Nifty end below 18700, Sensex down 311 pts, Bank Nifty Drag

 

Sensex and Nifty Today 15 June 2023: Indian stock market indexes snapped a three-day winning streak and closed lower. The domestic markets ended lower amid mixed global cues. The banking index fell sharply and dragged the Indian markets today.

The equity benchmarks indices erased all early gains and entered into red territory in late morning deals on account of selling in Infosys, IndusInd Bank, and Power Grid stocks. Traders were cautious as Fed indicated two more rate hikes in the current year. The market sentiment was further hit after IMD said India’s cumulative Monsoon rainfall was 51% below normal as of 15 June.

Further, traders become more cautious after the domestic rating agency Crisil said the growth in aggregate GST collection for states is likely to moderate to 12-14 percent in FY24 from 20 percent in FY23. 

 

Stock Market Indexes Today

 

The Nifty 50 index closed lower by 67.80 points or 0.36 percent and closed at 18688.10 levels while the Sensex was down by 310.88 points or 0.49 percent and finished at 62917.63 levels. The Bank Nifty index ended lower by 544.40 points or 1.24 percent on the spot level and closed at 43443.60 levels

The broader markets outperform the benchmarks today, as the Nifty midcap index was up by 73.70 points or 0.21 percent and closed at 34907 levels. The Nifty smallcap index ended higher by 16.25 points or 0.15 percent at 10636.60 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Apollo hOspital, Divis Lab, Dr. Reddy, Cipla, and BPCL, and the top losers were Hero Motors, IndusInd Bank, Wipro, SBI, and Kotak Bank

The top gainers in the Nifty midcap index were TI India, L&TFH, and Dixon  and the top losers were Prestige, ZEEL, and PNB

The smallcap top gainers were Graphite, Brightcom Group, and KEI while the top losers were RBL Bank, Elgi Equipements, and TV18 Broadcast 

The most active stocks in the Nifty index in terms of value were HDFC, Bank, ICICI Bank, and Axis Bank The most active stocks in terms of volume were Tata Steel, ICICI Bank and SBI

On the sectoral front, Nifty Pharma, FMCG, and Auto closed higher while the sector that closed in the red were PSU Banks, Bank Nifty Media and Financial Services

 

Global Stock Market Today

 

Asian stock market indexes mostly closed higher on Thursday as investors digested US Fed’s hawkish pause in rate hikes. Hang Seng gained over 2% led by health care, consumer cyclical and tech stocks. Shanghai index also gained despite weak economic data, as  China’s central bank lowered its key medium-term lending rates, in a much-anticipated move.

Japan’s Nikkei erased early gains and closed flat to negative while Kospi ended lower on Thursday. European stock markets are trading lower due to the hawkish Fed’s outlook and cautiousness ahead of the European Central Bank’s interest rate decision, due later in the day.

 

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Happy Investing!!

Editorial desk