Market Crash Highlights: Sensex ends down 840pts, Nifty at 22,270; Broader market, sector indices red, Bank, Health fall
- Market Crash Highlights : Companies reporting results on April 15 include GTPL Hathway, Hathway Bhawani Cabletel & Datacom, Metalyst Forgings, Ontic Finserve, Rajoo Engineers, Hit Kit Global Solutions, Shekhawati Poly-Yarn, Atam Valves, and Sybly Industries.
Market Crash Highlights : Shares in Asia slipped to the lowest in six weeks, tracking Friday’s drop in US equities, as markets grappled with simmering tensions in the Middle East, disappointing bank earnings and the prospect of the Federal Reserve keeping interest rates higher for longer.
Equity benchmarks in Japan, South Korea and Australia all declined while Hong Kong stock futures also fell after the S&P 500 suffered its worst session since January on Friday amid a flight to safety.
But global markets showed signs of stability even after the unprecedented attack on Israel at the weekend. Iran said “the matter can be deemed concluded,” and President Joe Biden reportedly told Israeli Prime Minister Benjamin Netanyahu that the US won’t support an Israeli counterattack against Iran.
Most Group-of-10 currencies strengthened against the greenback Monday while Treasures steadied in early Asian trading after yields slipped in the previous session. Gold rose amid driving demand for haven assets, while aluminum and nickel surged following new US and UK sanctions that banned deliveries of any Russian supplies after midnight on Friday.
In Asia, Chinese equities are set for a tough week after a miss in the nation’s trade data Friday. Even if the global risk mood improves and Middle East tensions subside, Chinese stocks may see headwinds of their own to overcome. Authorities may hold a key interest rate and make liquidity abundant this week when a policy loan matures.
With investors already rattled by sticky inflation and the prospect of higher-for-longer interest rates, the escalation of the Middle East crisis may inject fresh volatility into markets. As the conflict widens, many say oil could surpass $100 a barrel and expect a flight to Treasuries, gold and the dollar, along with further stock-market losses.
Bitcoin rallied after it sank almost 9% in the wake of the attacks. Stock markets in Saudi Arabia and Qatar posted modest losses under thin trading volumes on Sunday. Israel’s equity benchmark fluctuated between gains and losses at least nine times before closing with a small gain.
Oil mostly shrugged off the attacks, with gains held in check by speculation that the conflict would remain contained. Brent crude is already up almost 20% this year and last traded around $90 a barrel.
As Wall Street’s earnings season kicked off, big banks’ results offered the latest window into how the US economy is faring amid an interest-rate trajectory muddied by persistent inflation.
JPMorgan Chase & Co. and Wells Fargo & Co. both reported net interest income — the earnings they generate from lending — that missed estimates amid increasing funding costs. Citigroup Inc.’s profit topped analysts’ estimates as corporations tapped markets for financing and consumers leaned on credit cards — signs that a prolonged period of elevated interest rates will benefit big banks.
Traders will soon shift to looming economic data as they refine bets on central bank easing cycles, as well as the International Monetary Fund and World Bank spring meetings in Washington. This week, Chinese growth data and Japan, Eurozone and UK inflation readings are due.
Sensex Crash Today : Closing Bell
Sensex Crash Today : Indian benchmark indices closed down more than 1% for the second day running, dragged down by negative sentiment emanating from the brewing tensions in the Middle East. Both Sensex and Nifty traded in a tight range in anticipation of where the markets were headed as the situation in the Middle East evolves.
Sensex, which had opened lower at 73,315.16, traded between a high of 73,905.80 and a low of 73,315.16 through the day. At close, the Sensex was down 845.12 points, or 1.14%, at 73,399.78.
Meanwhile, the Nifty 50, which had also opened lower at 22,339.05, traded between a high of 22,427.45 and a low of 22,263.25, also closed lower. The Nifty 50 was at 22,272.50, down 246.90 points, or 1.1% down.
Only three of the 30 stocks on the Sensex ended the day in the green. Nestle India closed up 1.22%, Maruti Suzuki India closed up 1.14%, and Bharti Airtel closed up 0.16%, while Wipro, ICICI Bank, Bajaj Finserv, Bajaj Finance, and Tata Motors were the top losers of the day.
On the Nifty 50, only six of the 50 stocks on the Nifty 50 ended the day in the green, led by ONGC, Hindalco, Maruti Suzuki India, Neslte India, and Britannia, while Shriram Finance, Wipro, ICICI Bank, Bajaj Finance, and Bajaj Finserv, were the top drags for the day.
The broader market also ended the day in the red, with the BSE MidCap index closing down 1.5%, and the BSE SmallCap index closing down 1.54%.
Meanwhile, across sectors, all the sectoral indices barring Oil & Gas, which closed up 0.41%, ended the day in the red.
Among the top losers were Bank and Financial Services, which closed down 1.63% and 1.75%, respectively.
Heavyweight indices, like IT was down 1.58%, while Healthcare and Consumer Durables were down 1.37% and 1.32%, respectively.
Auto, Pharma, Metal and FMCG, also closed down more than 1%, each.
Sensex Today Crash : Sector Indices Heat Map
Sensex Today Crash : All the sectoral indices barring oil & gas were in the red, which was up 0.26%.
Among the top losers were Bank and Financial Services, down 1.65% and 1.75%, respectively, Heavyweight indices like IT was down 1.59%, while Healthcare and Consumer Durables were down 1.36% and 1.30%, respectively.
Auto, Pharma, Metal and FMCG, were down more than 1% each.
Sensex Today Crash : Broader market indices heat map
Sensex Today Crash : The broader market was down, with the BSE MidCap index down 1.58%, and the BSE SmallCap index down 1.54%.
Sensex Today Crash : Gainers and Losers on Nifty
Sensex Today Crash : Only four of the 50 stocks on the Nifty 50 were in the green, led by ONGC, Hindalco, Maruti Suzuki India, and Neslte India, while Shriram Finance, Bajaj Finance, Wipro, ICICI Bank, and Bajaj Finance, were the top drags.