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Stock Market Today 2022: Indices erase intraday losses, end with marginal gains; Sensex rises 38 pts

Market Today - Share Market, Stock Market Today, August 18, 2022: The S&P BSE Sensex rose 37.87 points (0.06 per cent) to end at 17,956.50 while the Nifty 50 inched 12.25 points (0.07 per cent) higher to settle at 17,956.50.

Sensex  | Nifty | Share Market  | Stock Market  | Market TodayMarket Today, Sensex Today, Nifty Today: Staffs working at a Kolkata-based stock broking firm. (Express photo by Partha Paul)

Market Today, Sensex Today, Nifty Today: The topline equity indices on the BSE and National Stock Exchange (NSE) erased their intraday losses and ended with marginal gains on Thursday.

The S&P BSE Sensex rose 37.87 points (0.06 per cent) to end at 17,956.50 while the Nifty 50 inched 12.25 points (0.07 per cent) higher to settle at 17,956.50. Both the indices had opened around 0.25 per cent lower earlier in the day and traded lower for the most part of the session, slipping as much as 0.5 per cent in the intraday trade with the BSE benchmark hitting a low of 59,946.44 and the broader Nifty touching 17,852.05.

On the Sensex pack, Kotak Mahindra Bank, Larsen & Toubro (L&T), Bharti Airtel, Ultratech Cement, Power Grid Corporation of India, IndusInd Bank, State Bank of India (SBI), ITC and Asian Paints were the top gainers on Thursday. In contast, Dr. Reddy’s Laboratories, Wipro, Infosys, Mahindra & Mahindra (M&M), Axis Bank, Tata Consultancy Services (TCS), Nestle India, HCL Technologies and Titan Company were the top laggards.

Among the sectoral indices on NSE, the Nifty Realty index climbed 1.55 per cent, Nifty Metal rose 0.92 per cent and Nifty FMCG inched up 0.57 per cent. On the other hand, Nifty IT fell 0.79 per cent and Nifty Oil & Gas slipped 0.65 per cent.

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In the broader market, the S&P BSE MidCap ended at 25,286.51, up 104.51 points (0.42 per cent) while the S&P BSE SmallCap settled at 28,438.57, up 95.57 points (0.34 per cent).

“Following the release of the Fed minutes, domestic equities experienced profit booking amid weak sentiment from global peers. The minutes showed that even while decision-makers were concerned about the impact of aggressive actions, they were in favour of raising rates further. In the domestic market, IT and pharma were the major laggards, responding to the fall in the US stocks, while financials maintained their support,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global Markets (from Reuters)

European stocks dropped on Thursday, tracking falls on Wall Street after Federal Reserve officials said in policy meeting minutes that inflation pressures were not easing and a European Central Bank official warned the outlook had not improved.

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By 0835 GMT, the Euro STOXX was down 0.13 per cent, while Wall Street futures pointed to a weaker open after the main indexes closed lower. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.5 per cent.

Stocks have staged a strong rebound in the past two months on hopes a peak in the pace of monetary tightening is within sight, but they remain vulnerable to central banker warnings that the fight against price pressures is far from over.

Federal Reserve officials saw “little evidence” late last month that US inflation pressures were easing, according to the minutes of their July 26-27 policy meeting released on Wednesday.

First published on: 18-08-2022 at 09:33:48 am
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