Sensex is down more than 150 points in early trading, Nifty Test is 18,250 points.Trident, Adani Wilmer down up to 6%

Sub Levels

Indian equity benchmarks fell in early trading on Thursday ahead of monthly futures and options (F&O) expiration. The 30-share BSE Sensex pack fell 151 points or 0.24 percent to trade at 61,624, while the broader NSE Nifty fell 28 points or 0.15 percent to trade at 18,258. Globally, most Asian stocks fell after last night’s decline in the US stock market. Falling global stocks weighed on investor sentiment as the US debt ceiling negotiations continued with no resolution in sight.

Domestically, mid- and small-cap stocks fell, with the Nifty Mid-Cap 100 down 0.10% and small-caps down 0.08%.

“A key factor weighing on the market in the near term will be the lack of resolution to the US debt ceiling impasse. They might take advantage of the slump to buy quality stocks,” said VK Vijayakumar, chief investment strategist at GeoJit Financial Services.

Foreign Institutional Investors (FII) continued to buy up, buying shares worth Rs 1.186 billion on Wednesday. The FII has bought Indian equities in 19 of the last 20 sessions since April 26.

Twelve of the 15 sector indicators compiled by the National Stock Exchange were in the red. Sub-indices Nifty IT, Nifty Metal and Nifty PSU Bank underperformed the NSE platform, down 0.48%, 0.54% and 0.74%, respectively.

By stock, Tata Motors was the top Nifty loser, with its shares trading down 1.35% to Rs 513.20. Hindalco, M&M, SBI and Wipro fell to 1.30%.

By contrast, Bajaj Auto, Britannia, ITC, Nestle India and Kotak Mahindra Bank were among the top performers.

While 1,141 shares fell in price due to the impact of BSE, 1,506 shares rose in price, resulting in a positive spread for the entire market.

In the 30-share BSE index, Trident and Gujarat Pipavav Port fell to 5.59%. Credit Access Grameen, Adani Wilmer, Mahindra CIE Automotive and Deepak Nitrate fell to 3.26%.

Meanwhile, JB Chemicals & Pharmaceuticals, KEC International, ZF Commercial Vehicle Control, Welspan India, NCC, Indus Towers, Zomato, JSW Energy and Bajaj Auto increased to 7.26%. Also, CEAT, LIC and Biocon increased by up to 2.57%.

Sensex closed yesterday at 61,774, down 208 points or 0.34%. Meanwhile, Nifty fell 63 points or 0.34% to settle at 18,285.

“In the case of Nifty Bank, some of the leading bank stocks like ICICI Bank and HDFC Bank have fallen, indicating exhaustion and pushing the index down. It will be at the 43,300 to 43,100 level,” said Parekh. .

Also read: Nykaa Strain at Rs 120 or Rs 210?Click here for the new target price

Also read: HDFC Bank Analysts Meeting: What Management Says About HDFC price, etc.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *