Closing Bell: Broad-based sell-off triggers market fall following weak global cues

Closing Bell: Broad-based sell-off triggers market fall following weak global cues

by 5paisa Research Team Last Updated: Dec 10, 2022 - 07:16 am 30.1k Views

Domestic equity bourses Sensex and Nifty started the week deep in the red owing to weakness across global markets and selling across most sectors pulling the headline indices lower.

Indian stock market extended the fall on Monday as prospects of aggressive rate hikes by the US Federal Reserve hit investor sentiment. Shares fell across the board, dragged lower by heavy selling pressure in IT, FMCG and metal names, as weakness in global equities hit investors, extending their losses from the previous trading session.

In last week's trading session, eight of the top-10 most valued companies based on market capitalisation lost Rs 2,21,555.61 crore from their valuation, and the weak trend in the broader market, with Infosys and HDFC Bank getting the biggest hit. Broader Asian stocks also lost gains, driven by economic slowdown fears from the anticipated aggressive monetary policy tightening from most central banks, led by the US Fed. Owing to these developments benchmark indices closed lower for the second consecutive week on April 25.

At the closing bell today, the Sensex was down 617.26 points or 1.08% at 56,579.89, and the Nifty was down 218.00 points or 1.27% at 16,954.00. On the market breadth, around 1008 shares have advanced, 2435 shares declined, and 136 shares are unchanged.

Top Nifty losers of the day were Coal India, BPCL, Tata Steel, Hindalco Industries and SBI Life Insurance, while top gainers included Bajaj Auto, ICICI Bank, HDFC Bank, Maruti Suzuki and HDFC.

In the sectors, except bank, all other sectoral indices ended in the red with auto, capital goods, FMCG, healthcare, IT, power, metal, oil & gas, realty down 1-4%. in the broad market, the BSE midcap and smallcap indices lost nearly 2% each.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Plada Infotech Services IPO GMP (Grey Market Premium)

Plada Infotech Services Ltd is a fixed Price IPO, priced at ₹48 per share and is entirely a fresh issue offering. The ₹12.36 crore IPO of Plada Infotech Services Ltd comprises entirely of a fresh issue with no offer for sale (OFS) component.

  • Sep 27, 2023
Sharp Chucks And Machines IPO GMP (Grey Market Premium)

The IPO of Sharp Chucks And Machines Ltd comprises of a fresh issue and an offer for sale, being a fixed priced IPO priced at ₹58 per share.

  • Sep 27, 2023
Oneclick Logistics India IPO GMP (Grey Market Premium)

The ₹9.91 crore IPO of Oneclick Logistics India Ltd  comprises entirely of a fresh issue with no offer for sale (OFS) component in the IPO from promoters and early shareholders. It is a fixed price issue and the fixed price of the IPO has been set at ₹99 per share.

  • Sep 26, 2023