MARKET OVERVIEW :
Investors Lose Nearly ₹3 Lakh Crore
Market closing bell: Nifty 50 ends below 19,750, Sensex falls over 550 points.
US Fed Meeting Highlights: At 5.25%-5.5%, FOMC holds rates unchanged at 22-year high-mark
Nifty 50 closed with a loss of 159 points, or 0.80 per cent, at 19,742.35 while the Sensex ended at 66,230.24, down 571 points, or 0.85 per cent. The domestic market saw an all-round selloff on Thursday which made benchmarks Nifty 50 and Sensex end in the negative territory for the third consecutive session. Weak global cues continued weighing on domestic market sentiment. Major European markets, including France’s CAC, Germany’s DAX and the UK’s FTSE fell up to a per cent ahead of the Bank of England interest rate decision. US Fed Meeting Highlights: At 5.25%-5.5%, FOMC holds rates unchanged at 22-year high-mark Last night, the US Fed kept interest rates unchanged but signalled that it will go for one rate hike by the end of this year. It also indicated that rates will stay higher for a longer period which seems to have spooked markets. The overall market capitalisation of the firms listed on BSE dropped to nearly ₹317.9 lakh crore from ₹320.5 lakh crore in the previous session, making investors poorer by about ₹2.6 lakh crore in a single day.
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As many as 34 stocks ended with losses in the Nifty 50 index while the remaining 16 ended with gains. Shares of Mahindra and Mahindra, with a loss of 2.88 per cent, closed as the top losers, followed by the shares of ICICI Bank (down 2.81 per cent) and Cipla (down 2.47 per cent). On the other hand, shares of Adani Ports (up 1.74 per cent), Tech Mahindra (up 1.43 per cent) and Dr. Reddy’s Laboratories (up 1.10 per cent) ended as the top gainers in the index. Nifty 50 opened at 19,840.55 against the previous close of 19,901.40 and fell by almost a per cent to hit the intraday low of 19,709.95. On the other hand, Sensex declined 672 points to hit its intraday low of 66,128.71 today.Nifty 50 closed with a loss of 159 points, or 0.80 per cent, at 19,742.35 while the Sensex ended at 66,230.24, down 571 points, or 0.85 per cent. Mid and smallcaps underperformed the benchmarks as the BSE Midcap index fell 0.99 per cent and the Smallcap index ended with a loss of 0.98 per cent. The overall market capitalisation of the firms listed on BSE dropped to nearly ₹317.9 lakh crore from ₹320.5 lakh crore in the previous session, making investors poorer by about ₹2.6 lakh crore in a single day.
Top Nifty 50 gainers and losers today
As many as 34 stocks ended with losses in the Nifty 50 index while the remaining 16 ended with gains. Shares of Mahindra and Mahindra, with a loss of 2.88 per cent, closed as the top losers, followed by the shares of ICICI Bank (down 2.81 per cent) and Cipla (down 2.47 per cent). On the other hand, shares of Adani Ports (up 1.74 per cent), Tech Mahindra (up 1.43 per cent) and Dr. Reddy’s Laboratories (up 1.10 per cent) ended as the top gainers in the index.