Stock Market: Sensex Falls 160 Points, Nifty Trades Below 18,300 On Weak Cues. PSBs Lead

Stock update: M&M was the prime loser. The others were Titan, Airtel, Nestle, Maruti, NTPC, ITC, and others on the BSE

In the broader market, Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.1 per cent.

Source : Getty

Sensex and Nifty, the two key equity benchmarks, on Friday erased early gains and fell into negative zone tracking mixed global cues.

The BSE Sensex was down 159 points to 61,591, while the broader NSE Nifty was trading at 18,289, down 55 points.

On the 30-share Sensex platform, Kotak Bank was the lead gainer, followed by Axis Bank, Asian Paint, SBI, Tata Steel, and Bajaj Finance. On the flip side, M&M was the prime loser. The others were Titan, Airtel, Nestle, Maruti, NTPC, ITC, and others.

#ABPLiveStockMarketWatch | Indian equity benchmarks opened in red on Friday

At 10:00 AM, #Sensex dipped by 159 points to 61,591 & #Nifty by 55 points to 18,289

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/Ioe52HUhoa

— ABP LIVE (@abplive) November 18, 2022

In the broader markets, the weak mood was reflected as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.1 per cent.

Volatility index, India VIX, meanwhile, slipped over 2 per cent.

All sectors shifted between gains and losses. While Nifty PSU Bank, Nifty Media, Nifty Bank indices gained up to 1 per cent in trade; Nifty Auto, Nifty FMCG, and Nifty IT indices dropped up to 0.5 per cent.

Among individual stocks, shares of Nykaa gained over 3 per cent after TPG Capital offloaded shares worth Rs 1,000 crore via block deal today.

In the previous session on Thursday, the Sensex declined 230 points (0.37 per cent) to settle at 61,751. During the day, it fell 337 points (0.54 per cent) to 61,643. The broader NSE Nifty, on the other hand, dived 66 points (0.36 per cent) to end at 18,344.

Meanwhile, the rupee appreciated 10 paise to 81.54 against the US dollar in early trade on Friday as foreign fund inflows and a weak greenback in overseas markets boosted investor sentiments.

At the interbank foreign exchange, the domestic unit opened up at 81.59 against the dollar, then gained further ground to quote 81.54, registering a gain of 10 paise over its previous close.

In the previous session on Thursday, the rupee depreciated 38 paise to 81.64 against the dollar.