Share Market Today: Sensex Slides 250 Points; Nifty Around 24250. IT Stock Gains

Share Market Today: On the 30-share Sensex platform, Nestle, HDFC Bank, Sun Pharma, NTPC, UltraCemco, Airtel emerged losers

Share market today: In the broader markets, Nifty Smallcap jumped 0.31 per cent while Midcap was trading 0.29 per cent higher.

Source : PTI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Thursday erased early gains and extended their losses tracking Asian cues. Both the benchmark indices had hit their record high levels in opening deals on Wednesday. At 10.30 am, the BSE Sensex fell 258 points to 79,667. On the other hand, the NSE Nifty50 was trading at 24,262, dropping 63 points.

Stock update

On the 30-share Sensex platform, Nestle, HDFC Bank, Sun Pharma, NTPC, UltraCemco, Airtel emerged losers. On the flip side, Tata Motors, Tata Steel, HCLTech, TCS, Asian Paints, Titan were among the gainers.

In the broader markets, Nifty Smallcap jumped 0.31 per cent while Midcap was trading 0.29 per cent higher.

Sectoral update

Sectorwise, Nifty IT led jumped 0.69 per cent higher, followed by Media, rising 0.57 per cent, while pharma and bank stocks are under pressure.

In the previous session on Wednesday, the BSE benchmark closed lower by 427 points at 79,924. The NSE Nifty, on the other hand, declined 109 points to close at 24,324.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading higher. US markets ended significantly higher on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 583.96 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.76 per cent to $85.73 a barrel.

Rupee rises 2 paise

The rupee traded in a narrow range and appreciated 2 paise to 83.49 against the US dollar in early trade on Thursday, as a positive trend in domestic equities supported the local unit, while elevated crude oil prices weighed on investor sentiments.

At the interbank foreign exchange market, the local unit opened at 83.49, registering a rise of 2 paise from its previous close.

On Wednesday, the rupee stayed range-bound and settled 2 paise lower at 83.51 against the US dollar.

"Persistent demand for the dollar from local importers has capped the rupee's potential gains, yet its outlook remains optimistic, buoyed by recent positive economic indicators," CR Forex Advisors MD-Amit Pabari said.