Midday report: Sensex falls 363 points, Nifty down 108 points
- Sensex is trading at 55402.58, down by 363.64 points or 0.65%
- Nifty was trading at 16,522.45, down by 108.55 points or 0.65%
- Asian markets were trading mostly in green on Tuesday
Equity benchmark indices remained in the grip of bears with the Sensex and the Nifty declining over half a percent in the late-morning session. Meanwhile, the session was also proving weak for broader indices which were trading with loss in the range of 0.70-0.80%. On the global front, Asian markets were trading mostly in green following the positive hints from the US market overnight and news of new COVID-19 cases in China dropping to the lowest level in more than a week.
The Sensex is trading at 55,402.58, down by 363.64 points or 0.65% after trading in a range of 55,295.90 and 55,834.38. On the index, 9 stocks advanced and 21 stocks declined.
Also Read | Stocks to watch on Tuesday, July 26, 2022
The broader indices were trading in red with the BSE Midcap index down by 0.79%, while the Small cap index was down by 0.70%. The top gaining sectoral indices on the BSE were Energy up by 0.04% and Utilities up by 0.04%, while IT was down by 2.32%, TECK down by 1.95%, Capital Goods down by 1.23%, FMCG down by 1.03% and Metals down by 1.00%.
Also Read | Why global economy is not in recession yet
The top gainers on the Sensex were Bajaj Finserv up by 3.63%, Ultratech Cement up by 0.89%, Bajaj Finance up by 0.69%, Reliance Industries up by 0.61%, and Mahindra & Mahindra up by 0.61%. On the other hand, Axis Bank down by 3.32%, Infosys down by 2.82%, Dr. Reddy's Lab down by 2.57%, Hindustan Unilever down by 2.08%, and Nestle down by 1.98% were the top losers.
Also Read | India on track to release CBDC says RBI official
The Nifty was trading at 16,522.45, down by 108.55 points or 0.65% after trading in a range of 16,495.55 and 16,636.10. On the index, 14 stocks advanced and 36 stocks declined.
The top gainers on Nifty were Bajaj Finserv up by 3.81%, Ultratech Cement up by 1.13%, ONGC up by 0.92%, Bajaj Finance up by 0.85%, and JSW Steel up by 0.67%. On the other hand, Axis Bank down by 3.06%, Infosys down by 2.91%, Dr. Reddy's Lab down by 2.50%, Hindustan Unilever down by 2.36% and Nestle down by 2.00% were the top losers.
Asian markets were trading mostly in green with Hang Seng rising 283.84 points or 1.45% to 20,860.22, Straits Times surged 8.58 points or 0.27% to 3,189.05, Shanghai Composite gained 21.04 points or 0.65 % to 3,271.43, KOSPI rose 8.17 points or 0.34% to 2,411.86 and Jakarta Composite soared 19.25 points or 0.28 % to 6,877.66. On the flip side, Taiwan Weighted dropped 163.55 points or 1.09% to 14,772.78, and Nikkei 225 slipped 61.86 points or 0.22% to 27,637.39.