Stock Market Today, Sensex, Nifty Share Prices Updates: The benchmark equity indices on the BSE and National Stock Exchange (NSE) snapped from their four-session winning streak and ended 0.37 per cent lower after a volatile session on Wednesday weighed by market heavyweight Reliance Industries (RIL) and information technology (IT) stocks.
Earlier in the day, the S&P Sensex had opened 1,153.96 points (1.91 per cent) lower at 59,417.12 while the Nifty 50 had tanked 298.90 points (1.65 per cent) to 17,771.15 at the opening bell, however, they soon recouped most of their opening losses during the intraday trade but remained in the negative territory through the bulk of the session.
Eventually, the Sensex ended 224.11 points (0.37 per cent) lower at 60,346.97 while the broader Nifty slipped 66.30 points (0.37 per cent) to settle at 18,003.75.
On the Sensex pack, Infosys, Tata Consultancy Services (TCS), Tech Mahindra, HCL Technologies, Larsen & Toubro (L&T), Wipro and RIL were the top losers of the day while IndusInd Bank, Power Grid Corporation of India, NTPC, State Bank of India (SBI), Kotak Mahindra Bank, Tata Steel, Bajaj Finserv, HDFC bank Bajaj Finance and ICICI Bank were the top gainers.
Among the sectoral indices on NSE, the Nifty IT index ended 3.36 per cent lower, while the Nifty Realty slipped 0.69 per cent and the Nifty Oil & Gas cracked 0.87 per cent. In contrast, the Bank Nifty rose 1.30 per cent and the Nifty Metal index climbed 1.58 per cent.
In the broader market, the S&P BSE MidCap ended at 26,225.31, down 26.77 points (0.10 per cent) while the S&P BSE SmallCap settled at 29,892.37, down 1.60 points (0.01 per cent).
“Although the opening hours of the domestic market mirrored the sharp sell-off in the global market, it steadily recovered as investors gained the confidence to bottom fish, thanks to the brighter prospects for the home economy. The expectation that the Fed would become less hawkish, which had spurred the most recent global rally, was dashed by worse than anticipated US inflation figures. Additionally, India’s easing WPI inflation numbers added more optimism with banking stocks leading the recovery, while the IT sector’s performance was bleak due to recession fears in western markets,” said Vinod Nair, Head of Research at Geojit Financial Services.
Global Market (from AP)
World markets slipped on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the US economy.
European benchmarks were marginally lower while Asia saw bigger losses. US futures edged higher, with the contracts for the Dow industrials and the S&P 500 up 0.3 per cent. European futures were lower.
Germany’s DAX lost 0.2 per cent to 13,165.86 and the CAC 40 in Paris gave up 0.3 per cent to 6,2275. Britain’s FTSE 10 shed 0.7 per cent to 7,334.75. The futures for the Dow industrials and S&P 500 both were down about 0.3 per cent.
Hong Kong’s Hang Seng index lost 2.3 per cent to 18,875.59 and the Shanghai Composite index declined 0.8 per cent, to 3,237.54. Tokyo’s benchmark Nikkei 225 lost 2.8 per cent to 27,818.62, while Sydney’s S&P/ASX 200 declined 2.6 per cent to 6,828.60. In Seoul, the Kospi lost 1.6 per cent to 2,411.42.