Share Market LIVE: Sensex tanks over 500 pts, Nifty below 17,000; Bajaj twins top losers

Good morning!

Benchmark equity indices Sensex and Nifty ended lower on Friday due to fag-end selling in Axis Bank, Reliance Industries and Infosys.

The 30-share BSE benchmark plummeted 460.19 points or 0.80 per cent to end at 57,060.87 despite a firm opening. Nifty tanked 142.50 points or 0.83 per cent to 17,102.55.

The domestic equity market settled the volatile week in the red as market participants preferred to stay on the sidelines amid aggressive US Fed tightening and China Covid fear.

What’s next? Here are the latest updates!

9:16 am: Market opening

Equity benchmark indices opened sharply lower amid weak global cues. Sensex tanked over 577 points to 56,483.78 and Nifty fell over 178 points to 16,924.45.

Kotak Mahindra Bank and HDFC Bank were the top losers, followed by Bajaj twins, Infosys and Asian Paints.

8:45 am:  FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 3,648.30 crore on April 29, and domestic institutional investors (DIIs) purchased shares worth Rs 3,490.30 crore, as per provisional data available on NSE.

8:30 am: Global updates

Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.

The, S&P 500 declined 3.63% to end the session at 4,131.93 points. The Nasdaq declined 4.17% to 12,334.64 points, while Dow Jones Industrial Average declined 2.77% to 32,977.21 points.

Shares in Asia-Pacific were lower in Monday morning trade, with data released over the weekend showing Chinese factory activity contracted in April. In Japan, the Nikkei 225 fell 0.54% as shares of robot maker Fanuc dropped about 3%. The Topix index also shed 0.38%. South Korea’s Kospi traded 0.5% lower.

Australia stocks declined, with the S&P/ASX 200 falling 1.41%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.55% lower.

8:15 am: SGX Nifty

The Indian equity market is likely to open on a negative note today as SGX Nifty was trading 229 points lower at 16,903.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:10 am: Market on Friday

The 30-share BSE benchmark plummeted 460.19 points or 0.80 per cent to end at 57,060.87 despite a firm opening. During the day, it hit a high of 57,975.48 and a low of 56,902.30. Nifty tanked 142.50 points or 0.83 per cent to 17,102.55.

Axis Bank, Power Grid, Wipro, State Bank of India, Maruti, Titan and NTPC were among the major laggards from the Sensex pack.

In contrast, Kotak Mahindra Bank, HDFC Bank, Sun Pharma, Tata Steel and Dr Reddy’s were among the gainers.