Stock market crash today, Nifty manages to hold 16200
Indian Stock Market Crash Today, Nifty manages to hold 16200 levels– Indian stock markets opened a gap down on Friday tracking negative global cues and later extended their early losses. Markets participants continued to book profits in absence of any positive trigger and lots of uncertainties. Nifty today opened at 16283.95 levels, down by 194.15 points while Sensex made a negative opening of 560.03 points at 54760.25 levels.
News that influence the stock market crash today
Traders have taken a cautious approach ahead of Inflation numbers in the US, which are due later in the day. The numbers will decide the further course of the US Fed’s action regarding the pace of interest rate hikes. The markets sentiments were weak, as the India Ratings and Research ( Ind-Ra) in its latest report stated that the country’s current account deficit is likely to hit a three-year high of 1.8 percent or $43.81 billion in FY22, as against a surplus of 0.9 percent or $23.91 billion in FY21.
On the global front, Asian markets mostly closed in the red today following negative cues from Wall Street overnight. Shanghai closed higher today as Chinese authorities signal that a two-year crackdown on the domestic technology sector is now over.
European markets are also trading lower cautious ahead of the US inflation data. Investors are in fear about the global economy slowing down, as European Central Bank has signaled the rate hikes from next month and may go aggressive in September if required, and Fed’s decision after today’s inflation data.
Nifty and Sensex at the close today
The Nifty index declined by 276.30 points or 1.68 percent and closed at 16201.80 levels while Sensex was down by 1016.84 points or 1.84 percent and finished at 54303.44 levels. The Bank Nifty index ended lower today by 601.65 points or 1.71 percent on the spot level and ended at 34483.80
The broader markets were closed lower today. The Nifty midcap index declined by 230.10 points or 0.83 percent and closed at 27575.80 levels. The Nifty smallcap index closed lower by 99.40 points or 1.10 percent and finished at the 8955.20 level
Nifty top gainers and losers today
The top gainer in the Nifty50 index was Grasim, Apollo Hospital, Asian Paints, Dr. reddy’s Labs, and Divis Lab whereas the top losers were Kotak Mahindra, Bajaj Finance, HDFC, Hindalco, and Reliance
The top gainers in the Nifty midcap index were Deepak Nitrite, Trent, and Emami and the top losers were Godrej Prop, Indiabulls Hsg, and Adani Total Gas
The smallcap top gainers were IOL Chemical, Thyrocare Tech, and Future Retails, and the top losers were PNB Hsg Finance, Firstsource Sol, and BEML.
The most active stocks in the Nifty index in terms of value were Reliance, Bajaj Finance, and HDFC The most active stocks in terms of volume were ONGC, Hindalco, and Tata Motors
On a sectoral front, all sectoral indices closed in the red today. The sectors that dragged down the markets were Financial Services, IT, Oil & Gas, Banking, and Metals.
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