Indian equity markets see a day of volatility today

20 Mar 2023 , 04:40 PM

Indian equity markets saw a day of volatility today. In the last 1.5 hours of trade, markets recovered some of the losses seen earlier in the day. UBS’ acquisition of Credit Suisse has come with the term that $17 billion worth of Tier 1 bonds of Credit Suisse will be completely wiped off from its books. No payment will be made to the holders of these bonds. This has increased the risk for bond holders of all banks. Adani Enterprises’ stock once again came under pressure today after the group halted work on a petrochemical project in Gujarat.

Nifty 50 closed, down by 111.65 points. Sensex closed, down by 360.95 points. Top Gainers were Hindustan Unilever, BPCL, ITC. Top Losers were Bajaj Finserv, Adani Enterprises, Bajaj Finance. 

All the broader indices ended the day in red. Selling pressure was seen across market capitalizations. Significant selling pressure was seen in many IT and Metal stocks. Yes Bank, Future Consumer, and Idea were the most traded stocks today at NSE, in terms of volume. HDFC Bank, Reliance and ICICI Bank were the most traded stocks in terms of value. 31 stocks touched new 52-week high today at NSE. 277 stocks touched new 52-week low. Market breadth was negative.