Nifty Ends 153 Points Lower in a Volatile Session, Midcaps Slump; FMCG Shines

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Nifty Ends 153 Points Lower in a Volatile Session, Midcaps Slump; FMCG Shines
Credit: © Reuters.

By Malvika Gurung -- The Indian equity benchmark indices ended Friday’s volatile session lower, with Nifty50 dropping 0.79% and BSE Sensex sliding 0.72%, extending sell-offs in the domestic market for the fourth consecutive session.

This was due to looming fears of rising interest rates amid surging inflation, paired with geopolitical tensions, a selling spree of foreign portfolio investors, and a weaker Indian rupee.

With Friday’s session coming to an end, investors have lost Rs 10.17 lakh crore on Dalal Street in four days.

The broader markets underperformed benchmark indices, as Nifty Smallcap ended 2.28% lower and Nifty Midcap dropped 2.39%. 

Among the Nifty’s sectoral indices basket, 10 out of 11 sectors ended in red, with Nifty FMCG ending 0.36% higher. Nifty Media tanked the most by 3.47%, while sector Nifty PSU Bank declined 3.05% and Nifty Bank dropped 0.73%.

Among the blue-chip stocks, Bajaj Auto (NS: BAJA ) gained the most, closing 3.67% higher, while Maruti Suzuki (NS: MRTI ), Hindustan Unilever (NS: HLL ), Hero MotoCorp (NS: HROM ), HDFC Bank (NS: HDBK ), Nestle (NS: NEST ) and Hindalco Industries (NS: HALC ) also ended higher.

On Nifty50, Bajaj Finserv (NS: BJFS ) led the losses, tumbling over 5%, followed by Tech Mahindra (NS: TEML ), Shree Cements (NS: SHCM ) and Coal India (NS: COAL ), declining from 4.6%-3.7%.

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