‘Stocks landslide to a near 4-week low’ | Daily News

‘Stocks landslide to a near 4-week low’

Market experienced the largest intraday loss for the week on the 3rd consecutive day of downfall recording a near 4-week low.

Index experienced a dip within the first few minutes of trading followed by a short-lived uptrend. Subsequently market witnessed a landslide for the rest of the session hitting its intraday low of 7,689 before closing at 7,732 losing 231 points.

Materials sector led the turnover for the session closely followed by Capital Goods sector making a combined contribution of 53%. Market witnessed low foreign participation dominated by the selling side resulting in a net outflow.

The secondary bond market yield curve remained broadly unchanged while overall market witnessed ultra-thin volumes.

In the belly end of the yield curve, 01.12.24 changed hands at 6.55% while 15.10.27 traded at 7.32%. At the bill auction held yesterday, 3M bill yield increased by 2bps to 4.72%, 6M bill by 7bps to 4.85% and one year bill by 2bps to 5.04% while only 35% of the offered value got accepted.