Stock Market Today: Nifty 50 & Sensex Plummet Over 1%: All Sectors in the Red
Stock Market Today, 19 March 2024: Indian stock market indexes ended with significant losses on Tuesday. The domestic markets opened lower and extended their losses as the session progressed. Selling pressure was witnessed across all sectors with Nifty IT leading the losses.
Traders remained cautious ahead of the US Federal Reserve’s meeting and the provisional data from the NSE showing that foreign institutional investors (FIIs) net sold shares worth Rs 2,051.09 crore on March 18.
The market participants overlooked the Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT). Rajesh Kumar Singh revealed that the Government of India plans to introduce a dedicated policy to foster deep-tech startups. Singh disclosed that the government is currently in the advanced stages of crafting a specialized policy framework, specifically tailored to support deep-tech startups.
Stock Market Today
The Nifty 50 index closed lower by 238.25 points or 1.08 percent and closed at 21817.45 levels while the Sensex was down by 736.38 points or 1.01 percent and finished at 72012.05 levels. The Bank Nifty index ended lower by 191.10 points or 0.41 percent on the spot level and closed at 46384.80 levels.
The broader markets also closed lower in line with their larger peers today, as the Nifty midcap index was down by 575.35 points or 1.24 percent and closed at 45926.30 levels. The Nifty smallcap index ended lower by 175.30 points or 1.19 percent at 14586.85 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Bajaj Finance, Bajaj Auto, Kotak Bank, Hindalco, and Eicher Motors, and the top losers were BPCL, TCS, Cipla, Tata Consumer, and Britannia.
The top gainers in the Nifty midcap index were Torrent Power, PayTM, and CG Power and the top losers were Indus Tower, Patanjali, and Guj Gas Ltd.
The smallcap top gainers were Trevini Turbine, MRPL, and KEI International while the top losers were Amber, Intellect Design, and SJVN.
The most active stocks in the Nifty index in terms of value were TCS, HDFC Bank, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, ITC, and Power Grid.
On the sectoral front, all sectoral indices ended in the red, with IT, Media, and Pharma falling the most
Global Stock Market Today
The other Asian stock market indexes mostly closed in the red on Tuesday, as investors remained cautious ahead of the US Federal Reserve meeting which will kick off on Tuesday. Japan’s Nikkei 225 closed higher by 0.66% after the central bank ended the 17-year-old negative interest rates policy raised its rate to 0% from -0.1%, and announced abolishing its yield curve control policy, marking a historic shift in policy.
Meanwhile, Australia’s S&P ASX 200 index closed higher by 0.36% as the Reserve Bank of Australia (RBA) kept the interest rates unchanged at 12 years high. South Korea’s Kospi index ended lower by 1.12%. Shanghai and Hang Seng also closed lower by 0.72% and 1.26% respectively. The Straits Times closed slightly higher, while Taiwan and Set Composite ended in the red.
European stock market indexes are trading mixed with little change on Tuesday as investors remain cautious ahead of the US Fed’s meeting for more clues about interest rate cuts in June.
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Editorial desk