ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » India News

Nifty50's Friday jinx moderates but remains unbroken

The NSE`s Nifty50 has not managed to break a recent jinx that lasted for over five consecutive Fridays till today, when one or more index-based stock was heavily hammered to the tune of over 10 per cent.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Nifty50's Friday jinx moderates but remains unbroken
The NSE`s Nifty50 has not managed to break a recent jinx that lasted for over five consecutive Fridays till today. Image source: Reuters

The NSE`s Nifty50 has not managed to break a recent jinx that lasted for over five consecutive Fridays till today, when one or more index-based stock was heavily hammered to the tune of over 10 per cent.

However, the jinx has weakened as the fall magnitude of some Nifty50 stocks has drastically reduced.

Market data for all Fridays between January 18 and February 22, has shown that one or more index stocks like Sun Pharma, Zee Entertainment, Yes Bank, Dr Reddy`s and Tata Motors have been dented heavily.

What started with Sun Pharma in early January, when the pharma major took a heavy hit following allegations of money laundering by a whistleblower, continued until last week when ADAG stock fell heavily.

The jinx remained unbroken on this Friday, February 22, as Kotak Mahindra Bank, Gail and HDFC Bank stocks slid. However, the index ended flat at 10,791.65 points, inching up by 1.80 points or 0.02 per cent. 

"Friday was the favourite day for bears and one or the other Nifty50 stock was hammered over the last five weeks. Yes Bank, Dr Reddy`s, Sun Pharma, Zee Entertainment and Tata Motors were the losers. Today was the first Friday after 5 weeks where things passed of peacefully...," said a market analyst.

"While there were other stocks that faced market fury, it happened on other than Fridays and was not part of the benchmark index. Some other names include Apollo Hospitals and Emami. The ADAG group stocks were also hammered after the sale by lenders," the analyst added. 

"The fact that the five stocks mentioned above are part of the Nifty, they have futures and that makes the stock even more volatile," the analyst said. 

According to Deepak Jasani of HDFC Securities, high volatility has caused the retail investors to shy away from investing during the past few weeks. It would work in favour of the investors, if such movements stop and more importantly stay that way for the weeks to come.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Nifty
Written By: IANS
Updated: Fri, Feb 22, 2019
10:27 pm
IANS
RELATED NEWS
Into its 4 months, know how Russia-Ukraine conflict has impacted markets? Into its 4 months, know how Russia-Ukraine conflict has impacted markets?
Nifty to slide to 14,500 by year-end, rupee to depreciate to 81: BofA Securities Nifty to slide to 14,500 by year-end, rupee to depreciate to 81: BofA Securities
Analysts see volatility in Indian market to continue, say global trends, foreign fund movement, oil prices to guide markets next week Analysts see volatility in Indian market to continue, say global trends, foreign fund movement, oil prices to guide markets next week
Opening Bell: Nifty slips below 15,700, Sensex tanks around 350 points; IT worst hit, metal, energy gain  Opening Bell: Nifty slips below 15,700, Sensex tanks around 350 points; IT worst hit, metal, energy gain
Closing Bell: Market witness heavy sell-off for 2nd day in row; Sensex down 1450 points, Nifty below 15800-level - Bajaj twins top losers Closing Bell: Market witness heavy sell-off for 2nd day in row; Sensex down 1450 points, Nifty below 15800-level - Bajaj twins top losers

LATEST NEWS

Stocks to buy: Sanjiv Bhasin picks HDFC AMC, Jubilant Food, Coforge for gains today; check why

Apple iPhone 14 series launch: Check latest updates - expected release date, price, specifications and more

Buy, Sell or Hold: What should investors do with Strides Pharma, MRPL and IEX shares?

Crude oil prices take a breather after three-day rally

Ashish Kacholia Stocks: This multi-bagger counter surges for 3rd day in row, up 13% - know what’s driving the rally

How rising crude oil prices, falling Rupee impact stock market? Anil Singhvi decodes

NSE Co-location Scam: Sebi fines exchange with Rs 7 cr, imposes Rs 5cr penalty on Chitra Ramkrishna

Closing Bell: Sensex down 150 points, Nifty below 15800 – IT, FMCG, Bank stocks drag most

GST Council Meeting: These two important agendas before council on Day 2 – know details

DCGI approves Serum Institute's indigenous mRNA Covid jab Covovax for emergency use between 7-11 years

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV