Nifty 50 and Sensex Close in Red as IT and Realty Sectors Weigh Down
Sensex and Nifty 50 Today Aug 18, 2023: Indian stock markets ended the volatile session with moderate losses on Friday. The markets opened lower amid negative global cues and extended losses. In the last hour, the key indices erased most of the intraday losses and closed marginally lower.
Investors remained cautious, as a private report stated that private equity and venture capital funds` investments in the country declined 5 percent to $3.9 billion across 59 deals in July.
Meanwhile, the income tax department has come out with a draft form for various categories of businesses to report the valuation of their inventories, including equity and debt securities, livestock, or other raw material/by-products, by a cost accountant when asked by a tax officer.
Sensex and Nifty 50 Indexes Today
The Nifty 50 index closed lower by 55.10 points or 0.28 percent and closed at 19310.15 levels while the Sensex was down by 202.36 points or 0.31 percent and finished at 64948.66 levels. The Bank Nifty index ended lower by 40.30 points or 0.09 percent on the spot level and closed at 43851.05 levels.
The broader markets also closed lower in line with their larger peers today, as the Nifty midcap index was down by 80.10 points or 0.21 percent and closed at 37815.40 levels. The Nifty smallcap index ended lower by 61.95 points or 0.53 percent at 11683.35 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Adani Enterprise, Adani Ports, Eicher Motors, Maruti, and Nestle India and the top losers were Hero Motors, Coal India, TCS, Hindalco, and TechM
The top gainers in the Nifty midcap index were Adani Power, CG Power, and JSW Energy, and the top losers were Gland Pharma, Astral, and LIC Hosg Fin.
The smallcap top gainers were VTL, TV18 Broadcast, and Hudco while the top losers were BCG, Manappuram, and Cochin Shipyard.
The most active stocks in the Nifty index in terms of value were Adani Enterprise, Reliance, and HDFC Bank. The most active stocks in terms of volume were Tata Steel, Adani Ports, and SBI.
On the sectoral front, Media, Metal, and FMCG closed higher while the sector that closed in the red were IT, Pharma, and Realty.
Global Stock Market Today
Asian stock market indexes closed lower on Friday tracking the negative cues from the US markets overnight. Nikkei closed lower, as Japan’s retail inflation came at 3.3% in July unchanged from June’s reading. However, the core inflation fell to 3.1% from 3.3% in line with the expectations.
Shanghai erased early gains and ended lower, as Chinese real estate giant Evergrande has filed for bankruptcy protection in a U.S. bankruptcy court. Hang Seng fell the most in the region, down over 2%, elsewhere, Kospi, Taiwan, Straits Times, SET, and Jakarta all major indexes ended in the red.
European stock markets are trading lower on Friday, as investors fear renewed interest rate hikes in the US and fresh concerns about China’s property sectors. Adyen shares fell another 5% on Friday after Friday’s sharp fall, as the company missed quarterly earnings expectations.
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