NEW DELHI: A strong all-round selling, triggered by weakness in global stocks, made domestic equity benchmarks Sensex and Nifty tank on Friday.
Analysts called it mean reversion for the market, which had outperformed its global peers for the past one month. Indian equity indices, which usually enjoy a positive correlation with Dow Jones, have been moving in opposite direction since November 12.
Sustained profit booking in the wake of pessimistic global cues caused BSE Sensex plunge 737 points before settling 690 points, or 1.89 per cent, down at 35,742. NSEs Nifty50 lost 198 points, or 1.81 per cent, to settle at 10,754.
Midcap and smallcap indices cracked in sync with Sensex, as the BSE Midcap index fell 1.79 per cent and the Smallcap index 1 per cent.
On a weekly basis, Sensex slipped by 221 points or 0.61 per cent, while Nifty declined 51 points or 0.48 per cent.
Heres a look at the key highlights of Friday's session
Rs 2.26 crore investor wealth gone
Friday's selloff eroded over Rs 2.26 lakh crore investors' wealth as overall market capitalisation of the BSE-listed companies plummeted to Rs 1,43,30,309 crore from Rs 1,45,56,433 crore.
Red dots overwhelm Sensex
Sensex looked a sea of red as barring two components, NTPC (up 1.07 per cent) and Coal India (up 0.28 per cent), all other stocks slipped. The pack of losers was led by Wipro (down 4.23 per cent), Adani Ports (down 3.76 per cent), Maruti (down 3.49 per cent), Infosys (down 3.16 per cent) and TCS (down 3.02 per cent).
Top losers of the day
GCM Capital Advisors (down 18.08 per cent), Jhandewalas Foods (down 17.99 per cent), Shree Tulsi (down 9.98 per cent), Netripples Software (down 9.91 per cent) and Amin Tannery (down 9.23 per cent) were the top losers among BSE-listed stocks. Other worst-hit stocks included Godfrey Phillips (down 5.23 per cent), SRF (down 5.10 per cent), Shriram Transport Finance (down 5.05 per cent), Eclerx Services (down 4.80 per cent) and Tata Communications (down 4.76 per cent).
Talk of biz rejig lifts Amrutanjan 15%
Shares of Amrutanjan Health Care defied a weak trend in boarder market to jump 14.81 per cent to Rs 292 on BSE. Dealing room checks indicated that the company may be planning a re-jig exercise its business, where the snacks business may be converted into a separate entity, and some marquee investors may come in to back the main business. The stock settled above its 200-DMA on Friday.
IT pack worst sectoral performer
All sectoral indices fell on Friday, with the IT index slipping 2.62 per cent to finish as top loser among BSE sectoral indices. Infosys, TCS, Wipro, Tech Mahindra and HCL Tech were among the top losers. Among the 57 stocks in the BSE IT index, 48 declined and 9 advanced.
Stocks that defied trends
Shares of Arshiya (up 19.88 per cent), Nintec Systems (up 19.75 per cent), A F Enterprises (up 19.30 per cent), Everest Organics (up 16.50 per cent) and Agarwal Industrial Corporation (up 16.19 per cent) defied bearish market mood to surge up to 20 per cent. CG Power and Industrial Solutions (up 7.97 per cent), Navkar Corporation (up 6.35 per cent), Shipping Corporation of India (up 6.32 per cent), IL&FS Transportation Networks (up 4.72 per cent) and Shriram City Union Finance (up 4.51 per cent) also logged significant gains.
NDTV surges nearly 10%
Shares of NDTV surged 9.94 per cent to Rs 39.25 on BSE after the company struck a five-year deal with Taboola, the worlds largest content discovery platform.
Piramal Ent ends flat on fund raising plans
Shares of Piramal Enterprises settled almost flat at Rs 2,289 after it revealed plans to raise up to Rs 2,650 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.
168 stocks hit lower circuit
As many as 168 stocks, including Punj Lloyd, Cyber Media (India), Hotel Leelaventure, California Software and Ortel Communications, hit lower circuits on BSE, while 166 others, including IL&FS Transportation Networks, Jash Dealmark and JLA Infraville Shoppers hit upper circuits.
100 stocks at 52-week lows
New India Assurance, Khadim India, Hindustan Composites, Empire Industries, Suyog Telematics and Swelect Energy Systems were among the 100 stocks that touched their 52-week lows on BSE.
Infosys, ITC below 200 DMAs
Infosys, Hero Motocorp, TVS Motor, L&T Finance, Hotel Leela, ITC, GAIL, NIIT Tech, Voltas and Oberoi Realty were among the stocks that slipped below their 200-DMAs. On the other hand, NDTV, BPCL, Petronet LNG, City Union Bank, Punjab & Sind Bank and Amrutanjan Health Care witnessed positive breakouts and traded above 200-DMAs.
95 stocks ready to fall
Momentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 95 counters on BSE, signalling that they may slide further. Among them were Wipro, Reliance Industries, HDFC Bank, L&T, Bharat Financial, Balrampur Chini and Tata Communications. On the other hand, Astron Paper & Board, NDTV, PNC Infratech and Medicamen Biotec were among 69 stocks that showed bullish crossovers.
Nifty forms large bearish candle
Before closing 197 points, or 1.81 per cent, down at 10,754, Nifty hit an intraday low and high of 10,738 and 10,963, respectively. In the process, the index formed a large bearish candle on the daily chart as it eroded all the gains that it had made through the week.