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Midday report: Sensex falls 481 points, Nifty down 142 points
- The Sensex was trading at 60,552.38 down by 481.17 points or 0.79%
- The Nifty was trading at 18,014.90 down by 142.10 points or 0.78%
- Asian markets were trading mostly lower on Thursday
Indian equity benchmarks were trading lower on Thursday’s afternoon session following their global peers. Traders were worried about the sharp plunge in the crypto market, which erased nearly 20% of global crypto market capitalization in the past 48 hours. Traders were eyeing the US inflation report to predict the further movement of US Federal Reserve rate hikes.
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The Sensex was trading at 60,552.38 down by 481.17 points or 0.79% after trading in a high-low range of 60,848.73 and 60,511.99. On the index, only 5 stocks were advancing and 25 were declining.
The broader indices were trading red with the BSE Midcap index down by 1.10% and the Smallcap index down by 1.03%.
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The top losing sectoral indices on the BSE were Auto down by 2.12%, Consumer Durables 1.50%, Consumer Discretionary 1.45%, Services 1.39%, and Commodities 1.20%. While there were no gaining sectoral indices on the BSE.
The top losers on the Sensex were Axis Bank down by 3.33%, Mahindra & Mahindra 3.26%, Bajaj Finserv 2.95%, Titan Company 2.49%, and IndusInd Bank 2.19%. On the flip side, Bharti Airtel up by 1.42%, Dr. Reddy’s Lab 0.68%, Hindustan Unilever 0.55%, HCL Technologies 0.51%, and HDFC Bank 0.03% were the only gainers on the index.
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The Nifty was trading at 18,014.90 down by 142.10 points or 0.78% after trading in a high-low range of 18,103.10 and 18,010.80. On the index, only 13 stocks were advancing, against 37 stocks declining.
The top losers on Nifty were Tata Motors down by 4.72%, Mahindra & Mahindra 3.34%, Axis Bank 3.22%, Bajaj Finserv 2.91%, and SBI Life Insurance 2.70%. While Hero Motocorp up by 1.28%, Bharti Airtel 1.21%, ONGC 0.87%, Dr. Reddy’s Lab 0.81, and Hindustan Unilever 0.64% were the top gainers on the index.
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Asian markets were trading mostly lower, Nikkei 225 fell 0.98%, Shanghai Composite fell 0.33%, KOSPI Composite fell 0.91%, and Hang Sang declined 1.91%.
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