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Benchmark Indian equity indices, BSE Sensex and Nifty 50, opened slightly higher on Wednesday, tracking modest global cues.
Stock Market Updates
Stock Market Today: Benchmark Indian equity indices BSE Sensex and Nifty 50 tumbled into negative territory at noon.
At noon, out of the 30 constituent stocks on BSE Sensex, 22 stocks were trading in the red. Gains were led by HDFC Bank (up 1.42 per cent), followed by TCS, NTPC, Titan, and Bajaj Finance, while losses were capped by Power Grid Corp. (down 2.02 per cent), followed by Bharti Airtel, Tata Motors, Adani Ports & SEZ, and Tata Steel.
On the Nifty 50, too, 36 out of the 50 constituent stocks were trading with cuts. Gains were led by HDFC Life (up 2.05 per cent), followed by HDFC Bank, SBI Life, Apollo Hospital Enterprises, and TCS, while losses were capped by Tata Motors (down 2.11 per cent), followed by Power Grid Corp., Bajaj Auto, Bharti Airtel, and Eicher Motors.
Across sectors, meanwhile, the Auto index was the top drag, falling 0.80 per cent, followed by Metal, FMCG, Oil and Pharma indices. On the flip side, gains were led by the Realty index, which had climbed 0.99 per cent, followed by PSU Bank, Financial Services, Bank, Consumer Durables, and IT indices.
In the broader markets, the Nifty Midcap 100 had gained 0.61 per cent, while the Nifty Smallcap 100 was ahead by 0.43 per cent.
Global Cues
Markets in the Asia-Pacific region were trading lower following South Korea’s President Yoon Suk Yeol’s brief imposition and subsequent lifting of martial law. South Korea’s Kospi index fell by 1.8%, while the Kosdaq dropped 2.18%.
Other Asian markets also saw declines, with Japan’s Nikkei 225 down 0.3%, the Topix dropping 0.4%, Hong Kong’s Hang Seng index down 0.16%, the CSI 300 falling 0.27%, and the Shanghai Composite slipping 0.13%. Australia’s S&P/ASX 200 was down 0.55%.
In the US, both the S&P 500 and Nasdaq Composite closed at record highs overnight, while the Dow Jones saw a decline. Investors also absorbed reassuring comments from Federal Reserve officials, who indicated that inflation is on track to reach the central bank’s 2% target, with a “solid” job market.
