Sensex and Nifty end in red, Auto dragged, Media shines

 

Sensex and Nifty Today 7 Sept 2022: India’s stock market indexes made a gap-down opening on Wednesday tracking bearish global cues. Nifty today opened at 17519.40 levels, down by 136.2 points while Sensex made a gap-down opening of 377.2 points at 58789.26 levels. The key indexes trimmed their early losses in the second half and closed marginally lower today.

 

Indian Stock Markets News and Updates Today

 

Other than the negative cues from the global markets traders were concerned as the domestic rating agency ICRA said India’s current account deficit (CAD) will widen to 5 percent of the GDP in the September quarter due to a higher merchandise trade deficit. The trade deficit has doubled to $ 28.7 billion for August due to a 36.8 percent increase in imports and a 1.2 percent decline in export earnings.

The downside was limited and markets trimmed some losses in the afternoon session as investors took some support from Moody’s investor Services’ statement that India’s economic recovery is unlikely to be derailed by rising challenges to the global economy, higher inflation, and tightening financial conditions, and affirmed a stable outlook for the country’s rating Baa3.

On the global front, all most all other Asian markets were closed in red today, following the broadly negative cues from Wall Street overnight, amid lingering concerns about the outlook for interest rate hikes and the energy crisis in Europe, and its impact on the global economy. European markets are trading in the red following the weak global cues and the latest data released in China added slowdown fears.

 

Sensex and Nifty at the close today

 

The Nifty50 index was down by 31.20 points or 0.18 percent and closed at 17624.40 levels while the Sensex declined by 168.08 points or 0.28 percent and finished at 59028.91 levels. The Bank Nifty index ended lower today by 210.60 points or 0.53 percent on the spot level and ended at 39455.90

The broader markets outperformed the front line indexes today, the Nifty midcap index was up by 159.50 points or 0.50 percent and closed at 31865.55 levels. The Nifty smallcap index closed higher today by 76.35 points or 0.78 percent at 9836.20 levels.

 

Nifty50 Stocks top gainers and losers today

 

The top gainers in the Nifty50 Stocks were Shree Cements, Ultratech Cements, Adani Ports, Coal India, and Britannia,  and the top losers were Tata Motors, Bajaj Auto, IndusInd Bank, M&M, and Maruti Suzuki.

The midcap top gainers were Container Corp, Vodafone Idea, and Dr. Lal Path Lab and the top losers were Dhani Services, City Union Bank, and Federal Bank.

The top gainers in the Nifty smallcap index were Vakrangee, Wockhardt, and Mazagaon Dock and the top losers were GMM Pfaudler, Sunteck Realty, and Mishra Dhatu Ni

The most active stocks in the Nifty index in terms of value were Bharti Airtel, Tata Motors, and Reliance The most active stocks in terms of volume were Bharti Airtel, Tata Steel, and Tata Motors

On the sectoral front, Media, Pharma, Consumer Durables, IT, and FMCG were closed in the green today. The sectors that closed in the red were Auto Banking and Financial Services.

 

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You may also like to read,        Trade Setup for Wednesday 7 Sept: Market News

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Happy Investing!!

Editorial desk