Stock market plunges to new lows: Sensex down 212 pts intraday, Nifty below 15,300

Home inventory markets prolonged losses for the sixth consecutive session amid weak international cues with Sensex and Nifty recording new lows as buyers remained involved about surging inflation. Benchmark Indices have been buying and selling decrease through the afternoon, witnessing promoting strain throughout a number of counters.

At 1 pm, the BSE Sensex was buying and selling at 51,283.56, down 212.23 factors or 0.41 per cent. It recorded a contemporary 12 months low of fifty,921.22  and an intraday excessive of 51,634.15. The Nifty 50 slipped beneath the 15,200 mark, recording a contemporary 52-week low of 15,183.40. It was buying and selling at 15,282.15, down 78.45 factors or 0.51 per cent. It recorded an intraday low of 15,400.40.

Bajaj Finserv, Coal India, JSW Metal, ICICI Financial institution and Reliance have been the highest gainers on the Nifty 50, whereas Titan, Wipro, HDFC Life, TCS and Dr Reddy’s have been the highest losers.

The volatility index rose 2.36 per cent to 23.41.

VK Vijayakumar, Chief Funding Strategist at Geojit Monetary Companies mentioned, “The dominant theme impacting fairness markets globally is the synchronised international financial tightening and the ensuing fears of financial slowdown. The likelihood of the US slipping into recession is way larger now.”

“Markets are discounting these issues. In India, valuations have declined, however are even now above long-term common. So, FPIs will proceed to promote, capping a reduction rally which may come any time. It’s inconceivable to foretell the market backside,” Dr Vijayakumar added.

Sectoral indices 

On the sectoral entrance, all indices besides Nifty Metallic, Nifty Financial institution and Nifty Non-public Financial institution have been buying and selling in purple.

Nifty IT and Nifty Shopper Durables have been down over 2 per cent every. Nifty Pharma was down almost 2 per cent. Nifty Auto, Nifty Healthcare Index and Nifty Oil & Fuel have been down over 1 per cent every.

Alternatively, Nifty Metallic was up 0.28 per cent. Nifty Financial institution and Nifty Non-public Financial institution have been up 0.21 per cent and 0.26 per cent, respectively.

Broader indices 

Broader indices, too, have been buying and selling within the purple. 

The Nifty Midcap 50 was down 0.47 per cent, whereas the Nifty Midcap 50 was down 0.70 per cent. The S&P BSE Midcap was down 0.69 per cent, whereas the S&P BSE Smallcap was down 1.02 per cent.

Revealed on

June 17, 2022