Sensex, Nifty50 halt 3-day winning streak as market retreats from 10-week peak

Sensex, Nifty50 halt 3-day winning streak as market retreats from 10-week peak

Domestic equity benchmarks registered sharp losses on Friday amid weakness in financial and FMCG shares, halting a winning run that lasted three trading sessions. Both main gauges retreated from 10-week closing highs registered the previous day. The Sensex fell 387.7 points, or 0.5 per cent, to end at 82,626.2 while the Nifty50 loser 96.6 points, or 0.4 per cent, for the day to settle at 25,327.1. The bulls apparently took a breather after the Fed’s widely expected quarter percentage point rate cut this week sent strong signals to major markets globally. 

Here are 10 things to know about the September 19 trading session on Dalal Street: 

Top Nifty50 gainers and losers

HCLTech, ICICI Bank, Trent, Titan, M&M, Bajaj Auto, HDFC Bank and Nestle India — closing between 1.0 per cent and 1.6 per cent lower — were the worst hit among the 27 losers in the Nifty50 basket.

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On the other hand, Adani Enterprises, SBI Life, IndusInd Bank, Adani Ports and Bharti Airtel — rising between 1.2 per cent and 5.3 per cent — were the top gainers in the 50-blue-chip universe.

Top Sensex movers

Among index heavyweights, HDFC Bank, ICICI Bank and Reliance were the biggest contributors to the losses in both headline indices.

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Nifty Bank

The Nifty Bank — whose 12 constituents include stocks like SBI and HDFC Bank — gave up 268.6 points, or half a percentage point, to 55,458.9 after broadly gyrating within the 55,350-55,700 band during intraday trade. Financial stocks enjoy the maximum weightage of almost 37 per cent in the Nifty50.

Midcap and smallcap shares 

Among broader indices, the Nifty Midcap 100 and the Nifty Smallcap 100 rose up to 0.2 per cent, reflecting buying interest in the minnows compared to blue chips.

Global markets 

European shares began the day on a sluggish note, with the pan-continental Stoxx 600 gauge trading 0.1 per cent lower at the last count, mirroring weakness in other major Asian markets after days of rate cut-driven optimism.

Dow futures were up 81 points, or 0.2 per cent, suggesting a positive start ahead on Wall Street.

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