Stock Market: Sensex Down 200 Points, Nifty Below 19,300 On Weak Global Cues. IT, Metals Top Drags
Stock update today: On the 30-share Sensex platform, TCS, Wipro, TechM, HCL, PowerGrid, Bajaj Finance, Infosys emerged losers. L&T, Axis Bank, Tata Motors, Maruti, ICICI Bank, HUL were the gainers
The two key equity benchmarks, Sensex and Nifty, on Friday opened lower tracking negative global trends on renewed apprehensions of more rate hikes. At 9.40 am, the BSE Sensex slumped 213 points to 64,937. On the other hand, the NSE Nifty50 was trading at 19,297, down 68 points.
On the 30-share Sensex platform, TCS, Wipro, TechM, HCL, PowerGrid, Bajaj Finance, Infosys emerged losers. On the flip side, L&T, Axis Bank, Tata Motors, Maruti, ICICI Bank, HUL were the gainers. Among specific stocks, Yatharth Hospital, which was listed recently, sored 8 per cent on posting a 73 per cent on-year jump in net profit to Rs 19 crore for the June quarter.
#ABPLiveStockMarketWatch | Sensex and Nifty opened lower tracking negative global trends, on Friday
— ABP LIVE (@abplive) August 18, 2023
At 09:50 AM, #Sensex fell by 270 points to 64,881 & #Nifty by 77 points to 19,288
Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/z3X8VGvMJ9
In the broader markets, the BSE Midcap and Smallcap indices rose up to 0.3 per cent.
Sectorally, information technology, oil & gas, metals, and realty indices were trading down 0.5 per cent each, in early trade.
In the previous session on Thursday, the BSE Sensex plunged 388 points to end at 65,151, while the NSE Nifty50 closed at 19,365, down 100 points.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the negative territory. The US markets ended lower on Thursday.
Global oil benchmark Brent crude climbed 0.13 per cent to $84.23 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,510.86 crore on Thursday after a day's breather, according to exchange data.
Meanwhile, the rupee recovered from its all-time low levels and appreciated by 7 paise to 83.02 against the US dollar in early trade on Friday as the American currency retracted from its elevated levels. However, a muted trend in domestic equities, foreign fund outflows and rising crude oil prices weighed on the domestic unit, forex traders said.
At the interbank foreign exchange, the domestic unit opened at 83.03, then touched a high of 83.02 against the American currency, registering a rise of 7 paise over its last close. In initial trade the rupee also touched a low of 83.09 against the American currency. On Thursday, the rupee settled for the day lower by 1 paisa at a fresh all-time low of 83.09 against the US dollar.
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