The Indian equity indices extended losses for the second consecutive session on April 15 on wide-spread selling, as Israel and Iran tensions weighed on investors' risk appetite who will also be closely track March quarter results at home.
At close, the Sensex was down 845.12 points, or 1.14 percent, at 73,399.78, and the Nifty was down 246.90 points, or 1.10 percent, at 22,272.50.
The market started the session gap-down and extended losses as the day progress, with Nifty falling around 22,250 amid selling across the sectors except oil & gas.
Also Read - Sensex, Nifty slip 1% over Iran-Israel conflict worries; consolidation to continue
Biggest losers on the Nifty included Shriram Finance, Wipro, Bajaj Finance, ICICI Bank and Bajaj Finserv, while gainers were ONGC, Hindalco Industries, Maruti Suzuki, Nestle India and Bharti Airtel.
Among sectors, except oil & gas and metal, all sectoral indices ended in the red. BSE midcap and smallcap indices were down 1.5 percent each.
Among individual stocks, a volume spike of more than 300 percent was seen in SAIl, Exide Industries and Mahanagar Gas.
A long build-up was seen in ONGC, Indus Towers and Gujarat Gas, while a short build-up was seen in Coforge, Atul and Bandhan Bank.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 80,710.76 | -7.25 | -0.01% |
| Nifty 50 | 24,741.00 | 6.70 | +0.03% |
| Nifty Bank | 54,114.55 | 39.10 | +0.07% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Eicher Motors | 6,580.50 | 155.50 | +2.42% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| ITC | 407.35 | -8.55 | -2.06% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 26320.60 | 325.75 | +1.25% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 34635.80 | -507.30 | -1.44% |
More than 150 stocks touched their 52-week high including Exide Industries, SAIL, Honeywell Automation, Hindalco Industries, Aegis Logistics, Anand Rathi, Ashiana Housing, Aster DM Health, Bharat Electronics, HEG, Puravankara, Thermax, Vedanta, Waaree Renewable, among others. Click to view full list
Outlook for April 16
Aditya Gaggar Director of Progressive Shares
Global jitters dented the market sentiments across the globe and Indian markets also reacted in the same manner by commencing the week on a tepid note. An attempt at recovery was seen during the day but bears tightened their grip and dragged the Index lower to end the session at 22,272.50 declining by 246.90 points. All the sectors ended the day in red; with Media and PSU Banks being the worst performers.
Compared to Nifty50; Mid and Smallcaps corrected more and ended the session with a loss of 1.57% & 1.73% respectively. By forming a bearish candle, the Index breached its previous support and closed below the same.
We believe that if the correction continues, the Index is likely to reverse from its support level of 22,185 while the higher side is capped at 22,430.
Prashanth Tapse, Senior VP (Research), Mehta Equities
The worsening situation in the Middle-East with conflict between Iran and Israel flaring up had engulfed Dalal Street. Investors worldwide, including in India, have turned cautious and resorted to profit-taking. If the situation turns bad, we may see extended broad-based selling in local markets. Geo political tensions and uncertainty over interest rate cut could have a bearing on the markets.
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