Sensex and Nifty, the two major equity indexes, closed in the red on Monday amid volatility, with equities in the banking and financial services sector falling precipitously in the second part of the trading session. It fell 311 points to 60,692 as the S&P BSE Sensex index. On the other hand, the Nifty50 index lost ground and ended the day at 17,845, a loss of 100 points.
The biggest losers on the 30-share Sensex platform included ICICI Bank, HDFC, Maruti, SBI, Reliance, Kotak Bank, and Axis Bank, with declines ranging from 1% to 1.4 %. On the other hand, winners included Ultratech Cement, TechM, Power Grid, Infosys, and Tata Motors.
Nifty and Sensex
As the firm said that the United States Food and Drug Administration (USFDA) issued Form 483 with 8 observations during the inspection of its Pithampur production facility, Cipla shares fell 7% to Rs 956.20 on the BSE on Monday. Despite the market’s overall decline, the S&P BSE MidCap/SmallCap indexes rose 0.12% and 0.16%, respectively.
The Nifty PSU Bank index, followed by the Nifty Bank, Financial Services, Private Bank, and Realty indices, both declined by over 1% among sectoral indices. On the other hand, the Nifty IT index increased by 0.54 percent. It fell 317 points to 61,003 the S&P BSE Sensex. The Nifty 50, on the other hand, hit a low of 17,885 before falling 92 points to 17,944.
- The biggest losers included ICICI Bank, HDFC, Maruti, SBI, Reliance, Kotak Bank, and Axis Bank.
- Winners included Ultratech Cement, TechM, Power Grid, Infosys, and Tata Motors.
- Cipla shares fell 7% to Rs 956.20 on the BSE on Monday and the Nifty IT index increased by 0.54 percent.
“Stocks are falling ahead of the release of the FOMC minutes on Wednesday. It is expected that the Fed will continue to fight inflation aggressively. It probably won’t have the terrible effects on the global stock market that were predicted.
But, because of the downturn in demand and the profits outlook brought on by consistently high-interest rates, the near-term trend would be cautious “said Vinod Nair, Geojit Financial Services’ head of research.
China, Hong Kong, South Korea, Japan, and other Asian business sectors generally completed operating at a profit. Market activity in Europe was negative. On Friday, the American markets came to a mixed conclusion.
The local unit started out at 82.69 against the dollar on the interbank foreign exchange market and ended up settling at 82.72 (provisional) against the dollar, gaining 10 paise from its previous finish of 82.82. The rupee’s worth against the dollar vacillated during the exchange meeting, arriving at highs of 82.62 and lows of 82.74.
Brent crude futures, the benchmark for all other crude oils, increased 1.05 percent to $83.87 a barrel. As per trade information, Unfamiliar Institutional Financial backers (FIIs) sold shares worth Rs 624.61 crore on Friday, making them net dealers in the capital market.
