Stock Market Today: Nifty end below 17550, Sensex down 770 pts

 

Stock Market Today 1 Sept 2022: Indian stock market indexes opened lower on Thursday amid negative global cues. The Nifty today was opened at 17485.70 levels, down by 273.6 points while Sensex made a gap-down opening of 826.54 points at 58710.53 levels. Indian markets trimmed their early losses in the morning deal but again dragged due to losses in IT, Energy stocks.

 

Stock Market News and Updates Today

 

Other than the negative global cues, Indian market sentiments were hit as Moody’s Investors Service lowered its GDP growth forecast for India to 7.7% for the calendar year 2022. The global credit rating agency also lowered India’s GDP forecast for CY23 to 5.2% from 5.4%. Indian markets tried to recover in the morning deal but failed, as the country’s manufacturing activity grew at a slower pace. The S&P Global India Manufacturing PMI data for August came at 56.2 from 56.4 recorded in July.

 Some concern also came with the Reserve Bank data showing India Inc’s foreign direct investment in July 2022 declined by over 50% to $1.11 billion. However, the downside remained capped as some support came with the National Statistical Office (NSO) stating that the unemployment rate for people aged 15 years and above in urban areas dipped to 7.6% in April-June 2022 from 12.6% a year ago.

On the global front, the other Asian market indexes mostly closed in the red on Thursday as investors remained cautious ahead of the US monthly unemployment rate and worried about the global economic slowdown. European markets are also trading in the red following the negative cues from Asian peers and are cautious ahead of the eurozone economic data.

 

Nifty 50 and Sensex at the close today

 

The Nifty 50 index was down by 216.50 points or 1.22 percent and closed at 17542.80 levels while the Sensex declined by 770.48 points or 1.29 percent and finished at 58766.59 levels. The Bank Nifty index ended lower today by 235.50 points or 0.60 percent on the spot level and ended at 39301.25

The broader markets outperformed the frontline index today, the Nifty midcap index was up by 34.60 points or 0.11 percent and closed at 31516.30 levels. The Nifty smallcap index closed higher today by 11.80 points or 0.12 percent at 9633.75 levels.

 

Nifty top gainers and losers today

 

The top gainers in the Nifty 50 index were Tata Consumer Products, Bajaj Finserve, Asian Paints, Eicher Motors, and Hero Motocorp and the top losers were Hindalco, Reliance, ONGC, TCS, and SBI Life

The midcap top gainers were GMR Infra, Ashok Leyland, and Dhani Services and the top losers were Zee Entertain, Dr. Lal Path Labs, and Adani Total Gas.

The top gainers in the Nifty smallcap index were APL Apollo, TV18 Broadcast, and Karur Vysya and the top losers were Route, NALCO, and Spice Jet

The most active stocks in the Nifty index in terms of value were Reliance, Bajaj Finserve, and HDFC Bank. The most active stocks in terms of volume were Tata Steel, ONGC, and SBI

On the sectoral front, the Realty, PSU Bank, Auto, and Media were closed in the green today. The sectors that dragged the markets were IT, Oil & Gas, Pharma, Metals, and Financial Services

 

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Editorial desk