MARKET UPDATE: Sensex down 628 points at 57,204, while Nifty sliding 180 points to 17,096
Published On: Monday, February 21, 2022 | By: Team KnowMyStock
In line with other global market indices, the Indian benchmark indices started trade lower today(21st Feb.2022) extending losses for the fourth day. At open, the BSE Sensex fell 260 points at 57,572, while the NSE Nifty was at 17,207 lower by 69 points. The indices continued to extend losses for the day and inched lower around 9:45 am, with the Sensex benchmark falling 628 points at 57,204, while the Nifty50 index sliding 180 points to 17,096. Among the Sensex-30 shares, Bajaj Finserv, Nestle, HDFC, L&T, Ultratech Cement, Titan, and Asian Paints were the top losers. On the Nifty, HDFC Life, Tata Consumer, UPL, Britannia, SBI, Bajaj Finserv, and Shree Cement were the top laggards, down up to 1.9 percent. On the flip side, Dr. Reddy's, NTPC, PowerGrid, IndusInd Bank, and TCS were the only gainer on the bourses, up to 0.8 percent higher.
Dr Reddy's was firmly up as the company said that it has received the Establishment Inspection Report (EIR) from the USFDA indicating closure of the inspection at its manufacturing facilities (FTO 7 & FTO 9) at Duvvada, Visakhapatnam.
In the broader markets, the BSE MidCap and SmallCap indices were in the negative territory, down 0.5 per cent and 0.9 per cent, respectively. India VIX was also up by over 5 per cent.
Sectorally, all indices were deep in red led by losses in Nifty Realty index, down over 2 per cent. Other notable losers included Nifty Bank, Auto, Metals, FMCG, Financials, Consumer Durables, all down a per cent each.
Moreover, Kalpataru Power was up nearly 2 per cent on the BSE as the company announced the merger of JMC Projects (India) to create one of India’s largest EPC companies in the areas of power transmission, buildings & factories, railways, oil & gas, water and heavy civil. As per the merger ratio, sharesholders of JMC shall be issued equity shares of Kalpataru in the ratio of 4:1.
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