Sensex declines 115.48 points due to profit taking, closes FY22 with over 18% gains
The Hindu
NSE Nifty declined by 33.50 points or 0.19% to settle at 17,464.75 on Thursday
Benchmark BSE Sensex gave up its early gains to settle lower by 115 points on the last day of 2021-22 fiscal on Thursday, dragged down by profit-taking in Reliance Industries, Infosys and HDFC Bank after a three-day rally.
The 30-share barometer declined by 115.48 points or 0.20% to settle at 58,568.51 in choppy trade due to the expiry of monthly derivatives contracts. During the day, it touched a high of 58,890.92 and a low of 58,485.79.
The broader NSE Nifty declined by 33.50 points or 0.19% to settle at 17,464.75.
For the fiscal 2021-22, the BSE Sensex jumped 9,059.36 points or 18.29%, while the Nifty rallied 2,774.05 points or 18.88%.
"Even as markets ended the last day of the financial year in a rather quiet mood, it has delivered a 19% return this year on the Nifty with two sectoral indices - metals and media returning over 50% this year.
"On the broader market as well, both the midcap-100 and smallcap-100 delivered over 25% return this year. Such returns in a year when FPI's have pulled out big money highlights the confidence of the Indian investor amidst a slew of headwinds," according to S. Ranganathan, Head of Research at LKP Securities.
Among the 30-share pack, M&M, Hindustan Unilever Limited, Axis Bank, IndusInd Bank, Bharti Airtel, ITC and Titan were among the lead gainers.
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