Updates on the stock market: Sensex Drops 50 points, Nifty Drops Below 19,650, Delta Corp Cracks 10%
After being pummeled the previous week, Indian equities markets remained quiet on Monday, beginning the day flat. The S&P BSE Sensex was down 51 points or 0.08 percent, trading at 65,958 levels. Meanwhile, the Nifty50 remained maintaining the 19,666-point level.
The frontline indexes were being led by the Bajaj twins, Cipla, ONGC, JSW Steel, Asian Paints, Apollo Hospitals, Tata Motors, and Grasim, while Hero MotoCorp, Axis Bank, Infosys, L&T, HDFC Life, Bharti Airtel, TCS, and Reliance Industries were putting pressure on the market.
With increases of 0.1% and 0.2%, respectively, the BSE MidCap and SmallCap indexes were beating the indices in the larger markets.
After receiving a tax notice from the government requesting Rs 11,140 crore in taxes, interest, and penalties for the period of July 2017 to March 2022, the casino operator’s shares fell 10%.
World cues
After falling last week, Tokyo equities began higher on Monday as investors looked for bargains.The wider Topix index rose 0.25 percent, or 5.83 points, to 2,382.10 while the benchmark Nikkei 225 index up 0.35 percent, or 113.53 points, to 32,515.94 in early trading.
Wall Street fluctuated to a lower finish on Friday, concluding a turbulent week in which investors absorbed the Federal Reserve’s hawkish outlook revisions and benchmark Treasury rates touched 16-year highs.
Oil prices increased on Monday as traders concentrated on a tighter supply picture after Moscow’s temporary restriction on gasoline exports while avoiding any interest rate increases that may stifle demand.
