Stock Market Today: Nifty slips below 17050, Sensex down 338 pts

March 14, 2023 admin

Sensex & Nifty 50 at close: The Indian stock market indexes extended their previous session’s losses and closed in the red on Tuesday. The weak global cues following the US mid and small-size bank crisis hit the market sentiments. Investors also remained cautious ahead of the US retail inflation data due later in the day. However, the downside remained capped as WPI inflation released today was cooler than expected.

The Nifty 50 index closed lower by 111 points or 0.65 percent and closed at 17043.30 levels while the Sensex was down by 337.66 points or 0.58 percent and finished at 57900.19 levels. The Bank Nifty index ended lower by 153.30 points or 0.39 percent on the spot level and closed at 39411.40 levels

The broader markets also closed lower today, as the Nifty midcap index was down by 157.50 points or 0.52 percent and closed at 29949.35 levels. The Nifty smallcap index closed lower by 75.35 points or 0.83 percent at 9043.15 levels.

Nifty 50 top gainers & losers

The top gainers in the Nifty 50 index were BPCL, Titan, Bharti Airtel, LT, and SBI Life and the top losers were Adani Enterprise, Adani Ports, M&M, TCS, and Bajaj Finance

The top gainers in the Nifty midcap index were Sona BLW, Zeel, and M&M Fin and the top losers were Indian Bank, Bank of India, and Linde India.

The smallcap top gainers were BCG, Aegis Chem, and BDL while the top losers were Intellect, VIP Ind, and Mazdock

The most active stocks in the Nifty index in terms of value were HDFC Bank, Kotak Bank, and Adani Enterprise The most active stocks in terms of volume were Tata Steel, Adani Ports, and HDFC Bank

On the sectoral front, barring Media, and Pharma all sectoral indices closed in the red today. The sectors that dragged down the markets were PSU Bank, IT, Metals, and Realty

Global stock market updates

On the global front, Asian markets were closed sharply lower after a volatile session on Tuesday, as Japan’s large manufacturers` sentiment posted a sharp deterioration in the first quarter. Investors were concerned with the continuous fall in Wall Street from the fallout of failed banks in the US, including Silicon Valley Bank.

Nikkei fell sharply as the shares of Softbank group tumbles above 3%, while Hang Seng and Shanghai index also closed sharply lower on Tuesday. European stock market indexes are mostly trading higher at this moment, as investors are keeping a close watch on the U.S. consumer price index for February, due to be released Tuesday

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