Sensex down 1545 pts, Nifty below 17200 levels today
Sensex down 1545 pts, Nifty below 17200 levels today, Realty, Metals dragged the markets
The Indian stock markets opened in the red on Monday amid negative cues from the other Asain markets peers. Nifty opened at 17575.15 levels down by 42 points while Sensex made a negative opening of 13.21 points at 59023.97 levels. Indian markets later fell sharply and closed in the deep red on the first day of the week.
Stock Market News Today
Indian equity benchmarks remained under the grip of bears today and both Sensex and Nifty closed below their crucial levels. Heavy selling was witnessed across all sectors today. Traders got cautious, as a survey done by a consultancy firm has revealed that India Inc is staring at an “integrity crisis” in the second year of the pandemic.
Adding more worries, former RBI governor Raghuram Rajan said that the Indian economy has some bright spots and a number of very dark stains and the government should target its spending carefully so that there are no huge deficits. He mentioned the bright spots are the health of large firms, the roaring business the IT and IT-enabled sectors are doing, including the emergence of unicorns in a number of areas, and the strength of some parts of the financial sector.
On a global front, Asian markets are mostly closed in the red even after the manufacturing sector in Japan continued to expand in January, and at a faster rate, the latest survey from Jibun Bank showed on Monday. European markets are trading in the red as investors continued to worry about the pace of interest rate rises and growing US/Russian tensions over Ukraine.
Sensex and Nifty at the Close
At the close, Nifty was down by 468.05 points or 2.66 percent and closed at 17149.10 levels while Sensex declined 1545.67 points or 2.62 percent and finished at 57491.51 levels. The Bank Nifty index closed lower today, it was down by 626.75 points or 1.67 percent on spot and ended at 36947.55 levels.
The broader markets underperformed today as compared with the benchmark, as midcap and smallcap indexes closed lower by more than 3.5 percent today. The Nifty midcap index was down by 1180.60 points or 3.86 percent and closed at 29383 levels. The Nifty smallcap index closed lower by 546.05 points or 4.78 percent and finished at 10870.90 levels.
Top Nifty Gainers and Losers
The top gainers in the Nifty 50 index were Cipla and ONGC whereas the top losers were JSW Steel, Tata Steel, Bajaj Finance, Grasim, and Hindalco.
The top gainer in the Nifty midcap index was Endurance Techn and the losers were Godrej properties, ICICI Securities, and Vodafone Idea.
The top gainers in the Nifty smallcap index were Avanti Feeds, JK Lakshmi Cement, and Aarti Drugs the losers were Just Dial, Affle India, and Route.
The most active stocks in the Nifty index in terms of value were reliance, ICICI Bank, and Bajaj Finance. The most active stocks in terms of volume were ICICI Bank, ONGC, and Tata Motors
On a sectoral front, all other sectors closed in the red today. The sectors that dragged the markets were Realty, Metals, Media, IT, and Consumer Durables.
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