Sensex fluctuates, red marks close, energy stocks rise

The Indian stock market closed in the red mark on the last day of the week with a fall on 23 April. The benchmark indices BSE Sensex and NSE Nifty lost nearly 0.5% amidst considerable volatility. In addition to the energy sector, most of the stocks in the entire sector were seen to fall in the midst of the ever-increasing crisis in Corona. Let’s understand what was important in the market-

The Sensex has come down to 48,000 again due to weakness. The Nifty 50 index was also close to 14,350 at the close of the market.

23 April Business Highlights

The BSE Sensex dropped 202 points while the NSE Nifty 50 index weakened 65 points.

At the time of closing the market, 22 out of 30 stocks of the Sensex pack remained in the red mark. Only 18 stocks gained in 50 of the Nifty packs.

JSW Steel’s share in the Nifty pack set a new peak for 52 weeks.

The Nifty Smallcap 100 and the Nifty Midcap 100 index closed in the green mark with a bounce opposite the Nifty. The midcap index gained 0.26% while the smallcap index gained 0.42%.

Due to considerable volatility, the difference between the day’s high and lowest levels of the Sensex was around 600 points.

The Volatility Index (VIX) has reached 22.69 after a fall of 1.48%.

Market movements

Nifty

Open – 14,326.35
Close – 14,341.35
Variations – (-0.45%)
High- 14,461.15
Lo- 14,273.30

Sensex

Open – 47,863.81
Close – 47,878.45
Variations – (-0.42%)
High- 48,265.39
Lo- 47,669.55

The reason for the breakdown of the market

Investors’ concerns about Corona matters remain. This can have a major impact on economic activity. Weak signs of overseas markets also helped Byers in the market. Investors are also being cautious before the fourth quarter results. Lack of enthusiasm in the market from foreign institutional investors and domestic institutional investors is also the reason for disappointment in the market.

Which sector did how well?

Most sector-based indices of the Nifty closed in the red mark on 23 April. Nifty Bank, Financial Services Index, Auto, Pharma and Metal sectors declined by 0.5%. Similarly, IT, FMCG and Realty index lost close to 1%. The Nifty Energy Index gained 0.96%.

Nifty-50 shares seen the fastest in these stocks

NTPC (+ 3.94%)
Power Grid (+ 3.66%)
HDFC Life (+ 1.61%)
IndusInd Bank (+ 1.47%)
BPCL (+ 1.16%)

These shares of Nifty-50 are broken.

Britannia (-2.67%)
Mahindra & Mahindra (-2.53%)
Dr. Reddy Labs (-2.40%)
Wipro (-2.31%)
ICICI Bank (-2.02%)

Stocks that remain most active

According to Value, Tata Steel, ICICI Bank and Tata Motors were the three most active stocks in the Nifty. At the same time, according to the volume, the stock of Tata Motors, SBI and ICICI Bank dominated.

What are the signs for next

The constantly growing Corona cases can be worrying for the market. Investors will also be watching the fourth quarter results for the next few days. Investors should trade with caution.