Stock Market: Sensex Down 200 Points, Nifty Below 19,650 Amid Volatility. ICICI Bank Slips 1 Per Cent

Stock Market Update Today: On the 30-share Sensex platform, Axis Bank, Bajaj Finserv, TCS, Tata Motors, HDFC Bank, ICICI Bank emerged prime losers

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 0.2 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Friday began trade in the red, tracking subdued global sentiments amid volatility. At 10.12 am, the BSE Sensex was down by 196 points to 66,070. On the other hand, the NSE Nifty was trading at 19,619, down 40 points.

On the 30-share Sensex platform, Axis Bank, Bajaj Finserv, TCS, Tata Motors, HDFC Bank, ICICI Bank emerged losers. On the flip side, ITC, PowerGrid, M&M, Reliance, Sun Pharma, Asian Paints were among the gainers.      

#ABPLiveStockMarketWatch | Sensex and Nifty on Friday began trade in the red, amid subdued global sentiments
At 09:42 AM, #Sensex fell by 89 points to 66,178 & #Nifty by 14 points to 19,656

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/8a8xwWeTv9

— ABP LIVE (@abplive) July 28, 2023

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 0.2 per cent.

Sectorally, Nifty FMCG and Nifty Media indices gained up to 0.2 per cent, whereas Nifty Pharma, Nifty Bank, and Nifty Oil and Gas fell up to 0.4 per cent.

Among stocks, Ajanta Pharma’s shares surged 7 per cent after net profit rose 19 per cent year-on-year (YoY) in the June quarter (Q1FY24). Bharat Electronics jumped 2 per cent on 23 per cent YoY rise in Q1 net profit to Rs 531 crore.

In the previous session on Thursday, the Sensex slipped 440 points or 0.66 per cent at 66,267, and the Nifty was down 118 points or 0.60 per cent at 19,660.

Meanwhile, the rupee plunged 31 paise to 82.23 against the US dollar in early trade on Friday amid massive outflow of foreign funds and subdued equity markets. Elevated level of crude prices nearing USD 84 a barrel also weighed on the domestic unit even as the American currency gained strength on the back of better-than-expected GDP numbers from the US, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 82.30, then touched a high of 82.19 against the American currency. It later traded at 82.23, registering a fall of 31 paise over its previous close. On Thursday, the rupee had settled at 81.92 against the dollar.

In Asian markets, Seoul, Shanghai and Hong Kong were trading in the green while Tokyo quoted lower. The US markets had ended in the negative territory on Thursday.

Global oil benchmark Brent crude was trading 0.40 per cent lower at $83.90 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,979.44 crore on Thursday, according to exchange data.