Closing Bell: Sensex down 456 pts Nifty ends below 18300
Closing Bell: Sensex down 456 pts Nifty ends below 18300
Indian stock markets closed in the red for the second consecutive day. At the close, Sensex was down by 456.09 points or 0.73 percent and closed at 61259.96 while Nifty declined 152.15 points or 0.82 percent and finished at 18266.60 levels. The Bank Nifty spot price fell 22.30 points or 0.05 percent and closed at 39518.20 levels.
The broader markets fell the most, underperformed the benchmark indices today. The Nifty midcap index was down by 692.40 points or 2.15 percent and closed at 31478.30 levels. The Nifty smallcap index fell 278.60 points or 2.43 percent and ended at 11202.10.
The top five gainers in the Nifty 50 index were Bharti Airtel, SBI, Tata Motors, IndusInd Bank, and ITC. The top five losers in the Nifty 50 Index were Hindalco, Titan, Hindustan Unilever, BPCL, and Bajaj Finserve. The most active stocks in the Nifty50 index in terms of value were Tata Motors, SBI, and Reliance. The most active stocks in terms of volume were Tata Motors, ITC, and SBI.
On a sectoral front, barring Nifty PSU Bank and Media, all other sectors closed in the red today. The sectors that dragged the markets were Nifty Metals, Realty, FMCG, Consumer Durables, Energy, and Pharma.
Sensex and Nifty are trading lower, Metals, Energy, and Realty stocks are down
Indian stock markets are trading almost half percent lower due to selling in metals, utilities, and power stocks. Traders are cautious with a private report that current account leading to higher imports and a rise in current account deficit, which is likely to print at 1.3 percent of the GDP or $40 billion, up from 0.9 percent surplus last fiscal
Some cautiousness was also added as International Monetary Fund (IMF) on Tuesday, trimmed the current year’s economic growth forecast for Asia and warned that a fresh wave of Covid-19 infection, supply chain disruptions, and inflation pressure pose downside risk to the outlook, as per Reuters report.
China’s economy will by 8.0% this year and 5.6% in 2022, but the recovery remains unbalanced as repeated coronavirus outbreaks and fiscal tightening weigh on consumption as per the report
Meanwhile, a single GST rate is likely to consider for online gaming, racecourses, casino and it may go up to 28% in the next GST council meet. The market downside remained capped a Services Export Promotion Council (SEPC) said that India’s service export is expected to reach over $240 billion 2021-22 as a performance of professional and management consulting services, audiovisual, freight transport services, and telecommunications.
At 12 pm, Indian market indexes are trading lower, Sensex is trading 0.36 percent down whereas Nifty is trading lower by 0.47 percent. The Bank Nifty spot price is trading flat. The Nifty midcap and smallcap indexes are trading lower by 1.46 percent and 1.86 percent respectively.
You may also like to read, Nifty and Bank Nifty Prediction for Tomorrow, 20 Oct 2021
Sensex and Nifty are trading flat, PSU Bank, Media stocks in focus
Indian stock markets opened slightly higher on Wednesday tracking positive cues from the global markets. Markets are trading volatile in the morning session today. Nifty opened at 18439.90, up by 21.15 points while Sensex made a positive opening of 84.02 points at 61800.07 levels. The Bank Nifty spot price opened flat, just 4.95 points higher at 39545.45 levels.
At 10.30 am, Sensex and Nifty are trading higher by 0.13 percent and 0.04 percent respectively. The Bank Nifty spot price is also trading positively, up 0.40 percent from the previous close. The broader markets extended their losses, continue to trade in the negative zone. The Nifty midcap index is trading lower by 0.81 percent and the smallcap index is down by 0.95 percent at this moment.
Bharti Airtel, SBI, and HCL Tech are trading as the top gainers in the Nifty index whereas Hindalco, Eicher Motors, and Bajaj Finserve are trading as the top loser.
On a sectoral front, Nifty PSU Bank, and Media are trading in the green whereas Nifty Metal, Realty, Energy are trading in the red
Happy Investing!!
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