Share Market Today News: Indices fall for seventh straight day, Sensex slips 188 factors

Share Market Today, Sensex Nifty Share Prices, Stock Market News Updates: The topline indices on BSE and National Stock Exchange (NSE) erased their morning beneficial properties and ended round 0.3 per cent decrease on Thursday, the seventh straight session, weighed by Asian Paints and choose IT and monetary shares amid weak world cues.

The S&P BSE Sensex fell 188.32 factors (0.33 per cent) to finish at 56,409.96, whereas the Nifty 50 declined 40.50 factors (0.24 per cent) to settle at 16,818.10. Both the indices had opened 0.9 per cent greater earlier within the day and rose as a lot as 1 per cent within the early morning offers with the Sensex reaching 57,166.14 and the broader Nifty touching 17,026.05, nevertheless, they gave the beneficial properties and turned unfavorable within the afternoon offers.

On the Sensex pack, Asian Paints was the highest loser of the day, falling over 4.5 per cent. It was adopted by Tech Mahindra, Titan Company, Kotak Mahindra Bank, Bajaj Finance, Tata Consultancy Services (TCS), Wipro, Bajaj Finserv and State Bank of India (SBI). In distinction, ITC, Dr. Reddy’s Laboratories, Tata Steel, Sun Pharmaceutical Industries, Nestle India, Mahindra & Mahindra (M&M), IndusInd Bank and NTPC have been the highest gainers Thursday.

Among sectoral indices on NSE, the Nifty IT index slipped 0.92 per cent, Nifty Financial Services declined 0.51 per cent and the Bank Nifty dipped 0.30 per cent). On the opposite hand, Nifty Pharma rose 1.33 per cent, Nifty Media climbed 1.20 per cent.

In the broader market, the S&P BSE MidCap index rose 75.36 factors (0.31 per cent) to finish at 24,512.97 and the S&P BSE SmallCap surged 176.47 factors (0.63 per cent) to shut at 28,047.11. The volatility index on NSE or India VIX fell 3.58 per cent to 21.30.

Going forward, market members will be careful for the end result of the financial coverage committee (MPC) assembly of the Reserve Bank of India (RBI) on Friday. RBI Governor Shaktikanta Das will give a speech at 10 am Friday adopted by a press convention at 12 pm.

“The initial upticks of the domestic market were short-lived due to its weak global peers and declining rupee. As the yield differential between India and the US fell to a multi-year low of 348 bps, foreign investors are still departing from the Indian market. Amid the ongoing global trend of aggressive rate hikes, markets are braced for a 50 bps increase by RBI. Investors eagerly await the central bank’s intervention to aid bank liquidity, curb currency depreciation, and provide updates on its monetary stance & GDP outlook,” Vinod Nair, Head of Research at Geojit Financial Services.

Global Markets (from AP)

European shares tumbled Thursday and Asian markets have been combined after British Prime Minister Liz Truss defended a tax-cut plan that rattled traders. London’s market benchmark plunged 2.3 per cent and Frankfurt misplaced 1.9 per cent in early buying and selling. Shanghai and Hong Kong additionally declined. Tokyo and Seoul superior. The future for Wall Street’s benchmark S&P 500 index was down 1.3 per cent.

In early buying and selling, London’s FTSE 100 fell to six,846.34 and Frankfurt’s DAX declined to 11,957.72. The CAC 40 in Paris sank 1.8 per cent to five,660.81. On Wall Street, the longer term for the Dow Jones Industrial Average was off 1 per cent.

In Asia, the Shanghai Composite Index closed down 0.1 per cent to three,041.20 after spending a lot of the day in optimistic territory. The Nikkei 225 in Tokyo gained 1 per cent to 26,422.05 whereas the Hang Seng in Hong Kong misplaced 0.5 per cent to 17,165.87.

The Kospi in Seoul added lower than 0.1 per cent to 2,170.93 and Sydney’s S&P ASX 200 was 1.4 per cent greater at 6,555.00.