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Share Market Today: Benchmark indices snap 8-day gaining streak; Sensex and Nifty dip over 0.6% on profit booking, weak global cues

Stock Market Today, Sensex, Nifty Share Prices, December 2: The S&P BSE Sensex fell 415.69 points (0.66 per cent) to end at 62.868.50 while the Nifty 50 declined 116.40 points (0.62 per cent) to settle at 18,696.10.

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

Sensex, Nifty Share Prices Today: The frontline indices on the BSE and National Stock Exchange (NSE) snapped out of an eight-session record gaining streak and ended over 0.6 per cent lower on Friday amid weakness in the global market as investors booked profits ahead of the outcome of US payrolls data, which could provide more cues US Federal Reserve’s future rate-hike plans.

The S&P BSE Sensex fell 415.69 points (0.66 per cent) to end at 62.868.50 while the Nifty 50 declined 116.40 points (0.62 per cent) to settle at 18,696.10. Both the indices had opened lower and traded in the red throughout the session with the Sensex hitting an intraday low of 62,679.63 and the broader Nifty dipping to 18,639.20.

Among the Sensex constituents, Mahindra & Mahindra (M&M), Hindustan Unilever (HUL), Maruti Suzuki India, Nestle India, Housing Development Finance Corporation (HDFC), Asian Paints, Infosys, Bajaj Finance, Power Grid Corporation of India, Sun Pharmaceutical Industries, Tata Consultancy Services (TCS) and ICICI Bank were the top losers on Friday. In comparison, Tata Steel, Dr. Reddy’s Laboratories, Tech Mahindra, IndusInd Bank, HCL Technologies and Bharti Airtel were the top gainers.

Among sectoral indices, the Nifty Auto index was the worst performer on Friday slipping 1.10 per cent. Apart from this, the Nifty Financial Services index fell 0.62 per cent, Nifty FMCG declined 0.48 per cent and the Bank NIfty dipped 0.36 per cent.

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However, in the broader market, the mic-cap and small-cap indices outperformed their benchmark peers. The S&P BSE MidCap index gained 209.65 points (0.80 per cent) to end at 26,321.65 while the S&P BSE SmallCap rose 206.88 points (0.70 per cent) to close at 29,911.79.

“The rally in the domestic market was halted by negative cues from global counterparts and broad-based profit booking in large caps. The correction in the market was led by auto stocks as the sales data came in lower than expected due to weaker exports and sequential de-stocking. Declining manufacturing activity in the US is proof that the central bank’s policy tightening has started to show results, which in turn will encourage the Fed to keep rate hikes at bay,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global Markets (from AP)

Shares retreated in Europe and Asia on Friday ahead of the release of US jobs data. Optimism over moves by China to ease strict pandemic controls appeared to have faded, replaced by worries over indications recession may be looming.

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Germany’s DAX was flat at 14,489.59 and the CAC 40 in Paris lost 0.5 per cent to 6,723.62. Britain’s FTSE 100 gave up 0.5 per cent to 7,522.46. The futures for the S&P 500 and the Dow Jones Industrial Average were 0.1 per cent lower.

Tokyo’s Nikkei 225 index lost 1.6 per cent to 27,777.90 and the Hang Seng in Hong Kong fell 0.3 per cent to 18,675.35. The Kospi in Seoul shed 1.8 per cent to 2,434.33. The Shanghai Composite index gave up 0.3 per cent to 3,156.14 and Australia’s S&P/ASX 200 slipped 0.7 per cent to 7,301.50. Bangkok’s SET index lost 0.5 per cent.

First published on: 02-12-2022 at 10:13 IST
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