Highlights

  • Covid concerns in country and internationally on the rise
  • Banks start to raise loan rates, inflation pressures remain
  • Big earnings hit even in tech batters sentiment

Latest news

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Market Carnage: Rs 4 lakh crore lost in a single day

HDFC Bank, Infosys contributed nearly 60% of the fall in Nifty

Complete bloodbath on Dalal Street with the Sensex sinking more than a 1000 points and the Nifty crumbling nearly 300 points in trade as bulls were jolted back to reality after a 4 day weekend. Here are the market highlights:

  • Markets at close: Nifty ends below 17,200, Sensex tanks 1,170 points. IT index down 4% and realty and bank indices down 1% each
  • Infosys' earnings disconnect led to a big hit, stock fell the most in 2 years with Rs 50,000 cr wiped from it's marketcap. Brokerages cut target price as tech major's guidance missed estimates by a margin.
  • HDFC Bank aided the bears as the banking major left investors poorer by Rs 37,500 cr as margins clocked in at an all time low despite strong loan growth in Q4.
  • Covid concerns on the rise, not just globally but even in India. Masks become compulsory in UP again, Delhi sees cases doubling in a week to 2047 vs 943 last week.
  • All eyes on US markets and earnings this week; Netflix Tesla et al to report numbers
  • It was not just equities falling, Bitcoin fell to the lowest in a month; dogecoin, Shiba Inu tank over 6%

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