Share Market Today: Indices fall for second straight day; Sensex falls 413 factors to finish beneath 60,000-mark

Stock Market Today, Sensex, Nifty Share Prices Updates: The topline fairness indices on the BSE and National Stock Exchange (NSE) fell for the second consecutive day, declining round 0.7 per cent on Thursday weighed by IT bellwether Infosys and oil-to-telecom behemoth Reliance Industries (RIL) amid sluggish international cues.

The S&P BSE Sensex crashed 412.96 factors (0.68 per cent) to finish beneath the 60,000-level mark at 59,934.01 and the Nifty 50 slumped 126.35 factors (0.70 per cent) to settle at 17,877.40. Both the indices had opened on a postive observe earlier within the day rising over 0.3 per cent within the preliminary offers earlier than erasing their positive aspects and turning destructive within the late morning commerce.

On the Sensex pack, Tech Mahindra, Infosys, Tata Steel, Bajaj Finserv, Axis Bank, IndusInd Bank, Ultratech Cement, Titan Company, HCL Technologies and Asian Pains had been the highest losers on Thursday. In distinction, Maruti Suzuki India, Power Grid Corporation of India, NTPC, Housing Development Finance Corporation (HDFC), Bharti Airtel and Larsen & Toubro (L&T) had been the highest gainers of the day.

Among sectors, the Nifty Media fell 2.18 per cent, Nifty IT declined 1.43 per cent, Nifty Pharma slipped 1.29 per cent and Nifty Healthcare index dipped 1.34 per cent.

In the broader market nonetheless, the S&P BSE MidCap index rose 81.89 factors (0.31 per cent) to finish at 26,307.20 and the S&P BSE SmallCap inched up 19.14 factors (0.06 per cent) to settle at 29,911.51.

“Fears of a recession in the global economy exacerbated selling pressure in IT and pharma stocks. Mid & small caps are expected to continue its trend in the short to medium term as they are trading reasonably well compared to large caps and at a discount to their historic valuation. Globally, in light of the elevated inflation in the US, investors are on an edge, assessing the possibility of a higher magnitude of a rate hike in the next Fed policy meeting,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.

Global Market (from Reuters)

Stock markets had been sluggish and the greenback and bond yields shuffled increased on Thursday because the probability of an additional soar in international borrowing prices, together with a attainable 100 foundation level US price hike subsequent week, stored the bears on the prowl.

Europe’s primary bourses made a optimistic begin after two days within the pink, however the Japanese yen – pummelled to a 24-year low this month – drooped once more as Tokyo posted a report commerce deficit in a single day.

Among the primary inventory markets, MSCI’s broadest index of Asia-Pacific shares exterior Japan turned throughout the session to complete down 0.2 per cent. The Nikkei rose 0.2 per cent although, whereas the primary Hong Kong property index surged over 4 per cent after reviews that some Chinese builders had been lastly being allowed to slash costs.

S&P 500 futures, Dow and Nasdaq futures had been all broadly flat, pointing to a gradual day on Wall Street later.