Last Update: January 19, 2023, 09:34 AM IST
FILE PHOTO: A man looks across the street at a screen displaying the Sensex on the façade of the Bombay Stock Exchange (BSE) building in Mumbai, India, June 29, 2015. Reuters/Danish Siddiqui
Sensex Today: Major benchmarks started Thursday morning on a dull note. Besides, weekly F&O expiry, and Q3FY23 results could add to the volatility.
Sensex Today: Major benchmarks started Thursday morning on a dull note. Weak trade in global markets may derail the strength in Indian stock markets on Thursday. Besides, weekly F&O expiry, and Q3FY23 results could add to the volatility.
The S&P BSE Sensex was down 132 points at 60,912 while the Nifty 50 was at 18,125.
In the broader markets, the BSE Midcap and Smallcap indices were trading lower by 0.1 per cent each.
All Sectoral Indices except smelly Pharma, were trading with deductions. The Nifty Metal index fell 0.6 per cent, followed by the Nifty IT index (down 0.5 per cent).
Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “The key issue affecting equity markets globally is whether the US will be able to contain inflation without falling into recession. There is no consensus on this. When data indicates a possible recession, US markets go down and all other markets are affected. Conversely, when data indicates the US economy has avoided recession, US markets go up and all other markets start to rally. This volatility will continue till there is clarity on the issue of US recession. Early results for the third quarter indicate a good performance by IT and banking. Bank Nifty is marginally weaker on concerns of rising deposit cost pressure. But the credit cycle is strong. IT numbers do not reflect recessionary fears. The trend indicates that the capital goods segment is strong.”
global signal
Shares in Asia-Pacific were mostly trading lower this morning. In Japan, the Nikkei 225 shed 1.06 percent, South Korea’s Kospi shed 0.21 percent, while Australia’s S&P/ASX 200 fell 0.11 percent. Hong Kong’s Hang Seng index lost 0.72 percent and Mainland China’s Shanghai Composite lost 0.26 percent.
Overnight, major US stock indexes faltered, with the S&P 500 recording its worst day in more than a month. The Dow fell 1.81 percent, the S&P 500 lost 1.56 percent, and the Nasdaq Composite fell 1.24 percent, snapping a seven-day winning streak.
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