Stock Market Today: Sensex Sinks Over 200 Points; Nifty Around 20K. Tata Tech Lists At 140 Per Cent

Stock update: On the 30-share Sensex platform, Asian Paints, HDFC Bank, Tata Steel, NTPC, IndusInd Bank, ICICI Bank emerged losers

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.13 per cent and 0.34 per cent, respectively.

The two key equity benchmarks, Sensex and Nifty, on Thursday began with modest gains tracking mixed global sentiment. The domestic indices, however, turned flat and sharply declined after a positive start. At 10 am, the BSE Sensex dropped 207 points to 66,694. On the other hand, the NSE Nifty50 was trading at 20,048, down 48 points.

On the 30-share Sensex platform, Asian Paints, HDFC Bank, Tata Steel, NTPC, IndusInd Bank, ICICI Bank emerged losers. On the flip side, UltraCemco, M&M, Axis Bank, Sun Pharma, HUL, Wipro were among gainers. A total of 1,548 shares advanced, 502 declined, while 143 shares remain unchanged.

#ABPStockMarketWatch | Sensex and Nifty declined sharply after a positive start, on Thursday

At 10:30 PM, #Sensex tanked 132 points to 66,770 & #Nifty fell 50 points to 20,047

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/VvYEZ9QTlk

— ABP LIVE (@abplive) November 30, 2023

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.13 per cent and 0.34 per cent, respectively.

Sectorally, the Nifty Bank, Auto, Financial Services, FMCG, Pharma, and Private Bank indices gained 0.2 per cent each, while Nifty IT fell 0.23 per cent.

Among new listing, shares of Tata Technologies made an impressive debut on the bourses today, listing at 140 per cent premium to the IPO price. The stock started trading at Rs 1,200 on the NSE and at Rs 1,199.95 on the BSE, while its issue price was Rs 500. Gandhar Oil Refinery and Fedbank Financial Services will also debut today.

In the previous session on Wednesday, the S&P BSE Sensex surged 728 points to close at 66,902, the NSE Nifty50 closed above the 20,000-mark for the first time after more than two months at 20,097, up 207 points.

Overnight weakness in the US markets and subsequent fall in Asian indices could limit the gains, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said in his pre-opening market comment. "As traders square off their positions on the monthly expiry day today, intra-day volatility could be seen," he said.

In Asian markets, Shanghai and Hong Kong traded with gains, while Seoul and Tokyo quoted in the negative territory. The US markets ended mostly lower on Wednesday.

Global oil benchmark Brent crude declined 0.18 per cent to $82.95 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 71.91 crore on Wednesday, according to exchange data.

The rupee maintained its gaining momentum for the third straight day and appreciated by 2 paise to 83.30 against the US dollar in early trade on Thursday, tracking positive cues from equity markets and sustained foreign fund inflow. Forex traders said, crude oil prices hovering above $82 per barrel ahead of the crucial meeting of oil producing countries OPEC+ however capped the sharp gain in the Indian currency.

At the interbank foreign exchange, the rupee opened at 83.31 against the dollar and traded in the range of 83.29 to 83.32. It later traded at 83.30 against the greenback, registering a gain of 2 paise over its previous close.