Sensex ends below 60K, Nifty index down 133 pts today
Sensex ends below 60K, Nifty index down 133 pts today
Sensex and Nifty Index Today 18 Nov 2021: Indian stock markets opened almost flat on Thursday amid weakness in the global markets. The Nifty and Sensex were opened lower by only 8.1 and 39.63 points respectively. The benchmark indices fell sharply after a few minutes of trading and traded below their neutral lines throughout the day. The negative cues from other Asian markets also impacted the domestic market sentiments.
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Traders got worried, as a private report said that even though the overall outlook for corporates have improved on the back of faster than expected recovery, and the same is likely to gain further traction in H2, the rising commodity prices and logistics cost headwinds to their profitability.
Meanwhile, Economic Advisory Council to the PM (ECA-PM) Chairman Bibek Debroy has said that India is on a path towards a higher growth trajectory higher poverty reduction, higher employment, and a prosperous. According to him, the country’s GDP is likely to grow at around 10 percent in 2021-22. He further added that the high-frequency indicators, including GST revenue, e-way bill, power consumptions, corporate profitability, etc are pointing towards 10% GDP in the current financial year.
Stock market at close
At the close, Nifty was down by 133.85 points or 0.75 percent and closed at 17764.80 levels. The Sensex declined by 372.32 points or 0.62 percent and finished at 59636 levels. The Bank Nifty spot price fell by 65.30 points or 0.17 percent and ended at 37976.25 levels.
The broader markets underperformed compared to the benchmark indices today. The Nifty midcap index was down by 457.60 points or 1.44 percent and closed at 31271.40 levels. The Nifty smallcap index fell by 182.50 points or 1.63 percent and finished at 11036.90 levels.
The top five gainers in the Nifty index were SBI, Power Grid, HDFC Bank, IOC, Divis Lab. The losers were Tata Motors, M&M, TechM, HCL Tech, and LT. The top gainers in the Nifty midcap index were Escorts, Dhani Services, and Varun Beverages and the losers were Tata Power, JSW Energy, and Coforge Ltd. The top gainers in the Nifty smallcap index were Tanla Platforms, Trident, and IRB Infra and the losers were GNFC, Graphite India, and Just Dial.
The most active stocks in the Nifty index in terms of value were Tata Motors, ICICI Bank, and Tata Steel. The most active stocks in the Nifty index in terms of volume were Tata Motors, SBI, and ITC
On the sectoral front, barring Nifty PSU Bank all other sectors closed in the red today. The sectors that dragged down the markets were Auto, Metals, Media, IT, and Realty.
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