- The Sensex ended 230 points lower while the Nifty50 closed 65 points lower on Thursday.
- Foreign institutional investors (FII) ploughed in ₹618 crore while domestic institutional investors (DII) invested ₹449 crore, according to provisional data from BSE.
- Paytm was in the spotlight as the shares witnessed a sell-off after the lock-in period for promoters and shareholders ended.
Most sectoral indices ended in the red with the auto, utilities and IT stocks losing the most sheen.
New-age company Paytm stole the spotlight as it witnessed a sell-off after the lock-in period for promoters and shareholders of the company ended in November.
“Nifty closed lower on November 17 after two-day gains due to mixed global cues. It remained in a 105-point band through the day, suggesting limited intra-day volatility once again. Triggers for market-wide movement are missing even as the new-age stocks kept coming under selling pressure on the expiry of the lock-in period and some bargain hunters came in to buy at lower levels,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Paytm shares closed 10.78% lower today as huge volumes of shares exchanged hands through several block deals. A block deal involving 29.5 million shares, amounting to ₹1,660 crore was executed, although the seller details are not known yet.
Shares of another new-age company Nykaa have also been sold heavily post the ending of the lock-in period, depressing the stock 12% in the last three sessions. However, the scrip closed in the green on Thursday with gains of 0.62%.
Most Asian markets ended in the red on Thursday with Hang Seng (-1.04%) and Nikkei 225 (-0.35%) leading the declines.
The Sensex and the Nifty50 have experienced volatility over the last five days, gaining nearly 0.3% in this period.
Some losses were pared in the global as well as domestic markets after US President Joe Biden’s comments on a blast in Poland raised hopes that the US Fed will go slow on hiking interest rates.
ICICI Bank, Adani Enterprises and L&T were amongst the stocks with highest gains on the bourses today. Overall, 722 stocks closed the day in the green while 1,261 stocks closed in the red.
Source: NSE
Overall, foreign institutional investors (FII) ploughed in ₹618 crore while domestic institutional investors (DII) invested ₹449 crore, according to provisional data from BSE.
“The benchmark indices witnessed lacklustre activity. Among sectors, auto and digital indices corrected over 1% whereas some buying interest was seen in selective PSU Banks stocks,” said Shrikant Chouhan, head of equity research (Retail) at Kotak Securities.
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