Today’s stock market: The Sensex is at 72,394.97, while equity benchmark indexes are flat
NEW DELHI: During early morning trading on Thursday, Indian stock exchange equity benchmark indexes opened flat on the back of a sluggish global cue. After rising 90 points, the Sensex was trading at 72,394.97, while the Nifty was at 21,945.30.
On Wednesday, there was a notable drop of almost 1% in the Sensex. The Nifty fell below the 22,000 mark as well. As global market trends remained sluggish, selling in bank and Reliance Industries equities drove this negative trend.
Sensex finished the day at 72,304.88, down 790.34 points, or 1.08%, with 26 of its equities finishing in red and four in green. At 21,951.15, the Nifty fell 247.20 points, or 1.11%, with 46 equities falling and just four registering gains.
Power Grid was the largest loss on the Sensex, plunging by 4.43% as a result of investors taking profits. Reliance Industries had a 2% decline. IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, and UltraTech Cement were among the other significant losses.
On Wednesday, companies that saw gains included Bharti Airtel, Tata Consultancy Services, Infosys, and Hindustan Unilever.
The weakening in the global markets was reflected in the Indian markets, according to Vinod Nair, Head of Research at Geojit Financial Services. Investors are waiting nervously for important US economic statistics, such personal consumption spending, and if the projections are encouraging, there may be a delay in the Federal Reserve’s rate decrease. The Asian market trend has also been impacted by the unrest in China’s real estate industry.
Following the announcement of its financing plan, Vodafone Idea saw a precipitous drop of almost 14% as market mood did not improve. The Paytm brand’s owner, One97 Communications Ltd., saw a 5% decline in its shares.
Seoul concluded the Asian market session higher while Tokyo, Shanghai, and Hong Kong saw losses. While US markets finished Tuesday mostly higher, European markets largely saw negative activity.
