Market Today: Nifty holds 17000, Sensex down 391 pts
Market Today-Nifty & Sensex- Indian stock market indexes made a lower opening on Thursday amid weak global cues. Nifty today opened at 17087.35 levels down by 36.25 points from its previous closing while Sensex made a negative opening of 113.17 points at 57512.74 levels. Indian markets traded below their neutral lines today and closed in the negative territory.
Stock Market News and Updates Today
The market sentiments were downbeat due to India’s weak economic data released after the market hours on Wednesday. Traders remained cautious, as IMF officials said that India`s debt ratio is projected to be 84 % of its GDP by the end of 2022, which is higher than many emerging economies, but its debt is a little bit easier to sustain.
Some cautiousness was also witnessed ahead of the US inflation data, which is expected later in the day. Traders were also concerned, as the US Federal Reserve Governor Michelle W. Bowman said that a `sizable increase` in the key interest rate would remain on the table if inflation continues to remain on the higher side. However, she believes a slower pace of rate increases would be appropriate if inflation starts to decline.
On the global front, the other Asian stock market today closed in the red, as producer prices in Japan spiked 9.7 percent on year in September. It was higher than expectations for an increase of 8.8 percent and accelerated from the upwardly revised 9.4 percent increase in August (originally 9.0 percent). European markets are trading slightly higher after erasing their early losses.
Sensex and Nifty at the close today
The Nifty 50 index was down by 109.25 points or 0.64 percent and closed at 17014.35 levels while the Sensex declined by 390.58 points or 0.68 percent and finished at 57235.33 levels. The Bank Nifty index ended lower today by 494.55 points or 1.26 percent on the spot level and ended at 38624
The broader market today closed lower in line with their larger peers today, as the Nifty midcap index declined by 211.85 points or 0.69 percent and closed at 30544.70 levels. The Nifty smallcap index closed lower today by 47.45 points or 0.50 percent at 9506.35 levels.
Nifty 50 Stocks top gainers and losers today
The top gainers in the Nifty 50 Stocks were HCL Tech, Sun Pharma, Coal India, Tata Motors, and Britannia and the top losers were Wipro, Adani Ports, SBI, SBI Life, and Larsen
The top gainers in the Nifty midcap index were Castrol, Dr. Lal Path Labs, and Nippon and the top losers were Indian Hotels, Escorts Kubota, and Dhani Services
The smallcap top gainers were RITES, Tanla Platforms, and Fine Organics while the top losers were India Cements, Alok Industries, and Sterling Wilson
The most active stocks in the Nifty index in terms of value were Wipro, Axis Bank, and HDFC Bank. The most active stocks in terms of volume were Wipro, Tata Steel, and Hindalco
On the sectoral front, Media, Metals, and Pharma sectors were closed in the green today. The sectors that fell the most were Banking, Financial Services, Realty, Consumer Durables, and IT
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