Sensex, Nifty end lower as Realty, Metal drag, Banks gain
Sensex & Nifty Today: Indian stock markets opened lower on Tuesday tracking negative cues from the global markets. Nifty today opened at 17584.85, down by 126.1 points while Sensex made a gap down opening of 221.07 points at 58743.50 levels. Indian markets. Indian markets fell sharply in the morning deal and extended their early losses today.
Stock Market News Today
The key indices continue to remain under pressure in the noon trade and were trading below their crucial 17500 ( Nifty) and 58600 (Sensex) levels on the back of weakness in global markets. The sentiments were negative due to the surge in crude oil prices after yesterday’s fall, Brent crude is trading above $101 per barrel.
The market sentiments were subdued as the research wing of the rating agency Crisil in its latest report stated that companies are not able to pass on the pressure from the rising input costs to buyers, and this is likely to result in compression in corporate profit minings for the March quarter (Q$FY22).
It further said that the operating profit margins for companies are set to fall by as much as 3 percentage points compared to the previous year period, and up to 0.60 percent as compared to the preceding December quarter.
On the global front, the other Asian markets were closed mostly lower ahead of the US inflation data which could indicate even more aggressive interest rate hikes from the US Fed. European markets are trading in the red on Tuesday tracking negative cues from the US and Asian markets on fears of rising inflation and a slow down in the Chinese economy due to the Covid-19 lockdown and restrictions.
Sensex, Nifty indexes at the close today
At the close, the Nifty index declined 144.65 points or 0.82 percent and closed at 17530.30 levels while Sensex was down by 388.20 points or 0.66 percent and finished at 58576.37 levels. The Bank Nifty index ended higher today by 133.60 points or 0.36 percent on spot and ended at 37747.40 levels.
The broader markets were underperformed today as compared to benchmark indexes. The Nifty midcap index declined by 603.25 points or 1.92 percent and closed at 30804.90 levels. The Nifty smallcap index closed lower by 172.60 points or 1.58 percent and finished at 10717.50 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Axis Bank, Kotak Mahindra, Power Grid, Maruti Suzuki, and SBI life whereas the top losers were Hindalco, Coal India, Grasim, Tata Motors, and Tata Steel.
The top gainers in the Nifty midcap index were Varun Beverages, PI Industries, and M&M Financials and the top losers were Sanofi India, Adani Total Gas, and JSW Energy.
The smallcap top gainers were Just Dial, Mazgaon Dock, and Cochin Shipyard, and the top losers were Birlasoft, IOL Chemicals, and PNB Housing.
The most active stocks in the Nifty index in terms of value were HDFC Bank, TCS, and Reliance. The most active stocks in terms of volume were ITC, Tata Motors, and Coal India.
On a sectoral front, barring banking and financial indexes all other sectoral indices were closed in the red today. The sectors that dragged down the markets were Realty, Metal, Oil & Gas, IT, and
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