Stock Market Today, Sensex, Nifty Share Prices Updates: The benchmark fairness indices – Sensex and Nifty – fell for the third consecutive day, ending over 1.7 per cent on Friday weighed by a selloff throughout all sectors led by banking and financials amid weak spot within the world market.
The S&P BSE Sensex fell 1,020.80 factors (1.73 per cent) to finish at 58,098.92 and the Nifty 50 settled at 17,327.35, down 302.45 factors (1.72 per cent). Both the indices had opened round 0.2 per cent decrease ealier within the day however quickly declined because the commerce progressed with the Sensex hitting an intraday low of 57,981.95 and the broader Nifty touching 17,291.65.
On the Sensex pack, Power Grid Corporation of India was the highest loser on Friday crashing almost 8 per cent. It was adopted by Mahindra & Mahindra (M&M), State Bank of India (SBI), NTPC, Bajaj twins – Bajaj Finserv and Bajaj Finance, HDFC twins – HDFC Bank and Housing Development Finance Corporation (HDFC), IndusInd Bank, Axis Bank, Titan Company and ICICI Bank. In distinction, Sun Pharmaceutical Industries, Tata Steel and ITC ended within the inexperienced.
All the sectoral indices on NSE led to a sea of crimson on Friday. The Bank Nifty crashed 2.67 per cent, Nifty Financial Services declined 2.48 per cent, Nifty Realty skid 2.96 per cent and Nifty Media tumbled 3.44 per cent.
In the broader market, the S&P BSE MidCap index fell 588.47 factors (2.28 per cent) to finish at 25,271.41 whereas the S&P BSE SmallCap slumped 564.59 factors (1.92 per cent) to settle at 28,812.76. On NSE, the volatility index or India VIX surged 9.44 per cent to twenty.59.
“A rise in the US 10-year bond yield and a strong dollar index influenced FIIs to flee emerging markets. A fall in liquidity in the banking system, a weak currency and a current premium valuation have set the market outlook bearish for the near term. With aggressive monetary policy action by central banks, the global growth engines are in a slowdown mode, whereas India is currently in a better position with a pickup in credit growth and an uptick in tax collection. The current volatility might persist for a while. Investors are advised to wait and watch until the dust settles,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
Global Market (from Reuters)
Stocks hit two-year lows on Friday and bonds confronted an eighth weekly loss, as traders digested the prospect of a much more aggressive rise in US rates of interest, whereas forex markets remained unstable after Japan’s intervention to prop up the yen. Interest charges rose sharply this week within the United States, Britain, Sweden, Switzerland and Norway – amongst different locations – but it surely was Federal Reserve’s sign that it expects excessive US charges to final by way of 2023 that set off the newest sell-off.
MSCI’s world shares index fell to its lowest since mid-2020 on Friday, having misplaced about 12 per cent within the month or so since Fed Chair Jerome Powell made clear that bringing down inflation would damage.
European shares have been a sea of crimson for a second day, underneath stress from losses in every little thing from financial institution shares to pure assets and know-how shares. The pan-regional STOXX 600 was down about 0.5 per cent in early commerce, whereas Frankfurt’s DAX misplaced 0.6 per cent, rating it as certainly one of Europe’s worst-performing indices. London’s FTSE misplaced 0.1 per cent, in opposition to a backdrop of the pound tumbling to a different 37-year low.