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Stock Market Highlights | Sensex, Nifty 50 remain weak, end at two-month low; Midcap index falls over 900 points
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Stock Market Highlights | Sensex, and Nifty 50 remained weak today, ending at two-month lows as both frontline and broader indices saw declines of 1-2%. The Sensex dropped by 1,062 points to 72,404, while the Nifty fell 345 points to 21,958. The Nifty Bank index slipped 533 points to 47,488, and the Midcap Index plummeted by 927 points to 49,109.
Stock Market Highlights | Sensex, and Nifty 50 remained weak today, ending at two-month lows as both frontline and broader indices saw declines of 1-2%. The Sensex dropped by 1,062 points to 72,404, while the Nifty fell 345 points to 21,958. The Nifty Bank index slipped 533 points to 47,488, and the Midcap Index plummeted by 927 points to 49,109.
While Asian Paints and L&T saw declines of 5-6% despite strong earnings, auto stocks, especially two-wheelers like Hero Moto and TVS, gained amidst the weak session, buoyed by positive earnings and outlooks. Stocks like Tata Power and UBL faced negative reactions to their Q4 results, each declining by 5%. Regulatory advisories added to the pressure, impacting sectors like finance, with Muthoot and Manappuram slipping by 4-8% due to an RBI advisory.
SBI closed higher despite the market downturn, rising 2% from its lows on the back of better-than-expected results. However, Piramal was the top midcap loser, dropping 9% due to weak Q4 earnings. Navin Fluorine reversed its gains from Wednesday, closing 5% lower.
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