Stock Market Today: Indian equity markets started on a choppy note on Monday morning amid weak global cues post the Reserve Bank of India’s (RBI) 140 basis point rate hike. Benchmark indices Nifty50 was down 30 points to trade below 17,400 mark, whereas the S&P BSE Sensex shed 100 points at 58,299 levels.
Broader markets, too, reflected the tepid mood as Nifty Midcap 100 underperformed Nifty Smallcap 100 and lost 0.06 per cent in trade.
Sectorally, Nifty Metal, Nifty Pharma, and Nifty Auto defied the overall market mood. However, Nifty PSU Bank and Nifty Realty were bogged down in trade.
Among individual stocks, shares of Titan gained over 1 per cent after net profit jumped three-fold to Rs 790 crore in Q1FY23.
Besides, shares of Adani Ports climbed 0.7 per cent ahead of their Q1FY23 results.
Global Cues
Globally, the US markets were mixed on Friday as Dow Jones gained 0.2 per cent, however, NASDAQ Composite and the S&P 500 declined 0.5 per cent and 0.1 per cent, respectively.
Major markets in Asia-Pacific fell in trade on Monday morning. Japan’s Nikkei 225 was flat and South Korea’s Kospi declined 0.2 per cent.
Meanwhile, prices of crude oil remain unchanged as Brent Crude hovered around $94 per barrel, whereas WTI Crude was at $88 per barrel.
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