Nifty ends below 16500, Sensex down 498 pts, IT stocks drag
Sensex and Nifty Today: Indian stock markets opened flat on Tuesday amid mixed global cues. Nifty today opened at 16632.90 levels, up by only 1.9 points while Sensex made a slightly positive opening by 68.16 points at 55834.38 levels. The benchmark indices turned negative soon after opening and extended their losses today at the close.
Stock Market News and Updates Today
The domestic indices remained in the bear’s grip throughout the day, as investors were cautious ahead of the US monetary policy outcome and preferred to book profit. The market sentiments were also cautious on the private report that though the monsoon in India is tracking at 11% above normal, the distribution is uneven across the country and could pose a threat to this year’s foodgrain production and may worsen the inflation outlook.
On the global front, Asian markets were closed mixed following the mixed cues from Wall Street overnight. The sentiments were also improved after the news of a decline in fresh covid cases in China to the lowest level in more than a week. European markets are trading flat as the fall in UBS share tempering the sentiments and a rise in commodity stocks.
Sensex and Nifty at the close today
The Nifty index declined by 147.15 points or 0.88 percent and closed at 16483.85 levels while Sensex was down by 497.73 points or 0.89 percent and finished at 55268.49 levels. The Bank Nifty index ended lower today by 317.90 points or 0.87 percent on the spot level and ended at 36408.50
The broader markets underperformed as compared to benchmarks today, the Nifty midcap index declined by 362 points or 1.25 percent and closed at 28658.75 levels. The Nifty smallcap index closed lower by 134.75 points or 1.48 percent and finished at the 8941.15 level
Nifty top gainers and losers today
The top gainers in the Nifty50 index were Bajaj Finserve, JSW Steel, Grasim, Bharti Airtel, and Coal India whereas the top losers were Infosys, HUL, Axis Bank, Dr. Reddy’s Labs, and Bajaj Auto.
The midcap top gainers were Sun TV Network, Castrol, and Ramco Cement and the top losers were Mphasis, L&T Technology, and Mindtree
The top gainers in the Nifty smallcap index were Ujjivan Small, Dilip Buildcon, and Karur Vysya and the top losers were Tanla platforms, Sonata, and Sterlite Techno
The most active stocks in the Nifty index in terms of value were Bajaj Finserve, Reliance, and Tata Steel. The most active stocks in terms of volume were ONGC, Axis Bank, and Coal India.
On the sectoral front, barring medial other sectors closed lower today. The sectors that dragged the markets were IT, FMCG, Auto, Pharma, and Consumer Durables.
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