Sensex slips 115 points to snap 3-day winning run, but ends FY22 18% higher

Snapping their three-day winning streak, the domestic benchmark indices settled in the red on the last trading day of March – a tumultuous month marked by geopolitical and economic uncertainty after Russia invaded Ukraine.

In line with global peers, the 30-share pack Sensex fell 115.48 points or 0.20% to a close at 58,568.51. Its broader peer NSE Nifty declined 33.50 points or 0.19% to 17,464.75.

Despite the global equity market reeling under the heat of the war for over a month, the Nifty has advanced over 5% this month and has emerged as the best performing index in FY22, beating global peers by zooming 19%.

The Sensex too has advanced 5.5% this month and has risen over 18% in the financial year.

Investors’ wealth, reflected in the total m-cap of BSE-listed firms, has jumped by over Rs 12 lakh crore in March. Their investors have gained over Rs 5 lakh crore since the beginning of this calendar year.

“Even as markets ended the last day of the financial year in a rather quiet mood, it has delivered a 19% return this year on the Nifty with two sectoral indices – Metals & Media returning over 50% this year,” said S Ranganathan, Head of Research at LKP securities.

On the broader market as well, both the Midcap-100 & the Smallcap-100 delivered over 25% return this year. Such returns in a year when FPIs have pulled out big money highlights the confidence of the Indian Investor amidst a slew of headwinds, he added.

Though foreign investors fled equities as worries about soaring inflation were compounded by higher commodity prices following Russia’s invasion of Ukraine, but domestic investors have shown resilience and managed to outperform global peers.

Gainers and Losers

M&M was the top Sensex gainer, rising over 1.95%, followed by Axis Bank, HUL, Bharti Airtel, IndusInd Bank and ITC and Titan were other gainers from the pack. Britannia and Tata Consumers were other stocks that settled in the green from the Nifty pack.

On the contrary, RIL was the biggest drag in today’s session falling 1.46%, followed by DRL, Wipro, Maruti and Ultratech Cement.

Hindalco fell for a second straight session and emerged as the top Nifty loser falling 4.75% followed by Divis Lab and Apollo Hospitals. FMCG stocks were amongst top Nifty gainers with HUL rising 1.6% on reports of price hikes.

Market at a glance:

  • RIL snaps a 7-day winning streak but has gained 6.49% this week
  • Hindalco tops Nifty loser after announcement of 5-yr capex plan
  • DFM Foods up 13% on reports of likely delisting of co from exchanges
  • HUL ends 1.55% higher after the company hiked the prices of cleaning & personal care products
  • GAIL India ends 1.63% higher after board approved buyback of up to 5.7 cr shares
  • Axis Bank ends 1.47% higher on acquiring Citibank’s India retail business
  • Voda Idea falls 2% after board approves raising Rs 4,500 cr from 3 promoters

Index Statistics

Market breadth favours declines, advance-decline ratio at 1:1, according to BSE.

About 1,500 shares advanced, 1,896 shares declined and 111 shares remained unchanged. 130 stocks tested their 52-week highs during the session, whereas 51 others tested their 52-week lows. 21 stocks hit their upper circuit limit, while 3 stocks were locked in the lower circuit.

Global Markets

Elsewhere in Asia, equity exchanges in Shanghai, Tokyo and Hong Kong ended lower, while Seoul settled with gains.

US futures are little changed, while European markets were mostly trading lower and are poised for their first quarterly decline since the early pandemic days of 2020.

Meanwhile, international oil benchmark Brent crude tumbled 5.09 per cent to $107.68 per barrel on reports that the US was considering releasing a record 180 million barrels of oil from strategic reserves.

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