Markets end lower tracking global cues; Nifty settles below 17,600; Sensex dips over 380 pts; Metal stocks crack

12 Apr 2022 , 03:56 PM

Domestic equities ended lower for the second straight day following sluggishness across global markets. Moreover, news on the Russia-Ukraine war, rise in bond yields and further supply disruptions due to increasing COVID infections in China, continue to perturb market sentiments.

The 30-share BSE Sensex tanked 388 points or 0.66 per cent to close at 58,576, while the broader NSE Nifty declined 145 points or 0.82 per cent at 17,530.

Broader markets underperformed compared to the main indices with Nifty Midcap and Nifty SmallCap losing 1.9% and 1.5% respectively.

The overall market breadth stood negative as 1,174 shares advanced while 2,247 declined on BSE.

Among stocks on the Nifty 50, Hindalco was the top loser as the stock cracked 5.77 per cent. Coal India, Grasim Industries, Tata Motors and Tata Steel were also among the laggards. Axis Bank, Kotak Mahindra Bank, PowerGrid, Maruti, ICICI Bank, IndusInd Bank, M&M and HDFC settled in the green.

Most sectoral indices ended in red except Nifty Bank (+0.4%) and Nifty PVT Bank (+0.5%). Nifty Reality declined the most at 2.8%, followed by Nifty Metal and Nifty IT which fell 2.7% and 1.7% respectively.