Stock Market Mayhem Today: Sensex and Nifty Take a Dive, All Sectors in Red

September 28, 2023 admin

Stock Market Today Sept 28, 2023: Indian stock market indexes pared early gains and closed lower on Thursday. The domestic equity market today opened higher following mixed global cues and turned negative after a few minutes of trading. The equity benchmarks moved southwards as the session progressed and ended sharply lower on the expiry day.

The weak global cues, rising crude oil prices, and persistent selling pressure from foreign investors have dented the market sentiments. The fresh report from RBI showed that India’s current account deficit (CAD) surged to $9.2 billion in the first quarter of 2023-24, more than seven times what it was in the previous quarter.

The CAD in the first quarter of FY2023-24 amounted to 1.1 percent of GDP.

Stock Market Indexes Today

The Nifty 50 index closed lower by 192.90 points or 0.98 percent and closed at 19523.55 levels while the Sensex was down by 610.37 points or 0.92 percent and finished at 65508.32 levels. The Bank Nifty index ended lower by 287.35 points or 0.64 percent on the spot level and closed at 44,300.95 levels.

The broader markets also closed lower along with their larger peers today, as the Nifty midcap index was down by 536.75 points or 1.32 percent and closed at 40104.05 levels. The Nifty smallcap index ended lower by 51.75 points or 0.41 percent at 12623.75 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were L&T, Power Grid, Bharti Airtel, Axis Bank, and ONGC and the top losers were TechM, Asian Paints, LTIM, Divis Lab, and Wipro

The top gainers in the Nifty midcap index were Policy Bazar, Comptron, and Tata Tele Services and the top losers were Hind. Zinc, Indian Bank, and JSW Energy.

The smallcap top gainers were MCX, IOB, and Global Health while the top losers were Angel One, Metropolies, and BirlaSoft.

The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Reliance. The most active stocks in terms of volume were Power Grid, Tata Steel, and NTPC.

On the sectoral front, all sectoral indices are closed in the red, with IT, FMCG, and Media falling the most.

Global Stock Market Today

The other Asian stock market indexes closed mixed on Thursday, as investors were concerned about the rising crude oil price and higher US 10-year Treasury yields.

Japan’s Nikkei ended sharply lower by 1.48 percent while Australia’s S&P/ASX 200 pared early gains and closed slightly lower by 0.08 percent. South Korea’s Kospi and Indonesia’s Jakarta Composite are not trading today due to a public holiday.

Shanghai trimmed some early gains and ended slightly higher by 0.10 percent while the Hang Seng index extended its early losses and ended lower by 1.37 percent as the shares of Chinese real estate firm Evergrande have been suspended for trading.

Elsewhere, Straits Times and Taiwan closed higher while the SET Composite ended in the red.

European stock market indexes are trading lower on Thursday, sectors are trading mixed, as travel and leisure stocks are trading lower while oil and gas are in positive. Investors remain concerned about Chinese property firm Evergrande, as the shares were suspended from the Hong Kong Stock Exchange earlier.

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Stock Market Prediction Next Week (25- 29 Sept 2023)

Happy Investing!!

Editorial desk