Tuesday, Oct 04, 2022
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Stock Market Today: Sensex Slips Over 300 Points, Nifty Below 16,600

At 9:18 am, BSE Sensex was down 364 points or 0.65 per cent at 55,561, whereas the Nifty 50 index slipped 91 points or 0.55 per cent at 16,569. 

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Sensex.

The Indian equities benchmark opened lower on Tuesday as indicated by the SGX index. At 9:18 am, BSE Sensex was down 364 points or 0.65 per cent at 55,561, whereas the Nifty 50 index slipped 91 points or 0.55 per cent at 16,569. 

The Nifty Midcap 50 index advanced 0.16 per cent at 7,770, whereas the Nifty Midcap 100 index advanced 0.02 per cent at 28,332. Barring auto, metal, realty and oil and gas, all other sectoral indices were trading in red.

Amongst the Nifty 50 companies, ONGC, Power Grid, Bajaj Auto, Tata Steel and Coal India Limited were the top gainers, whereas Sun Pharma, Titan, Kotak Bank and HCL Technology were the top losers. Amongst the BSE listed companies, Infosys, Titan, HDFC, Sun Pharma, HCL Technology, and TCS were the top losers, whereas Power Grid, Mahindra & Mahindra, Tata Steel, Maruti, and NTPC were the only gainers. 

Meanwhile, in Asia the major indices were trading higher after a negative start in early trade on Tuesday. While the Hang Seng index was up 0.07 per cent, South Korea’s KOSPI surged 0.08 per cent. Japan’s Nikkei 225 surged 0.o3 per cent, whereas the Shanghai composite surged 0.18 per cent. The Shenzhen Composite of China surged 0.08 per cent. 

The markets in the USA remained closed on Monday on account of Memorial Day. On Friday, breaking the seven-week losing streak, major indices were trading higher boosted by technology stocks. The S&P 500 surged 100.40 points or 2.5 per cent to 4,158, whereas the Dow Jones Industrial Average advanced 575 points or 1.8 per cent to 33,212. The Nasdaq surged 390.48 points or 3.3 per cent to 12,131. 

The foreign institutional investors (FII) remained the net buyers worth Rs 502 crore for the first time since April 28. The domestic institutional investors (DII) remained the net buyers worth Rs 1,524 crore.

The crude oil prices surged on Tuesday after the European Union slashed oil imports from Russia. The Brent crude futures for July, which expires on Tuesday, advanced 33 cents to $122 a barrel, whereas the more active August contract surged 33 cents to $117.93. US West Texas Intermediate surged $2.24 higher from Friday’s close and was trading at $117.31 per barrel. Rupee surged higher by 4 paise to close at 77.54 against US Dollars on Monday.

Sun Pharma, LIC, IRCTC, Varroc, NLC India and Aurobindo Pharma are some of the stocks in focus today. The LIC reported a a 17 per cent decline in consolidated net profit to Rs 2,409 crore for the fourth quarter ended March 2022.

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