Share Market Today News: Indices fall for the second straight day, Sensex crashes 420 points on weak global cues

Share Market Today, Stock Market Today, NSE, BSE, Nifty Share Prices Today, November 10: The S&P BSE Sensex fell 419.85 points (0.69 per cent) to end at 60,613.70 while the Nifty 50 declined 128.80 points (0.71 per cent) to settle at 18,028.20.

Stock Market, Share Market, Sensex, Nifty

Stock Market Today News Update: The BSE in Mumbai. (Express Photo by Ganesh Shirsekar)

Stock Market New Today, Sensex, Nifty Share Price Live Today, November 10, 2022: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended lower for the second consecutive day, falling around 0.7 per cent on Thursday weighed by market heavyweight Reliance Industries (RIL) and Axis Bank amid weakness in the global market.

The S&P BSE Sensex fell 419.85 points (0.69 per cent) to end at 60,613.70 while the Nifty 50 declined 128.80 points (0.71 per cent) to settle at 18,028.20. Both the indices had opened around 0.5 per cent lower earlier in the day and slipped further as the session progressed with the Sensex touching an intraday low of 60,425.47 and the broader Nifty hitting 17,969.40.

As many as 24 out of the 30 Sensex components ended in the red on Thursday. Axis Bank was the worst performer of the day followed by Bajaj Finserv, Titan Company, Mahindra & Mahindra (M&M), Bajaj Finance, IndusInd Bank, Power Grid Corporation of India, State Bank of India (SBI) and Maruti Suzuki India. In contrast, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, Dr. Reddy’s Laboratories, Hindustan Unilever and Housing Development Finance Corporation (HDFC) were the only gainers.

All sectoral indices on the NSE ended lower on Thursday. Nifty Auto index declined 1.95 per cent, Nifty PSU Bank fell 1.28 per cent and Nifty Consumer Durables slipped 1.18 per cent.

In the broader market, the S&P BSE MidCap fell 261.08 points (1.02 per cent) to settle at 25,427.98 and the S&P BSE SmallCap declined 307.66 points (1.05 per cent) to end at 28,889.48.

“Following sluggish global markets, the cautious mood persisted in the domestic market. Losses on the Dalal Street were led by profit booking in auto and PSU banks, while selling in mid and small caps followed the trend. Investors around the globe are awaiting US inflation data, which is expected to slow for the fourth month, which can have a positive lead,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global Markets (from AP)

Global stock markets fell on Thursday ahead of a US inflation update that will likely influence Federal Reserve plans for more interest rate hikes as investors waited to see who will control Congress after this week’s elections. London, Shanghai, Frankfurt and Tokyo declined. US futures were higher.

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In early trading, the FTSE 100 in London was 0.1 per cent lower at 7,285.86. The DAX in Frankfurt lost 0.1 per cent to 13,647.47 and the CAC 40 in Paris shed 0.2 per cent to 6,417.98. On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were up 0.3 per cent.

In Asia, Hong Kong’s Hang Seng index fell 1.7 per cent to 16,081.04 and the Nikkei 225 in Tokyo sank 1 per cent to 27,446.10. The Shanghai Composite Index lost 0.4 per cent to 3,036.13. The Kospi in Seoul declined 0.9 per cent to 2,407.70 and Sydney’s S&P-ASX 200 was off 0.5 per cent at 6,964.00.