Feb 16, 2024
Sensex tanks 470 pts, Nifty falls below 17700 in early trade on Wed, Feb 22; Sapphire Foods, SBIN shares plunge
Indian benchmark equity indices opened broadly lower on Wednesday amid negative global market sentiment. The BSE Sensex fell 476 pts or 0.78% to 60,196.57 and NSE Nifty 50 plunged 146 pts or 0.82% to 17,680.05. The top gainers on Nifty were Tata Consumer (up 0.82%), Bajaj Auto(up 0.81%), Coal India (up 0.61%), Larsen & Toubro (up 0.45%) and Britannia (up 0.45%) while Adani Enterprises (down 4.19%), Eicher Motors (down 1.35%), BPCL (down 1.27%), IndusInd Bank (down 1.14%) and Grasim (down 1.14%).
State Bank of India shares fell 1.10% to Rs 517.50 in the early morning trade. The bank has successfully raised Rs 4,544 crore Non-Convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid Up Basel III compliant AT 1 Bonds at a coupon of 8.20% p.a.
Sectoral Indices
The sectoral indices were trading broadly in red. Bank Nifty fell 0.53%, Nifty Auto was down 0.22%, Nifty PSU Bank slipped 0.68% and Nifty IT dipped 0.79% while Nifty Pharma was up 0.28%.
Asian and US stock markets
All major Asian markets were trading in red with China’s Shanghai Composite index falling 0.40%, Japan’s Nikkei 225 sinking 1.49%, Hong Kong’s Hang Seng slipping 0.49% and South Korea’s KOSPI dipping 1.47%.
The US markets ended Tuesday’s session broadly lower with Dow Jones Industrial Average tanking 697.01 pts or 2.06% to 33,129.59, tech-heavy Nasdaq sank 294.97 pts or 2.50% to 11,492.30 and S&P 500 plunged 81.75 pts or 2% to 3,997.34.
FII and DII data
Foreign institutional investors (FII) bought shares worth a net Rs 525.8 crore, while domestic institutional investors (DII) sold equities worth a net Rs 235.23 crore on 21 February, according to the provisional data available on the NSE.
NSE F&O Ban
The National Stock Exchange has put Vodafone Idea on its F&O ban list for 22 February. According to the NSE, stocks are prohibited in the F&O sector once they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
More Details