Stock Market Crash- Nifty holds 17000, Sensex down 954 pts
Stock Market Crash Today: It was a negative start for the Indian stock markets on Monday amid weak global market cues. Nifty today opened at 17156.30 levels, down by 171.05 points while Sensex made a gap down opening of 573.89 points at 57525.03 levels. Indian stock market crashed today, indexes traded below their neutral line and closed in the deep red.
Stock Market News and Updates Today
Other than the weak global market cues, the sentiments were downbeat as Foreign Institutional Investors (FIIs) turned net sellers last week and sold consecutively for the last three days. FIIs offloaded Rs 2899.68 crore worth of shares on Friday. Traders remained cautious as S&P Global Ratings projected India’s economic growth at 7.3 percent in FY23 with downside risks and said inflation is likely to remain above RBI’s upper band of 6 percent till the end of 2022.
However, in the last hour markets extended their losses and closed in the deep red. Traders overlooked the commerce and industry ministry’s statement that the country is on track to attract $100 billion in foreign direct investment (FDI) in the current fiscal on account of economic reforms and ease of doing business in recent years.
On the global front, Asian markets were closed in the red following the negative cues from Wall Street on Friday. Investors are concerned about the monetary policy tightening by the central banks around the world to curb inflation will ultimately push the global economy into recession. European stock markets are trading marginally lower on Monday.
Sensex and Nifty at the close today
The Nifty50 index was down by 311.05 points or 1.80 percent and closed at 17016.30 levels while the Sensex declined by 953.70 points or 1.64 percent and finished at 57145.22 levels. The Bank Nifty index ended lower today by 930 points or 2.35 percent on the spot level and ended at 38616.25
The broader markets underperformed the benchmark indices today, as the Nifty midcap index declined by 966.90 points or 3.11 percent and closed at 30111.80 levels. The Nifty smallcap index closed lower today by 326.90 points or 3.41 percent at 9262.55 levels.
Nifty50 Stocks top gainers and losers today
The top gainers in the Nifty50 Stocks were Asian Paints, HCL Tech, Infosys, Divis Lab, and Ultratech Cement and the top losers were Tata Motors, Hindalco, Adani Ports, Maruti Suzuki, and Eicher Motors.
The midcap top gainers were Emami, Dr. Lal Path Labs, and Ipca Labs and the top losers were RBL Bank, JSW Energy, and Jindal Steel
The top gainers in the Nifty smallcap index were JB Chemicals, Westlife Dev, and Ceat and the top losers were Can Fin Homes, Vakrangee, and Sterlite Techno.
The most active stocks in the Nifty index in terms of value were Power Grid, Reliance, and Bajaj Finance The most active stocks in terms of volume were Power Grid, Tata Steel, and Tata Motors
On the sectoral front, barring IT all other sectoral indices were closed lower today. The sectors that dragged the markets most were Realty, Metals, Auto, PSU Banks, and Media.
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