Closing Bell: Sensex, Nifty end lower dragged by IT Stocks
Closing Bell- Sensex and Nifty Today: It was a negative start for the Indian stock markets on Monday amid weak cues from the other Asian markets. Nifty today opened lower by 44.35 points at 17740.90 levels while Sensex made a negative opening of 114 points at 59,333.18 levels. The domestic markets soon extended early losses and traded lower throughout the day.
Stock Market News Today
Indian market sentiments were downbeat due to the selling pressure in IT and Technology shares, as investors awaited the onset of the corporate earnings season with Tata Consultancy Services (TCS), which is due later today. Also, traders were concerned about the sharp decline in the country’s foreign exchange reserves after the RBI data showed the steepest fall in weekly forex reserve by $11.173 billion to $606.475 billion due to geopolitical tension.
Adding more pessimism, the Reuter’s poll says that India’s retail inflation is likely to speed up to a 16-month high of 6.35% in March, much above the RBI’s upper band. However, traders have overlooked the decline in Brent crude futures price which was trading near $100 per barrel today.
On the global front, other Asian markets closed lower on Monday following mixed cues from the US markets on Friday. Shanghai closed by more than 2 percent as China’s factory gate and consumer prices rose at a faster speed than expected in March due to geopolitical tension. European markets are trading lower on Monday following the downbeat Asian markets, as investors mulled disappointing UK GDP data.
Sensex, Nifty indexes at the close today
At the close, the Nifty index declined 109.40 points or 0.62 percent and closed at 17674.95 levels while Sensex was down by 482.61 points or 0.81 percent and finished at 58964.57 levels. The Bank Nifty index ended lower by 138.25 points or 0.37 percent on spot and ended at 37613.80 levels.
The broader markets closed mixed today. The Nifty midcap index was up by 193.95 points or 0.62 percent and closed at 31408.15 levels. The Nifty smallcap index closed slightly lower by 6.45 points or 0.06 percent and finished at 10890.10 levels.
Top Nifty gainers and losers Today
The top gainers in the Nifty 50 index were Grasim, Adani Ports, JSW Steel, Cipla, and UPL whereas the top losers were HCL Tech, Larsen, Infosys, Wipro, and SBI Life.
The top gainers in the Nifty midcap index were Adani Total Gas, JSW Energy, and Oberoi Realty and the top losers were L&T Technology, Deepak Nitrite, and Vodafone Idea.
The smallcap top gainers were Godfrey Philip, Bharat Dynamics, and Dilip Buildcon and the top losers were GNFC, IOL Chemicals, and PNB Housing Fin.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Infy, and ITC. The most active stocks in terms of volume were ITC, NTPC, and Tata Motors
On a sectoral front, The Oil & Gas, Media, Reality, and Metal sectoral indices were closed higher today. The sectors that dragged down the markets were IT, Financial Services, Banking, and FMCG.
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Editorial desk
