Closing Bell: Nifty end below 16200, Sensex down 276 pts
Nifty and Sensex Today 11 May 2022: Indian stock markets opened slightly higher on Wednesday amid positive cues from the other Asian market peers. Soon after opening, the benchmark indexes turned negative and traded negatively throughout the day. Nifty today opened at 16270.05 levels up by 30 points while Sensex made a positive opening of 180.05 points at 54511.91 levels.
Stock Market News Today
The local markets extended their previous day’s losses, as a heavy selling pressure built up in FMCG, IT, and Capital Goods counters. The market sentiments remained negative with the RBI’s report that showed outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis.
However, traders took note of ICRA Ratings report that in spite of a sharp 40 percent decline in bond issuance, states have been forced to pay more for their market borrowings as the weighted average interest rate touched a record 7.69 percent at the latest auctions of state government securities.
On the global front, the other Asian markets closed mixed on Wednesday, as investors awaited US inflation data later in the day for hints on the pace of interest rate hikes by the Fed. European markets are trading in the green as investors eye on the latest US inflation reading.
Nifty and Sensex indexes at the close today
The Nifty index declined by 72.95 points or 0.45 percent and closed at 16167.10 levels while Sensex was down by 276.46 points or 0.51 percent and finished at 54088.39 levels. The Bank Nifty index ended higher today by 210.50 points or 0.61 percent on the spot level and ended at 34693.15.
The broader markets were closed lower today. The Nifty midcap index was down by 97.80 points or 0.36 percent and closed at 27450.80 levels, in line with its larger peers. The Nifty smallcap index underperformed today, closed lower by 266.15 points or 2.91 percent, and finished at 8880.65 levels.
Nifty top gainers and losers today
The top gainers in the Nifty 50 index were ONGC, Axis Bank, IndusInd Bank, Cipla, and HDFC whereas the top losers were Shree Cements, Larsen, Bajaj Finserve, Bajaj Finance, and NTPC.
The top gainers in the Nifty midcap index were Gujarat Gas, SRF, and CG Consumer and the top losers were Indiabulls Hsg, JSW Energy, and CESC.
The smallcap top gainers were VIP Industries, Alkyl Aminies, and Fine Organics and the top losers were Welspun India, GNFC, and Happiest Minds.
The most active stocks in the Nifty index in terms of value were Reliance, Tata Steel, and INFY. The most active stocks in terms of volume were Tata Motors, Coal India, and ITC.
On a sectoral front, the Banking, Financials, Realty, and Metals sectors closed in the green today. The sectors that dragged down the markets were IT, Auto, FMCG, Pharma, and Consumer Durables.
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