Sensex sheds 656 pts, Nifty ends below 18K amid weak global cues; PSBs soar
20/01/2022
Mumbai, jan 19: Benchmark indices ended lower for a second straight day on Wednesday as rising bond yields continued to shift investors away from riskier asset classes.
The 10-year US Treasury yield hit 1.9 per cent today, its highest point since December 2019. Brent crude futures, too, topped the $88 per barrel-mark.
Given this, the frontline BSE Sensex index plunged 656 points, or 1.08 per cent, to 60,099. The Nifty50, on the other hand, shut shop at 17,943, down 170 points or 0.9 per cent.
The broader markets, however, outperformed the headline indices with the BSE MidCap index declining 0.34 per cent but the BSE SmallCap rising 0.04 per cent.
Among individual stocks, SBI rose around 2 per cent to end as the top Sensex gainer today. This was followed by Maruti Suzuki, Tata Steel, Axis Bank, Tech M, and M&M. All these stocks were up in the range of 0.3-1.6 per cent. On the downside, the shares of Infosys and Asian Paints slipped nearly 3 per cent each, while Asian Paints, HUL, Bajaj Finance, Kotak Bank, TCS, and Nestle India fell up to 2.5 per cent.
Within the pack, the shares of Bajaj Finance had hit a record high of Rs 8,043.50, after they rallied 4 per cent in Wednesday's intra-day trade on the back of a strong 85 per cent year-on-year (YoY) jump in consolidated net profit at Rs 2,125 crore in the October-December quarter (Q3FY22), beating Street estimates.
Within the broader market pack, shares of Paytm ended at Rs 997 level, down 4.5 per cent. Earlier today, the shares of company had hit a new low of Rs 990 on the back of heavy volumes.
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