Share Market Today: Sensex Slips 150 Points; Nifty Tests 23,450 On Mixed Global Cues. PSU Banks Drag

Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday opened lower, tracking mixed global trends. At 10.15 am, the BSE Sensex dropped 159 points to 77,051. On the other hand, the NSE Nifty50 was trading at 23,449, down 52 points.

Stock update

On the 30-share Sensex platform, IndusInd Bank, Tata Steel, Adani Ports, Bajaj Finance, SBI, HCLTech emerged lower. On the flip side, M&M, Sun Pharma, PowerGrid, Nestle, TCS, and ITC were among the gainers.

In the broader markets, Nifty Smallcap declined 0.32 per cent, while Midcap fell 0.47 per cent.

Sectoral update

Sectorwise, except capital goods, FMCG, and power, all other indices are trading in the red. PSU Bank fell the most, down 1.19 per cent.

In the previous session on Friday, the BSE Sensex ended 269 points lower at 77,210 while NSE Nifty50 declined 66 points to 23,501.

Global update

In Asian markets, Seoul, Shanghai and Hong Kong were trading lower while Tokyo quoted in the positive territory.  US markets ended mostly lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,790.19 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.07 per cent to $85.18 a barrel.

Rupee saw range-bound trading

Meanwhile, the rupee saw range-bound trading against the US dollar in early trade on Monday, amid a negative trend in the domestic equity market. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices also weighed on the local unit and restricted the upmove.

At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to trade at 83.45 against the greenback in initial deals, registering an increase of 12 paise from its previous closing level.

On Friday, the rupee hit the lowest level of 83.63 but finally settled at 83.57 against the dollar, registering a gain of 4 paise from its previous close.

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