Monday mayhem on Dalal Street; Nifty ends below 17,200; Infosys, HDFC Bank underperform

18 Apr 2022 , 05:10 PM

Domestic markets started the week on a muted note and ended the session with a sharp loss of nearly two per cent. After a gap-down opening amid weak global cues, the benchmark continues to trade with negative bias throughout the day. Also, lower than expected results from heavyweights like Infosys and HDFC Bank impacted sentiments.

The benchmark S&P BSE Sensex tanked ended at 57,167, down 1,172 points or 2.01 per cent. On the NSE, the Nifty50 tumbled about 400 points intra-day to slip below the 17,100-mark. It ended at 17,174, down 302 points or 1.7 per cent.

The broader markets, Midcap and Smallcap too ended lower by 1.1% and 1.3%, respectively. A mixed trend was seen amongst the sectoral indices wherein IT and banking were the top laggards while Auto, FMCG and Energy were the gainers.

India VIX surged zoomed 8.71% at 19.34.

Infosys, HDFC, HDFC Bank, Tech Mahindra, Wipro and TCS were the major laggards in the Sensex pack. On the flip side, NTPC, Tata Steel, Maruti, Titan, Nestle, Titan and M&M were among the gainers.

On the economy front, the wholesale price-based inflation spiked to a four-month high of 14.55 per cent in March.

In Asia, markets in Seoul, Shanghai and Tokyo settled lower. Hong Kong was closed for a holiday.

Further, crude oil prices climbed to their highest in nearly three weeks as fears over tight global supply grew, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia.