Nifty, Sensex erase most of the intraday losses, end lower
Nifty and Sensex Today 10 Oct: It was a gap-down opening for the Indian stock markets on Monday in line with Asian peers. Nifty today opened at 17094.35 levels down by 220.3 points while Sensex made a gap-down opening of 767.22 points at 57424.07 levels. Indian markets traded below their neutral lines throughout the day and later erased most of their intraday losses in the last hour but end in the red today.
Stock market news and updates today
Other than the negative global cues, Indian markets remained downbeat as the private report projected a sharp moderation in India`s growth rate for FY24 to 5.2 percent as compared to FY23. The report says Indian policymakers are `misplaced` in their optimism about the country`s growth prospects. Traders were also concerned about the Reserve Bank of India`s (RBI) weekly statistical supplement showing that India`s foreign exchange reserves fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020.
However, the market participants overlooked Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal’s statement that India will perhaps emerge as the strongest major economy with a 7 percent growth rate in FY23, amid fears of the world slipping into recession.
On the global front, Asian markets were closed lower as signs of a strong U.S. labor market and rising oil prices stoked fresh worries about inflation and further rate rises. Geopolitical tensions also returned to the fore after a powerful blast damaged Russia`s road-and-rail bridge to Crimea. European markets are trading lower following their global peers, and on Russia-Ukraine war escalates.
Nifty and Sensex Today 10 Oct 2022
The Nifty 50 index was down by 73.65 points or 0.43 percent and closed at 17241 levels while the Sensex declined by 200.18 points or 0.34 percent and finished at 57991.11 levels. The Bank Nifty index ended lower today by 84.95 points or 0.22 percent on the spot level and ended at 39093.10
The broader markets also closed lower today, as the Nifty midcap index declined by 297.45 points or 0.95 percent and closed at 31109.35 levels. The Nifty smallcap index closed lower today by 44.50 points or 0.46 percent at 9641.60 levels.
Nifty 50 Stocks top gainers and losers today
The top gainers in the Nifty50 Stocks were Axis Bank, TCS, HDFC life, Maruti Suzuki, and Eicher Motors, and the top losers were Tata Motors, Tata Consumer Products, Hero Motocorp, Asian Paints, and ITC
The top gainers in the Nifty midcap index were Castrol, Mind Tree, and M&M Financials, and the top losers were Indiabulls Hsg, Varun Beverages, and Ashok Leyland
The smallcap top gainers were Rail Vikas, Ircon International, and Sun Pharma Adv while the top losers were Vakrangee, Wockhardt, and Future Retail
The most active stocks in the Nifty index in terms of value were Tata Motors, TCS, and Axis Bank The most active stocks in terms of volume were Tata Steel, Tata Motors, and Axis Bank
On the sectoral front, barring IT all other sectoral indices closed in the red today. The sectors that dragged down the markets were Consumer Durables, FMCG, Media, PSU Bank, and the Realty
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