889.76 levels while Nifty fell by 137.20 points or 0.91 per cent to close at 14,981.75 levels.   

Increasing volatility in the markets and weak global cues continued to influence investors to book profits and wait on the sidelines. Mid-cap stocks, which were outperforming in the past, also declined in today’s session. The shares of PSU Banks dipped on Friday, which had gained in the previous trading session on unconfirmed reports stating that the said banks were to be privatised by the government in the next fiscal year.   

In the global markets, Asian indices such as Shanghai Composite index, Hang Seng, and KOSPI increased by 0.57 per cent, 0.16 per cent and 0.68 per cent, respectively while Nikkei fell by 0.72 per cent. In the European markets, FTSE 100, DAX, and CAC 40 were trading in the green, up by 0.06 per cent, 0.43 per cent and 0.44 per cent, respectively.  

Sensex gainers consisted of IndusInd Bank that gained 1.97 per cent, HUL inched higher by 1.56 per cent, Dr Reddy’s Laboratories rose by 1.46 per cent, NTPC was up by 0.87 per cent, RIL went up by 0.73 per cent, Bajaj Finserv increased by 0.51 per cent, TCS climbed by 0.46 per cent, etc.  

Sensex losers included ONGC that plunged 5.06 per cent, SBI tumbled 3.77 per cent, Axis Bank slumped 3.59 per cent, ICICI Bank decreased by 3.20 per cent, Bajaj Auto fell by 2.72 per cent, Maruti Suzuki went down by 2.23 per cent, Mahindra & Mahindra inched lower by 2.02 per cent, etc.  

Amongst sectoral indices on BSE, the Energy index was the only index to end the day in green, up by 0.26 per cent. BSE Auto index was the biggest loser, declining by 2.59 per cent. BSE Healthcare index fell by 1.54 per cent while BSE Metal index decreased by 2.09 per cent. BSE IT index also closed in red, down by a mere 0.09 per cent.  

The broader markets took a break from their outperformance as BSE Small-Cap index declined by 0.76 per cent while BSE Mid-Cap index fell by 1.67 per cent.