Following US Fed Chairman Jerome Powell’s hawkish remarks, benchmark equity indices such as the BSE Sensex and NSE Nifty50 experienced a major correction, settling down by more than 1% each.
The 30-share Sensex ended Thursday’s trading session at 79,218.05. This is a 964.15 point or 1.20 percent, decline. The index fluctuated between 79,516.17 and 79,020.08.
The NSE Nifty50 settled at 23,951.70, down 247.15 points or 1.02%, in a similar manner. The Nifty50 fluctuated between 24,004.90 and 23,870.30.
Major Losers
With 36 out of the 50 stocks that make up the Nifty50 ending, the day concluded in favour of bears. The leading laggards, with final results down by as much as 2.33 per cent, were Bajaj Finance, Bajaj Finserv, Asian Paints, JSW Steel and Grasim.
Top Gainers
The 14 constituent stocks, on the other hand, ended up 4.04% higher, including Dr. Reddy’s, Cipla, BPCL, Sun Pharma and Apollo Hospital.
The benchmarks were also reflected in broader markets, as the Nifty Midcap100 and Nifty Smallcap100 indices ended the day 0.28 and 0.51% down, respectively.
The India VIX, a fear index that measures market volatility, concluded the day up 0.95 per cent at 14.51 points.
All sectoral indices ended in the red, barring Nifty Pharma and Healthcare, which ended in the green. Among others, all banking indices on NSE, along with IT, Financial Services, Consumer Durables, and Metal, ended down by 1 per cent each.
Except for Nifty Pharma and Healthcare, which finished in the green, other sectoral indices saw a decline.
All of the NSE’s banking indices, as well as those for IT, financial services, consumer durables and metal, all saw a 1% decline.
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