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Benchmark Indian equity indices, BSE Sensex and Nifty 50, started Thursday’s trading session on a weak note.
Stock Market Updates
Benchmark Indian equity indices, BSE Sensex and Nifty 50, were trading lower on Thursday.
At 2 PM, the BSE Sensex stood at 81,287.78, down by 238.36 points or 0.29%, while the Nifty 50 was at 24,551.95, falling by 89.85 points or 0.36%.
Around 1:40 PM, over half of the 30 stocks on the BSE Sensex were in the red, with NTPC leading the losses, down 2.61%. Other notable decliners included Hindustan Unilever, Larsen & Toubro, Tata Motors, and Maruti Suzuki India. On the positive side, Adani Ports & SEZ was up by 2.21%, followed by IndusInd Bank, Tech Mahindra, Infosys, and Bharti Airtel.
On the Nifty 50, around 34 stocks were in the negative, with NTPC and Hindustan Unilever both falling 2.41%. Other major losers included Hero MotoCorp, Tata Consumer Products, and Larsen & Toubro.
Among sectoral indices, the IT and Metal sectors were the only gainers, rising 1.05% and 0.36%, respectively. The Media index was the biggest laggard, dropping 1.84%. Other major drags included the FMCG index, down 0.95%, Auto (down 0.80%), PSU Bank (down 0.69%), and Oil & Gas (down 0.62%).
Broader market indices also traded lower, with the Nifty Smallcap 100 down by 0.89%, and the Nifty Midcap 100 falling by 0.40%.
Global Cues
In the Asia-Pacific region, most markets traded higher on Wednesday, following overnight gains on Wall Street. Japan’s Nikkei 225 surged 1.55%, and the Topix rose 1.17%. However, Australia’s S&P/ASX 200 edged down by 0.09%.
South Korea’s Kospi gained 0.64%, while the small-cap Kosdaq was up by 0.90%.
In China, the CSI 300 rose by 0.14%, while the Shanghai Composite dipped 0.07%. Hong Kong’s Hang Seng index saw a slight increase of 0.12%.
Global markets, including Wall Street, saw a rise on Wednesday after a favorable inflation report fueled expectations of an interest rate cut by the Federal Reserve later this month.
The U.S. dollar reached a two-week high, and gold prices increased. Oil prices climbed by over $1 after the European Union agreed to impose further sanctions on Russian oil.
European stocks recovered earlier losses to end higher, while U.S. Treasury yields rose following the sale of long-term debt and data revealing a widening U.S. budget deficit.
In the U.S. stock market, the Dow Jones Industrial Average dropped by 99.27 points, or 0.22%, to 44,148.56. Meanwhile, the S&P 500 rose by 49.28 points, or 0.82%, to 6,084.19, and the Nasdaq Composite surged by 347.65 points, or 1.77%, to 20,034.89.
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