Share Market Today, Sensex Nifty Share Prices, Stock Market News Updates: The topline indices on BSE and National Stock Exchange (NSE) erased their morning gains and ended around 0.3 per cent lower on Thursday, the seventh straight session, weighed by Asian Paints and select IT and financial stocks amid weak global cues.
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The S&P BSE Sensex fell 188.32 points (0.33 per cent) to end at 56,409.96, while the Nifty 50 declined 40.50 points (0.24 per cent) to settle at 16,818.10. Both the indices had opened 0.9 per cent higher earlier in the day and rose as much as 1 per cent in the early morning deals with the Sensex reaching 57,166.14 and the broader Nifty touching 17,026.05, however, they gave the gains and turned negative in the afternoon deals.
On the Sensex pack, Asian Paints was the top loser of the day, falling over 4.5 per cent. It was followed by Tech Mahindra, Titan Company, Kotak Mahindra Bank, Bajaj Finance, Tata Consultancy Services (TCS), Wipro, Bajaj Finserv and State Bank of India (SBI). In contrast, ITC, Dr. Reddy’s Laboratories, Tata Steel, Sun Pharmaceutical Industries, Nestle India, Mahindra & Mahindra (M&M), IndusInd Bank and NTPC were the top gainers Thursday.
Among sectoral indices on NSE, the Nifty IT index slipped 0.92 per cent, Nifty Financial Services declined 0.51 per cent and the Bank Nifty dipped 0.30 per cent). On the other hand, Nifty Pharma rose 1.33 per cent, Nifty Media climbed 1.20 per cent.
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In the broader market, the S&P BSE MidCap index rose 75.36 points (0.31 per cent) to end at 24,512.97 and the S&P BSE SmallCap surged 176.47 points (0.63 per cent) to close at 28,047.11. The volatility index on NSE or India VIX fell 3.58 per cent to 21.30.
Going ahead, market participants will watch out for the outcome of the monetary policy committee (MPC) meeting of the Reserve Bank of India (RBI) on Friday. RBI Governor Shaktikanta Das will give a speech at 10 am Friday followed by a press conference at 12 pm.
“The initial upticks of the domestic market were short-lived due to its weak global peers and declining rupee. As the yield differential between India and the US fell to a multi-year low of 348 bps, foreign investors are still departing from the Indian market. Amid the ongoing global trend of aggressive rate hikes, markets are braced for a 50 bps increase by RBI. Investors eagerly await the central bank’s intervention to aid bank liquidity, curb currency depreciation, and provide updates on its monetary stance & GDP outlook,” Vinod Nair, Head of Research at Geojit Financial Services.
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Global Markets (from AP)
European stocks tumbled Thursday and Asian markets were mixed after British Prime Minister Liz Truss defended a tax-cut plan that rattled investors. London’s market benchmark plunged 2.3 per cent and Frankfurt lost 1.9 per cent in early trading. Shanghai and Hong Kong also declined. Tokyo and Seoul advanced. The future for Wall Street’s benchmark S&P 500 index was down 1.3 per cent.
In early trading, London’s FTSE 100 fell to 6,846.34 and Frankfurt’s DAX declined to 11,957.72. The CAC 40 in Paris sank 1.8 per cent to 5,660.81. On Wall Street, the future for the Dow Jones Industrial Average was off 1 per cent.
In Asia, the Shanghai Composite Index closed down 0.1 per cent to 3,041.20 after spending most of the day in positive territory. The Nikkei 225 in Tokyo gained 1 per cent to 26,422.05 while the Hang Seng in Hong Kong lost 0.5 per cent to 17,165.87.
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The Kospi in Seoul added less than 0.1 per cent to 2,170.93 and Sydney’s S&P ASX 200 was 1.4 per cent higher at 6,555.00.
