Sensex, Nifty log 6th straight day of loss on Ukraine jitters; auto, IT stocks drag

NEW DELHI: Bears managed to wrest control back from bulls on Wednesday, wiping out morning gains. The benchmark indices eventually slid for the sixth consecutive day dragged by selling in select banking and auto names. The situation at the Russia-Ukraine border remained precarious.

Though easing oil prices, despite sanctions imposed on Russia, boosted the morale of investors.

Most sectoral indices ended in the green. The 30-share pack Sensex declined 68.62 points or 0.12 per cent to close at 57,232.06. Its broader peer NSE Nifty dropped 28.95 points or 0.17 per cent to 17,063.25.


Market at a glance:

• Adani Wilmar saw buying on dips, advanced 10%
• Mahindra CIE lost 2% on disappointing Q3 results
• ONGC declined while BPCL rose as crude oil prices eased
• India VIX, barometer of future volatility, eases 8%
• PNC Infratech spiked 12% after bagging Rs 4,400-cr order

“The impact of geopolitical uncertainties and soaring fuel costs will continue to keep markets across the globe highly volatile,” said Vinod Nair, Head of Research at Geojit Financial Services.

Among the bluechip names, Kotak Mahindra Bank was the biggest gainer, rising 2.19 per cent.

Titan, IndusInd Bank, Tata Consumer, Maruti Suzuki, Bharat Petroleum and Hindalco were other major gainers.

ONGC was the top loser in the Nifty pack, falling 2.39 per cent. Hero MotoCorp, NTPC, L&T, JSW Steel, Divi’s Labs, Nestle India, Grasim Industries and UPL were other names that ended in the red.

Broader market indices ended higher, outperforming their headline peers.

Nifty Smallcap rose 1.16 per cent and Nifty Midcap added 0.64 per cent. Nifty 500, the broadest index on NSE, ended up 0.12 per cent. Welspun India, EID Parry, BEML, Crompton Greaves Consumer Electricals, Adani Total Gas and Prestige Estate Projects were top gainers from mid and smallcap indices, climbing in the range of 4-8 per cent.

Dhani Services, Gujarat Gas, Emami, Bajaj Electricals, Indiabulls Housing Finance and Sun Pharma Advanced Research were major losers from broader market space, falling in the range of 1-10 per cent. Sectoral matrix was mixed on the NSE.

Nifty Realty advanced 3.15 per cent, followed by Nifty PSU Bank, which added 1.04 per cent. Nifty Auto and Nifty Financial Services ended in the red.

Market breadth was in favour of gainers as 2,197 stocks ended in the green, while 1,167 names settled with cuts. As many as 76 securities hit 52-week highs, mostly from the smallcap space.

Meanwhile, 56 names hit 52-week lows, mostly from the microcap space. European markets were trading higher. London-based FTSE added 0.44 per cent while Paris and Frankfurt added 1.31 per cent and 0.95 per cent, respectively. In Asia, barring Singapore that dipped 0.22 per cent, all markets ended in the green.