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Slideshow | Market extends losing streak in second week; PSU banks, metals worst hit, rupee recovers

Slideshow | Market extends losing streak in second week; PSU banks, metals worst hit, rupee recovers

Among sectors, Nifty PSU Bank index plunged 4.6 percent, Metal index shed 4 percent and Realty index fell 2.7 percent.

Indian equity benchmark indices extended the losing streak in the second week ended February 18 amid high volatility in the face of escalating geopolitical tension, rising crude oil prices and relentless FII selling. Market opened the week with worst single-day fall since April 2021, but rebounded smartly in the next session, but remained rangebound in the following three sessions. The BSE Sensex fell 319.95 points (0.55 percent) to end at 57,832.97, while the Nifty50 shed 98.45 points (0.56 percent) to close at 17,276.3 levels during the week ended February 18. The BSE Small-cap index fell over 3 percent with 16 stocks falling over 15 percent including Axtel Industries, Syncom Formulations, Manappuram Finance, NRB Bearings, Mangalam Organics, Metropolis Healthcare, GRM Overseas, DB Realty, NLC India, Jindal Worldwide, Centum Electronics, Kuantum Papers, Jindal Poly Films, 63 Moons Technologies, Repco Home Finance and Bharat Road Network. On the other hand, 12 stocks added 10-29 percent which include Sree Rayalaseema Hi Strength, TCPL Packaging, Excel Industries, Solara Active Pharma Sciences, Everest Industries, Eveready Industries India, Mirza International, Sandur Manganese, Vishnu Chemicals, RHI Magnesita India, Technocraft Industries (India) and Shree Pushkar Chemicals and Fertilisers. BSE Mid-cap Index shed 2 percent with REC, Balkrishna Industries, Gland Pharma, Rajesh Exports, Godrej Industries, Muthoot Finance, Honeywell Automation, Sun TV Network, Union Bank of India and 3M India falling 6-9 percent. However, Voltas, CRISIL, Adani Power, Page Industries, Cummins India, Bajaj Holdings & Investment and Motilal Oswal Financial Services added 3-5 percent. The BSE Large-cap Index declined 0.7 percent dragged by Piramal Enterprises, NMDC, Ambuja Cements, Bank Of Baroda, Interglobe Aviation, Aurobindo Pharma, Adani Total Gas, JSW Steel and Power Grid Corporation of India. On the BSE Sensex, ICICI Bank lost the most in terms of market value, followed ITC, State Bank of India and UltraTech Cement in the last week. On the other hand, Tata Consultancy Services, Reliance Industries and Hindustan Unilever added the most in term of market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.) Among sectors, Nifty PSU Bank index plunged 4.6 percent, Metal index shed 4 percent and Realty index fell 2.7 percent. Foreign institutional investors (FIIs) sold equities worth of Rs 12,215.48 crore, and domestic […]

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