(Source: Poll of Polls)
Stock Market: Sensex Sheds 242 Points; Nifty Trades Below 19,500 Ahead Of CPI Data. Eicher Rises 2 Per Cent
Stock update: On the 30-share Sensex platform, Bajaj Finance, Nestle, ICICI Bank, HUL, Asian Paints, Kotak Bank emerged early losers
The two key equity benchmarks, Sensex and Nifty, on Monday opened lower as investor turned cautious to the October retail inflation data slated for release after market hours. At 9.58 am, the BSE Sensex declined 242 points to 65,018. On the other hand, the NSE Nifty50 was trading at 19,462, down 64 points.
On the 30-share Sensex platform, Bajaj Finance, Nestle, ICICI Bank, HUL, Asian Paints, Kotak Bank emerged early losers. On the flip side, NTPC, PowerGrid, IndusInd Bank, JSW Steel, Sun Pharma, M&M were among gainers. Among specific stocks, Eicher Motors advanced 2.5 per cent. The stock was the top Nifty performer after it posted a 55 per cent jump in its Q2 profit to Rs 1,016 crore, beating estimates on Friday.
#ABPStockMarketWatch | Sensex and Nifty opened lower as investor turned cautious ahead of CPI inflation data, on Monday
— ABP LIVE (@abplive) November 13, 2023
At 10:00 AM, #Sensex dipped by 192 points to 65,068 & #Nifty by 48 points to 19,477
Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/bgvx8lryml
In the broader markets, the BSE Midcap and Smallcap indices dropped 0.44 per cent.
Sectorally, all the indices were trading in the red. However, Nifty Pharma logged gains and was up 0.11 per cent.
In the previous session on Diwali Muhurat Trading, Tthe BSE Sensex closed 355 points up at 65,259.45 during the first trading session of Samvat 2080. The Nifty stood at 19,525.55, up by about 100 points in the session.
In Asian markets, Seoul, Shanghai, and Hong Kong were trading in the red, while Tokyo quoted in the green. The US markets ended with significant gains on Friday.
Global oil benchmark Brent crude declined 0.88 per cent to $80.71 a barrel.
Stock exchanges conducted a one-hour special Muhurat trading session on the occasion of Diwali on November 12.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 190.06 crore on Sunday, according to exchange data.
Meanwhile, India rupee fell 4 paise to 83.32 against the US dollar in the morning session on Monday, tracking a negative trend in domestic equities. Persistent foreign fund outflows also weighed on the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 83.31 against the dollar. It touched a low of 83.32 in initial deals, registering a fall of 4 paise over its previous close. On Friday, the rupee settled at 83.28 against the American currency.
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