Sensex & Nifty Today: Indian stock markets opened a gap down on Monday mirroring an extremely weak trend in Asian markets. Nifty today opened at 17009.05 down by 162.9 points while Sensex made a negative opening of 439.51 points at 56757.64 levels. The benchmark indexes extended their losses and closed below their ( Sensex 57K & Nifty17K ) physiological levels today.
Stock Market News Updates
The market sentiments were subdued due to continuous foreign fund outlaws and selling in heavyweight stocks like Reliance, Tata Steel, Tech Mahindra, and HUL. Traders were also cautious as a multinational investment banking firm has cut India’s 2022-23 economic growth forecast by 70 bps to 7 percent, citing slowing global growth due to high commodity prices and weak local demand because of energy prices hikes, inflationary pressures, and a struggling labor market.
However, traders have ignored the economic survey done by think-tank NCAER stating that the business confidence index (BCI) improved in the Jan-March 2022 period and would remain optimistic in the coming months. Further, it said that the BCI increased for the third consecutive quarter by 14.9 percent on a quarterly basis from 124.4 points in the Oct-Dec of 2021-22 to 149.9 points in the fourth quarter.
On the global front, the other Asian markets fell sharply and closed their worst session in the last 45 days as fears rise that Beijing is on the verge of joining Shanghai in lockdowns. Meanwhile, the Chinese yuan has fallen to its lowest level in 17 months on fears of heavy outflows. European markets are also trading in the deep red following the negative cues from Asian market peers.
Nifty and Sensex indexes at the close today
At the close, the Nifty index declined 218 points or 1.27 percent and closed at 16953.95 levels while Sensex was down by 617.23 points or 1.08 percent and finished at 56579.89 levels. The Bank Nifty index ended higher today by 37.60 points or 0.10 percent on spot and ended at 36082.35 levels.
The broader markets were underperformed today. The Nifty midcap index declined by 582.75 points or 1.92 percent and closed at 29733.10 levels. The Nifty smallcap index closed lower by 254.60 points or 2.42 percent and finished at 10282.60 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Bajaj Auto, HDFC Bank, ICICI Bank, HDFC, and Maruti Suzuki whereas the top losers were Coal India, BPCL, Tata Steel. SBI Life, and Hindalco
The top gainers in the Nifty midcap index were Varun Beverages, AB Capital, and Emami and the top losers were Hind Zinc, Cummins, and Oberoi Realty.
The smallcap top gainers were IOL Chemicals, Shilpa, and Quess Corp, and the top losers were Balrampur Chini, Sunteck Realty, and Rain Industries.
The most active stocks in the Nifty index in terms of value were ICICI Bank, Reliance, and HDFC Bank The most active stocks in terms of volume were ICICI Bank, Coal India ITC
On a sectoral front, barring bank, all other sectoral indices closed lower today. The sectoral indices that drag the markets were Realty, Metal, Oil & Gas, IT, and Pharma
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Happy Investing!!
Editorial desk