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Thursday, Dec 08, 2022

Share Market Today Updates: Sensex crashes nearly 1,100 points, Nifty ends below 17,550-mark on weak global cues

Share Market Today Sensex, Nifty, Share Prices LIVE: The S&P BSE Sensex crashed 1,093.22 points (1.82 per cent) to end at 58,840.79 while the Nifty 50 declined 346.55 points (1.94 per cent) to settle at 17,530.85.

Share Market News Today | Sensex | Nifty | Share Price TodayShare Market News: The BSE in Mumbai. (Express Photo by Ganesh Shirsekar)

Stock Market Today, Sensex, Nifty Share Prices Updates: The frontline indices on the BSE and National Stock Exchange (NSE) extended their losses for the third consecutive day, settling nearly 2 per cent lower on Friday weighed by market heavyweight Reliance Industries (RIL) and IT stocks amid a sharp selloff in the global market.

The S&P BSE Sensex crashed 1,093.22 points (1.82 per cent) to end at 58,840.79 while the Nifty 50 declined 346.55 points (1.94 per cent) to settle at 17,530.85. Both the indices had opened around 0.5 per cent lower and skid further as the trade progressed with the BSE benchmark touching an intraday low of 58,687.17 while the broader Nifty touched 17,497.25.

On the Sensex pack, Tech Mahindra, Ultratech Cement, Infosys, Mahindra & Mahindra (M&M), Nestle India, Wipro, Tata Consultancy Services (TCS), RIL, Dr. Reddy’s Laboratories, Asian Paints, HCL Technologies and Bajaj Finserv were the top losers on Friday crashing between 2-4.5 per cent. Only IndusInd Bank and Axis Bank managed to end in the green.

All the sectoral indices on NSE ended in the red on Friday. Nifty Media crashed 4.07 per cent, Nifty Realty declined 3.72 per cent and Nifty IT fell 3.71 per cent.

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In the broader market, the S&P BSE MidCap index crashed 748.99 points (2.85 per cent) to end at 25,558.21 while the S&P BSE SmallCap declined 712.12 points (2.38 per cent) to settle at 29,199.39.

Commenting on the market, Deepak Jasani, Head of Retail Research at HDFC Securities said, “Nifty ended the week down by 1.59 per cent. Markets seem to have started the downward move after forming triple top on daily charts over the last three days. On weekly charts, Nifty has formed a bearish Dark Cloud Cover. 17,401 and 17,170 are the next levels on the downside that may provide temporary support. On upmoves, 17,771 may be difficult to breach in the near term.”

Global Market (from AP)

Global stocks and Wall Street futures fell on Friday after higher-than-expected US inflation dashed hopes the Federal Reserve might back off plans for more interest rate hikes. London and Frankfurt opened lower. Shanghai, Tokyo and Hong Kong retreated. Oil prices declined.

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Wall Street’s benchmark S&P 500 index lost 1.1 per cent on Thursday, adding to declines after August inflation stayed near a four-decade high despite four interest rate hikes this year to slow the economy.

In early trading, the FTSE 100 in London lost 0.3 per cent to 7,262.67 and the DAX in Frankfurt shed 1.7 per cent to 12,731.46. The CAC 40 in Paris sank 1.4 per cent to 6,070.61. On Wall Street, the S&P 500 future was down 0.9 per cent. That for the Dow Jones Industrial Average was off 0.8 per cent.

In Asia, the Shanghai Composite index lost 2.3 per cent to 3,126.39 after data showed Chinese consumer and factory activity improved in August but were still weak. Housing sales fell 30 per cent from a year earlier under pressure from a government crackdown on debt. The Nikkei 225 in Tokyo sank 1.1 per cent to 27,567.65 and the Hang Seng in Hong Kong retreated 0.9 per cent to 18,761.69. The Kospi in Seoul shed 0.8 per cent to 2,382.78 and Sydney’s S and P-ASX 200 was 1.5 per cent lower at 6,739.10.

First published on: 16-09-2022 at 09:42:07 am
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