hi INDiA Copyright 2022
Mumbai, May 13
Equity benchmarks capitulated in fag-end trade on Friday to post their sixth straight session of loss as investors fled for safety amid dismal macroeconomic data and persistent selling by foreign investors.
SBI top laggard
The Sensex rallied over 800 points in afternoon trade but buckled under intense selling pressure to finish 136.69 points lower at 52,793.62 points
Rupee at all-time low of 77.55/USD
The rupee pared its initial gains and settled 5 paise lower at its fresh lifetime low of 77.55 against the US dollar on FridayForex traders said the rupee consolidated in a narrow range, as the weakness in regional currencies and depressing economic data weighed on the domestic unit
Building on a firm start, the 30-share BSE Sensex rallied over 800 points in afternoon trade but buckled under intense selling pressure to finish 136.69 points lower at 52,793.62 — its lowest closing level since July 30, 2021. On similar lines, the broader NSE Nifty dipped 25.85 points to settle at 15,782.15.
SBI was the top laggard, tumbling 3.76%, after it reported a 41% surge in Q4 standalone net profit at Rs 9,114 crore but failed to meet analysts’ estimates.
ICICI Bank, NTPC, Bharti Airtel, Bajaj Finserv, Axis Bank, Maruti and Tata Steel were among the other losers.
In contrast, Sun Pharma, Mamp;M, Hindustan Unilever, ITC, Titan, Reliance and Nestle India were among the gainers, climbing up to 3.76%.
On the macroeconomic front, retail inflation soaring to 7.79% in April has raised the odds of another interest rate hike by the RBI early next month to tame prices.