Stock Market Today: Sensex falls 372 factors, Nifty slides under 16,000

Sensex, Nifty, Share Prices Today: The benchmark fairness indices on the BSE and NSE ended over 0.5 per cent decrease on Wednesday, weighed by market heavyweights Reliance Industries, HDFC twins and Tata Consultancy providers.

The BSE Sensex fell 372.46 factors (0.69 per cent) to finish at 53,514.15, whereas the Nifty 50 dropped 91.65 factors (0.57 per cent) to settle at 15,966.65.

Both the indices had opened greater earlier within the day however gave up their positive aspects and slipped decrease within the afternoon offers.

On the Sensex pack, IndusInd Bank, Bharti Airtel, HDFC twins – Housing Development Finance Corporation and HDFC Bank, Reliance Industries and Tata Consultancy Services had been the highest losers on Wednesday.

In distinction, Hindustan Unilever, Asian Paints, Sun Pharmaceutical Industries had been the highest gainers.

Among the sectoral indices on the NSE, Nifty Oil & Gas dropped 1.32 per cent, Nifty Private Bank fell 1.05 per cent, Nifty Financial Services misplaced 0.97 per cent and Nifty Bank inched down 0.87 per cent.

In the broader market, the S&P BSE MidCap index ended at 22,753.71, up 72.70 factors (0.32 per cent), whereas the S&P BSE SmallCap settled at 25,790.71, up 9.30 (0.04 per cent). On NSE, the volatility index or India VIX fell 0.14 to settle at 18.52.

“Strong domestic macro numbers and a fall in crude prices lifted Indian indices to open in positive territory while the gains were restrained by Europe’s negative market trend. In line with expectations, the Indian CPI numbers eased marginally to 7.01%. Global markets were in a bear grip ahead of the release of the US inflation data which is expected to touch fresh highs of 8.8% owing to surge in gasoline and food costs,” mentioned, Vinod Nair, Head of Research at Geojit Financial Services.

Global market

-input from Reuters

Stocks slipped on Wednesday and the euro lurked simply above parity towards the greenback, as merchants waited to see if US inflation information later bolsters the case for an additional supersized Federal Reserve fee hike this month.

Recession worries meant Europe stumbled out the blocks after a comparatively regular session in Asia Pacific the place South Korea and New Zealand had jacked up their charges once more.

Germany’s DAX and Italy’s FTSEMIB had been each down over 1.2% early on. London’s FTSE was not far behind, whereas the euro teetered at $1.0025 as fuel and oil costs rose once more.