The domestic bourses ended lower for the third straight session on Friday, led by sharp losses in consumer durables and capital goods stocks such as Titan Company, Bajaj Electricals, Tata Steel, and Voltas. The market sentiment was dented by mixed global cues peers as the continued rise in crude prices and uncertainties about the global economic outlook amid the Russia-Ukraine war rattled markets across the globe.

The 30-share Sensex ended at 57,362, down 233.5 points or 0.4%, and the Nifty50 closed at 17,153, down 70 points or 0.4%.

"After the recent 10% rally, the market has turned sideways with a negative bias due to increase in commodity prices, tightening monetary policy and inflationary pressure. The domestic market is showing strong resilience but to sustain the trend a lot will depend on the outcome of the war & commodity prices. Ease in Covid-19 restrictions in India is a boost for sectors like hospitality, multiplex, transportation etc, leading to the outperformance," says Vinod Nair, head of research at Geojit Financial Services.

In line with benchmark indices, the broader market also ended lower, with the BSE midcap and smallcap indices falling 0.36% and 0.33%, respectively.

The overall market breadth on the BSE was weak, with 2,181 shares declining out of a total of 3,793 traded stocks. As many as 1,482 shares rose and 130 were unchanged.

Capital goods and consumer durable stocks drag

Among sectors, realty and power indices were among the best performers, while capital goods (CGS) and consumer durables (CDS) saw maximum selling activities.

The BSE CDS index ended 2.28% lower, led by Titan Company, Rajesh Exports, Vaibhav Global, Voltas, and Bajaj Electricals.

The BSE CGS index was also among the biggest losers with a 0.95% loss. The CGS space was dragged by Praj Industries, Elgi Equipments, ABB India, Timken India, and Sona BLW Precision Forgings.

Top gainers and losers

From the 30-share pack on the BSE Sensex, Titan Company was the worst performer with a 3.35% loss, followed by Tech Mahindra, which ended 2.12% lower. Among others, Maruti Suzuki India, Tata Steel, and Nestle India fell up to 2%.

On the gaining side, Asian Paints topped the chart by rising 0.76%. Reliance Industries, the country’s most valued firm, rose 0.73%, followed by Bharti Airtel, State Bank of India, and Dr. Reddy's Laboratories, which ended tads higher.

Russian stock market retreats

The Russian stock market plunged more than 3% on Friday after rising as much as 10% in the previous session as investors weighed Western sanctions against Russian financial institutions, banks, and major businesses as well as ban on oil exports. At the time of reporting, the Moscow Stock Exchange was quoting at 2,503 points, down 2.9%. The Moscow Stock Exchange (MOEX) resumed trade on Thursday after being shut down for a month following the invasion of Ukraine.

Asian stocks end mixed

Shares in the Asia-Pacific region were mixed in volatile trade on Friday, with regional heavyweights Hong Kong and China closing lower, while Japan and Australia settled above the baseline. Investors remain on edge as the U.S. and its western allies plan to impose fresh sanctions on Russia over Moscow’s invasion of Ukraine.

Japan’s benchmark index Nikkei 225 rose 0.14%, South Korea’s KOSPI closed a tad higher, and Australia’s ASX 200 index added 0.26%. The Straits Times Index in Singapore also rose 0.4%.

Meanwhile, the Hang Seng index in Hong Kong dived 2.5%, Taiwan’s Weighted index slipped 0.12%, and Indonesia’s Jakarta Composite shed 0.67%.

In mainland China, the Shenzhen Component fell 1.9%, while the Shanghai Composite plunged 1.2%.

European stocks slide on Ukraine woes

Extending fall for the third straight session, European stocks edge lower in opening trade on Friday as the escalating Russia-Ukraine tensions weighed on market sentiments. Germany’s DAX fell 0.07%, while the U.K.’s FTSE 100 index dropped 0.3%. France’s CAC index shed 0.2%, while Spain’s IBEX 35 dived 0.16% in early deals.

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