Stock Market Today: Sensex Down 140 Points; Nifty Around 21,850. Reliance Rises 1 Per Cent
Stock update: On the 30-share Sensex platform, PowerGrid, Axis Bank, HUL, TechM, Infosys, Sun Pharma emerged losers. Reliance, M&M, Maruti, Nestle, Wipro, Titan were among the gainers
The two key equity benchmarks, Sensex and Nifty, on Thursday are trading in the red amid volatility before Q3 GDP numbers scheduled to announce in the evening. At 10.20 am, the S&P BSE Sensex was down 139 points to 72,165. On the other hand, the NSE Nifty50 was trading at 21,882, down 69 points.
On the 30-share Sensex platform, PowerGrid, Axis Bank, HUL, TechM, Infosys, Sun Pharma emerged losers. On the flip side, Reliance, M&M, Maruti, Nestle, Wipro, Titan were among the gainers. Among specific stocks, RIL was up over 1 per cent following the deal with Viacom18 Media and The Walt Disney to create a $8.5 billion media giant in India.
In the broader market, the BSE Midcap and Smallcap indices recouped intra-day losses up to 1 per cent.
In the previous session on Wednesday, the S&P BSE Sensex ended 790 points to settle at 72,304, while the NSE Nifty closed at 21,951, down 247 points.
"The current market scenario has become increasingly unpredictable with a surge in volatility," said V K Vijayakumar, chief investment strategist at Geojit Financial Services. "This volatility is expected to persist today, especially as it marks the end of the monthly expiry."
Across Asian markets, Seoul, Tokyo, and Hong Kong experienced declines, contrasting with Shanghai's positive performance. In the United States, markets closed marginally lower on Wednesday.
Exchange data revealed that Foreign Institutional Investors (FIIs) sold equities worth Rs 1,879.23 crore on Wednesday.
Brent crude, the global oil benchmark, saw a slight decrease of 0.17 per cent to $83.54 per barrel.
On the currency front, the rupee strengthened by 2 paise to 82.89 against the US dollar in early Thursday trading, influenced by a weaker American currency and falling crude oil prices. Nonetheless, the domestic currency faced pressure from volatile equity markets and continuous outflows of foreign funds, as noted by forex traders.
Market participants awaited the release of domestic GDP data later in the day.
In interbank foreign exchange, the rupee commenced trading at 82.88 before edging up to 82.89 against the greenback, marking a 2-paise gain from its previous close. On Wednesday, the rupee concluded at 82.91 against the US dollar, down by 2 paise.
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