Sensex Falls 365 Points On Weak Global Cues; Nifty Barely Holds 16,300

Sensex and Nifty closed lower today.

New Delhi:

Indian equity benchmarks extended their fall for the second consecutive session on Monday amid weak global cues. Aggressive policy by central banks, a city-wide Covid-19 lockdown in Shanghai and the ongoing Russo-Ukraine war dented investor sentiment.

The 30-share BSE Sensex closed 365 points or 0.67 per cent lower at 54,471, while the broader NSE Nifty ended 109 points or 0.67 per cent lower at 16,302.

Mid- and small-cap stocks remained weak as Nifty Midcap 100 fell 1.78 per cent and small-cap 2.12 per cent.

Of the 15 sector gauges compiled by the National Stock Exchange, 14 closed in the red. The sub-indices Nifty FMCG, Nifty Metal and Nifty Consumer Durables were the worst performers in the index, falling 1.47 per cent, 2.03 per cent and 1.55 per cent, respectively. However, Nifty IT closed marginally higher.

On the stock-specific front, Reliance Industries was the top laggard as the stock fell 4.30 per cent to Rs 2,508. Nestle India, Hero MotoCorp, IndusInd Bank and Tata Steel were also among the losers.

Overall, the market breadth remained negative as 1,049 shares declined, while 2,416 fell on the BSE.

RIL, IndusInd Bank, Nestle India, Tata Steel, Tech Mahindra, SBI, Hindustan Unilever, ITC and ICICI Bank were the top gainers in the 30-share BSE index.

In contrast, PowerGrid, HCL Tech, Infosys, Maruti, Bajaj Finserv, HDFC, Bajaj Finance and UltraTech Cement, TCS and Sun Pharma traded in the green.

Meanwhile, the initial share sale of Life Insurance Corporation of India (LIC) has been subscribed 2.88 times so far on the last day of bidding.

Source

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