Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.
Ahead of US inflation data and fear of further aggressive rate hikes from central banks, benchmark equity indices closed lower on Thursday, dragged by banking, financial and IT stocks.
The 30-share Sensex ended 390 points lower at 57,235. Its broader peer, Nifty50, ended at 17,014, down 109 points. Wipro was the biggest loser from the 30-share pack, falling 7.03 per cent to Rs 379.1 after weak Q2 results.
SBI, L&T, ICICI Bank, Asian Paints and Bajaj Finance were also among the top losers, declining around 1-2 per cent. However, HCL Tech, Sun Pharma, Dr Reddy’s Labs and Reliance ended the session with gains. Sectorally, the Nifty PSU Bank index was the top loser, declining 1.58 per cent.
Nifty Financial Services, FMCG, Realty, Pvt Bank and Consumer Durables indexes also ended with cuts. Nifty Midcap50 and Smallcap50 fell 0.93 per cent and 0.59 per cent, respectively.
Earlier in Asian Market, Japan’s Nikkei 225 fell 0.60 per cent, South Korea’s Kospi plunged 1.80 per cent, and Hong Kong’s Hang Seng declined 1.87 per cent. The rupee rose 0.05 per cent to close at 82.35 against the US dollar.
While Brent crude December futures surged 0.18 per cent to $92.62 per barrel. The market capitalisation of all listed companies on BSE decreased Rs 1.76 lakh crore to Rs 269.88 lakh crore. The market breadth was skewed in favour of bears. About 1,298 stocks declined, 2,134 gained, and 130 remained unchanged.
Mr Nagaraj Shetti of HDFC Securities said the underlying trend of Nifty remains choppy and the market is not showing any strength to sustain the highs.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
