Market Today: Nifty index end below 18050, Auto stocks drag
Market Today: Sensex and Nifty Index- With a gap-down opening, the Indian stock market benchmarks have extended their previous session’s losses on Thursday. Today Nifty index opened at 18044.35 levels, down by 112.65 points, while Sensex made a lower opening of 509.28 points at 60524.27 levels. The domestic markets traded below their neutral lines throughout the day and ended in the red today.
Stock market News and Updates Today
The Indian market sentiments got hit due to the weak global cues, as investors are concerned about the US inflation data, which is due later in the day. Traders were also concerned with a private report that said India`s GDP growth will slow down to 5.5 percent in FY24 from the 6.9 percent expected in the current financial year 2022-23. The slowdown was attributed to slowing global growth and tightening of monetary policies
On the global front, the other Asian markets mostly closed in the red on Thursday following the broadly negative cues from Wall Street overnight, as a stronger US dollar weighed on crude oil prices and on most of its major Asian rivals. European markets are trading lower following negative cues from Wall Street and Asian market peers.
Sensex and Nifty index at the close today
The Nifty index was down by 128.80 points or 0.71 percent and closed at 18028.20 levels while the Sensex declined by 419.85 points or 0.69 percent and finished at 60613.70 levels. The Bank Nifty index closed lower by 179.45 points or 0.43 percent on the spot level and ended at 41603.75
The broader markets underperformed the benchmarks today, as the Nifty midcap index closed lower by 367.65 points or 1.16 percent and at 31358.65 levels. The Nifty smallcap index declined by 112.90 points or 1.15 percent at 9668.60 levels.
Nifty 50 Index top gainers and losers today
The top gainers in the Nifty 50 Stocks were Hero Motorcorp, HDFC Bank, Kotak Mahindra, ONGC, and Bharti Airtel and the top losers were Tata Motors, Axis Bank, Bajaj Finserve, M&M, and Titan Company
The top gainers in the Nifty midcap index were Godrej Properties, Endurance Techn, and Union Bank and the top losers were Deepak Nitrate, Ramco Cement, and Dhani Services
The smallcap top gainers were Future Retail, Century Plyboard, and Fine organics while the top losers were Quess Corp, RITES, and Ircon International
The most active stocks in the Nifty index in terms of value were Axis Bank, Tata Motors, and HDFC Bank The most active stocks in terms of volume were Tata Steel, Tata Motors, and Coal India
On the sectoral front, all sectoral indices were closed in the red today. The sectors that dragged the markets were Auto, PSU Bank, Consumer Durables, Pharma, and Financial Services
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