Stock Market Analysis
As of 04 March 2022
On Friday, benchmark indexes lost their third consecutive session as the protracted battle in Europe continues to disrupt supply chains, frightening investors worldwide.
The US and its allies’ economic sanctions have essentially shut Russia’s economy off from significant elements of the global banking system. The prices of a wide range of goods have risen due to this.
The 30-share Sensex closed at 54,333.81, down 768.87 points, or 1.40 percent. The NSE Nifty’s larger counterpart fell 252.70 points, or 1.53%, to 16,245.35.
“Reports of a Russian strike on Europe’s largest nuclear power plant in Ukraine have sparked a strong sell-off on global stock exchanges. In addition, rising oil prices, along with concerns about supply chain disruptions, have raised fears that inflation may breach the RBI’s tolerance limit, if only briefly,
Vinod Nair, Geojit Financial Services’ Head of Research, stated.
Equity investors have seen their wealth plummet by Rs 4.34 lakh crore. As a result, the market capitalization of BSE-listed businesses declined to Rs 246.71 lakh crore, reflecting their wealth.
Market at a glance:
Wockhardt rose more than 2% after the company set a price for a Rs 748-crore rights issuance.
Even after the board approved a Rs 14,500 crore fundraising, Voda Idea shares plunged 7%.
YesBank loses its initial gains and concludes the day down 1% despite the investing hype.
As crude oil costs rose even higher, car brands continued to suffer.
Dr. Reddy’s Labs was the largest gainer among bluechip stocks, climbing 2.88 percent. Other notable gainers were ITC, Tech Mahindra, Bharat Petroleum, UltraTech Cement, Sun Pharma, and Wipro.
Titan was the Nifty pack’s biggest loser, plunging 5.21 percent. Maruti Suzuki, Asian Paints, Hero MotoCorp, Tata Motors, M&M, Coal India, JSW Steel, and HUL are other companies that ended in the red.
Broader market indexes ended the day down, lagging their more well-known counterparts. The Nifty Smallcap index dropped 1.78 percent, while the Nifty Midcap index dropped 2.08 percent.
The Nifty 500, the broadest index on the NSE, finished 1.72 percent down. The biggest gainers from smallcap indexes were CEAT, Strides Pharma, Intellect Design, Adani Total Gas, Mphasis, and REC.
On the other hand, Hindustan Zinc, IRCTC, SRF, Nalco, Carborundum Universal, and Tanla Platforms were notable losses from a more significant market perspective.
All sectoral indexes were trading down, except Nifty IT, which increased 0.14 percent. With a loss of 3.55 percent, Nifty Auto was the worst performer. Other losses included Nifty Metal, Nifty Realty, and Nifty Media.
The market breadth favored losers, with 1,228 equities ending in the green and 2,126 names ending in the red. Eighty-eight equities, mainly from the smallcap market, achieved 52-week highs. Meanwhile, 86 stocks, mainly from the microcap class, reached 52-week lows.
About 15 equities exceeded upper circuit limitations, while one stock exceeded lower circuit limits.
As a result, the European stock exchanges were trading lower. The FTSE in London sank 2.70 percent, while the DAX in Paris and Frankfurt fell 3.02 percent and 2.92 percent, respectively. Except for Indonesia, all Asian markets ended in the red.
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