Sensex tanks 1093 pts, Nifty settle below 17550 today
Nifty and Sensex Today 16 Sept 2022: Indian stock markets opened lower on Friday amid negative global cues. Nifty opened at 17796.80 levels, down by 80.6 points while Sensex today opened at 59585.72 levels down by 348.29 points. Indian markets fell sharply and extended their early losses on the last day of the week.
Stock Markets News and Updates Today
The domestic markets continued their bearish trade on Friday tracking weakness on Wall Street overnight coupled with lackluster trade in Asain counterparts. Markets were trading lower amid concerns over the country’s economic growth, as India Ratings cut the forecast to 6.9 percent from 7 percent. The agency expects a slowdown in the growth of government final consumption expenditure (GFCE) and a worsening of net exports to weigh on the FY23 GDP growth.
Foreign fund outflows for the last two days continue to dampen the market sentiments. FIIs have net sold shares worth Rs 1270.68 crore on September 15 as per provisional data available on the NSE. However, the downside was limited as Union Home Minister for Petroleum and Natural Gas Hardeep Singh Puri said that India is on the path to becoming a 10 trillion economy in 2030 and the third largest economy in the world by 2047.
On the global front, all the Asian markets were closed lower following the broadly negative cues from the US markets overnight, as weak crude oil and bullion prices weigh on energy and materials stocks. Traders also pause to assess the impact of the proposed aggressive interest rate hikes by global central banks in their bid to reign in surging inflation. European key stock market indexes are mostly trading in the red on Friday.
Sensex and Nifty at the close today
The Nifty50 index was down by 346.55 points or 1.94 percent and closed at 17530.85 levels while the Sensex declined by 1093.22 points or 1.82 percent and finished at 58840.79 levels. The Bank Nifty index ended lower today by 432.40 points or 1.05 percent on the spot level and ended at 40776.80
The broader markets underperformed the benchmarks today, as the Nifty midcap index declined by 920.80 points or 2.84 percent and closed at 31494.90 levels. The Nifty smallcap index closed lower today by 257.95 points or 2.56 percent at 9817 levels.
Nifty50 Stocks top gainers and losers today
The top gainers in the Nifty50 Stocks were IndusInd Bank, and Cipla and the top losers were UPL, Tata Consumer, Tech Mahindra, Ultratech Cement, and Infosys
The midcap top gainers were Max financials, Varun Beverages, and Sanofi India and the top losers were Indiabulls Hsg, Balkrishna Industries, and Emami
The top gainers in the Nifty smallcap index were Karur Vysya, Mishra Dhatu Ni, and Bharat Dynamics and the top losers were Kalpaturu Power, Strides Pharma, and GNFC
The most active stocks in the Nifty index in terms of value were Infy, Reliance, and IndusInd Bank The most active stocks in terms of volume were Tata Steel, NTPC, and Power Grid
On the sectoral front, all sectoral indices were closed lower today. The sectors that closed in the deep red were Media, Realty, IT, Auto, and Oil & Gas
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