Sensex flat on closing day, Nifty closes at 15,780 amid high volatility; Zomato, Paytm down up to 6%

Major benchmark indices ended a volatile week on a weak note amid weakness in US stock futures and European markets as they erased the day’s gains. Sensex and nifty During the entire session, it swung between red and green zones. Sensex closed 8 points lower at 53,018. The index had touched an intra-day high of 53,377, up 136 points. The NSE Nifty 50 index closed at 15,780, down 19 points. The index had risen 90 points to its day’s high of 15,890.

top gainers and losers

Only 11 stocks closed in the green on the Sensex. Axis Bank, SBI, Kotak Bank, NTPC, L&T, Reliance, ICICI Bank, Titan and PowerGrid rose 0.3-1.7 per cent. Divi’s Labs, Britannia and SBI Life were additional winners on Nifty.

On the downside, Tech M, Bajaj Twins, Tata Steel, IndusInd Bank, HCL Tech, M&M, Nestle, UltraTech Cement, Eicher Motors, Cipla, BPCL JSW Steel, Shree Cement and Coal India Two benchmarks had top drags, down as much as 3.5 percent.

The broader markets suffered more losses than the frontline indices. The BSE Midcap and Smallcap indices fell 0.5 and 0.7 per cent, respectively.

In terms of sector, Nifty Bank and Financial were the only outperformers, closing with gains of around 0.5 per cent. On the other hand, losses led by the metal closed down 2 per cent. Other top drugs were auto, IT, realty and PSBs, each falling one per cent.

Among stocks, Indus Towers gained 2.5 per cent on discussions of a potential big block deal in today’s trade of 1.89 crore shares.

Indian Oil Corp (IOC) also rose 2 per cent as the stock for the bonus issue became ex-date.

VK Vijayakumar, chief investment strategist at Geojit Financial Services, said: “Fed chief Powell yesterday renewed his stern statement that the central bank is determined to control inflation and that a “soft landing is possible, but extremely challenging”. What is interesting from the perspective is that the US markets largely ignored it and ended almost flat. This could be an early sign that the market is turning down. FPI selling yesterday’s June average 851 crores which was around Rs 2700 crores, this can also be interpreted as early signs of sell-off. The data will have to be seen to see if this trend persists.”

“The market movement in the near term will be sharply influenced by the expected FY23 Q1 results from the second week of July. Banking, IT and auto (especially PV and CV) results are likely to be good and metal, cement and some FMCG results may disappoint,” he said.

global signal

Asian stocks ended on a rough Thursday in a gloomy mood amid fears that central banks’ treatment of inflation could hurt the global economy, though it is proving to be an uptick for the safe-haven dollar and government bonds. .

Tokyo shares opened lower on Thursday after US stocks ended flat with investors looking for new trading cues. The benchmark Nikkei 225 index fell 0.19 per cent, or 51.32 points, to 26,753.28, while the broader Topix index was down 0.34 per cent, or 6.48 points, at 1,887.09.

The S&P 500 ended a seesaw session slightly down on Wednesday as investors staggered toward a downbeat month’s finish line, a disappointing quarter and the worst first half for Wall Street’s benchmark index since President Richard Nixon’s first term .

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