Bajaj Finance outlook reverses market trend, drags Sensex 609 points down after 5-day win run
The 30-share BSE benchmark Sensex declined 609 points or 0.82% to settle at 73,730. The broader NSE Nifty dropped 150 points or 0.67% to end at 22,420. The market breadth was skewed in the favour of the bulls. About 1,996 stocks gained, 1,784 declined, and 133 remained unchanged on the BSE.
After a five-session winning streak, Indian equity indices took a negative turn and closed sharply lower on Friday, with financials bearing the brunt of 's weak outlook.The 30-share BSE benchmark declined 609 points or 0.82% to settle at 73,730. The broader NSE dropped 150 points or 0.67% to end at 22,420.
Both the indices opened about 0.25% higher before swinging between gains and losses.
Bajaj Finance, L&T, , , and exerted downward pressure on the Sensex. Conversely, , , , and contributed positively to the index. Notably, Bajaj Finance alone dragged the indices down by 137 points.
NBFC Bajaj Finance dropped 7.7% after its quarterly results, dragging the highest-weighted financial services index 0.9% lower.
The IT index rose about 0.3%. Tech Mahindra surged 7.3% and was the top Sensex gainer after the company announced a three-year business plan.
Among individual stocks, L&T Technology Services fell 8% on muted Q4 performance.
Zensar Technologies jumped 8% after the company reported a robust set of numbers for the March quarter.
The market breadth was skewed in the favour of the bulls. About 1,996 stocks gained, 1,784 declined, and 133 remained unchanged on the BSE.
Both the indices opened about 0.25% higher before swinging between gains and losses.
Bajaj Finance, L&T, , , and exerted downward pressure on the Sensex. Conversely, , , , and contributed positively to the index. Notably, Bajaj Finance alone dragged the indices down by 137 points.
NBFC Bajaj Finance dropped 7.7% after its quarterly results, dragging the highest-weighted financial services index 0.9% lower.
The IT index rose about 0.3%. Tech Mahindra surged 7.3% and was the top Sensex gainer after the company announced a three-year business plan.
Among individual stocks, L&T Technology Services fell 8% on muted Q4 performance.
Zensar Technologies jumped 8% after the company reported a robust set of numbers for the March quarter.
The market breadth was skewed in the favour of the bulls. About 1,996 stocks gained, 1,784 declined, and 133 remained unchanged on the BSE.
Source: Stocks-Markets-Economic Times
