Nifty end at 19331, Sensex down 505 pts, FMCG, Realty & Energy drag
Sensex and Nifty Today July 7, 2023: Indian equity benchmarks ended lower on Friday, tracking overnight losses on Wall Street as well as weakness from Asian markets. A slew of economic data was released on Wall Street overnight added to concerns about the outlook for interest rates following Wednesday`s hawkish Federal Reserve minutes.
Other than weak global cues, investors also became cautious after a study by researchers at the Reserve Bank of India said the surging tomato prices can potentially disrupt India`s inflation trajectory.
However, the downside was limited, as some support came in with a report that concerns over the performance of southwest monsoon this year eased to a large extent on July 06. The rainfall deficiency now declined to just 5% from over 40% a fortnight ago, and cumulative rainfall is predicted to reach a normal level in the next 48 hours.
Stock Market Indexes Today
The Nifty 50 index closed lower by 165.50 points or 0.85 percent and closed at 19366 levels while the Sensex was down by 505.19 points or 0.77 percent and finished at 65280.45 levels. The Bank Nifty index ended lower by 414.90 points or 0.92 percent on the spot level and closed at 44925 levels
The broader markets ended lower today, as the Nifty midcap index was down by 296.30 points or 0.81 percent and closed at 36076.80 levels. The Nifty smallcap index ended lower by 48.80 points or 0.44 percent at 11118.60 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were Tata Motors, Titan, M&M, SBI, and TCS and the top losers were Adani Ports, Power Grid, Apollo Hospital, IndusInd Bank, and Britannia
The top gainers in the Nifty midcap index were ZEEl, PNB, and Sona Blw and the top losers were AU Bank, M&M Fin, and Deepak Nitrate
The smallcap top gainers were Praj Ind, Kalyan Jewellers, and PVR Inox while the top losers were Intellect, India Mart, and MRPL
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and Bharti Airtel. The most active stocks in terms of volume were Tata Steel, Tata Motors, and Bharti Airtel
On the sectoral front, Media, PSU Bank, and Auto closed higher while the sector that closed in the red were FMCG, Realty, and Energy.
Global Stock Market Today
European stock markets erase some early losses and are trading mixed on Friday, after a sharp fall in the previous session. Asian markets mostly closed in the red for the second consecutive day due to strong economic data released in the US overnight, which raised fear of more rate hikes.
All major stock market indexes, Nikkei, Hang Seng, Shanghai, and Kospi extended their previous session losses.
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Editorial desk
