Nifty snaps 6-day winning streak, ends below 16650
Sensex, Nifty Today: It was a negative start for the Indian stock markets on Monday amid weakness in global peers. Nifty today opened at 16662.55 levels, down by 56.9 points while Sensex made a negative opening of 194.73 points at 55877.50 levels. The key indices, Sensex, and Nifty traded below their neural lines throughout the day and closed more than half a percent lower today
Stock Market News and Updates Today
Indian markets traded lower throughout the day as investors were cautious ahead of the Fed’s meeting outcome which is due later this week. The markets traded negatively below their psychological levels, as index heavyweight Reliance fell over 3% after its quarterly results.
Some cautiousness came into the market with a private report that the Indian rupee may further depreciate to 82 against a US dollar in the near term due to the widening of the trade deficit and expected aggressive rate hike by the US Fed later this week.
However, traders took note of Finance Minister Nirmala Sitharaman’s statement that the trust-based taxation system introduced by the government has resulted in improved collections and an increase in the number of return filings.
On the global front, the other Asian markets mostly closed in the red on Monday following the negative cues from Wall Street on Friday. Investors worried about the slowing economic growth and policy tightening and preferred to book profit ahead of the US Federal Reserve interest rate decision outcome expected later this week.
European markets are trading marginally higher on Monday ahead of a series of events like quarterly earnings, the Fed’s policy outcome, and US GDP.
Sensex and Nifty at the close today
The Nifty index declined by 88.45 points or 0.53 percent and closed at 16631 levels while Sensex was down by 306.01 points or 0.55 percent and finished at 55766.22 levels. The Bank Nifty index ended lower today by 12.55 points or 0.03 percent on the spot level and ended at 36726.40
The broader markets also closed lower today, the Nifty midcap index declined by 27.10 points or 0.09 percent and closed at 29020.75 levels. The Nifty smallcap index closed lower by 52.85 points or 0.58 percent and finished at the 9075.90 level
Nifty top gainers and losers today
The top gainers in the Nifty50 index were Tata Steel, IndusInd Bank, Coal India, Apollo Hospital, and Hindalco whereas the top losers were M&M, Reliance, Maruti, Eicher Motors and ONGC
The midcap top gainers were Navin Fluo, Balkrishna Ind, and Indian Hotels and the top losers were Oil India, Guj State Petronet, and PB Fintech
The top gainers in the Nifty smallcap index were Allcargo logistic, Sonata Software, and Delta Corp, and the top losers were HFCL, IDFC, and Suzlon
The most active stocks in the Nifty index in terms of value were Reliance, ICICI Bank, and INFY The most active stocks in terms of volume were ONGC, ICICI Bank, and Tata Motors
On the sectoral front, barring Metals, and IT all other sectors closed lower today. The sectors that dragged the markets were Auto, Oil & Gas, Pharma, Media, and Reality
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