Market Update: Sensex, Nifty down 1% on day of monthly expiry – metal, bank stocks among biggest intraday laggards
The Indian stock markets continued to trade with a weakness for the second day in a row today after closing negatively on Wednesday.
The Indian stock markets continued to trade with a weakness for the second day in a row today after closing negatively on Wednesday. BSE Sensex was trading down by almost 700 points around 1:35 pm on the day of expiry while Nifty50 was down by 228 points around this time. The index fell below the 18,000 mark for the first time since October 12, 2021.
At around 01:18 pm, the BSE Sensex 569.6 points or 0.9 per cent to 60594.73, while Nifty50 slipped 175.95 or 0.97 per cent to 18032 intraday today. In the broader markets, Nifty mid and small-cap each down around 1 per cent intraday today, the weakness is mainly led by realty and media stocks.
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Nifty Bank one of the key indices to lift Nifty, is down around 1.5 per cent amid weakness in PSU and private sector lenders. The index is down 625.2 points or 1.53 per cent to 40249.15 intraday today.
As many 12 stocks are advancing and 38 are on a declining trend on Nifty50 intraday today. Adani Ports tumbled most by over 6 per cent, followed by ITC and Coal India each down 4.6 and 4.2 per cent intraday. Similarly, stocks such as Titan, ICICI Bank, Kotak Bank, Hindalco are each down below 2 per cent.
Besides, JSW Steel, Tata Steel, NTPC, Cipla, IOC, Power Grid, Tata Motors, Axis Bank, HDFC Bank, Sun Pharma, and Eicher Motor are each down between 1.5-2 per cent intraday today.
On the contrary, IndusInd Bank rose over 5 per cent on the back of growth in loan book during Q2, followed by L&T up over 3 per cent. Similarly, UltraTech Cement, Bajaj Finserv, Maruti, Asian Paint and Bajaj Finance are each down between 1-2 per cent intraday trade today.
Almost all sectors are trading weak today with metal, bank, pharma and financial dragging the market most intraday today. Nifty Metal down 2.6 per cent, followed by bank, pharma, FMCG and financial each down around 1.5 per cent intraday today at around 01:17 pm.
03:10 PM IST