Closing Bell: Market cracks over 2%, Nifty hangs on to 15800

Closing Bell: Market cracks over 2%, Nifty hangs on to 15800

by 5paisa Research Team Last Updated: Dec 14, 2022 - 10:55 pm 28.8k Views
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Domestic equity bourses Sensex and Nifty crashed over 2% today ahead of domestic retail inflation data and broad-based selling.

Indian equity markets fell heavily on Thursday, dragged mostly by banking, financial and metal stocks. The headline indices have now extended their fall for the fifth straight session today.

Participants remain worried ahead of April's retail inflation data, which according to reports, is likely to stay at an 18-month high. A broader decline in global markets following US consumer price data also jolted the investor sentiment. The US consumer price index rose 8.3% from a year ago, slower than March's peak of 8.5%, near the highest level in over 40 years.

In India, the consumer price-based (CPI) inflation numbers are scheduled to be released in the evening. Adding to the gloom, the Indian rupee plunging to a fresh record low against the US dollar made investors jittery. Owing to these developments, benchmark indices continued to close in negative for the fifth day in a row.

At the closing bell on May 12, the Sensex was down 1,158.08 points or 2.14% at 52930.31, and the Nifty was down 359.10 points or 2.22% at 15808. On the market breadth, around 747 shares have advanced, 2542 shares declined, and 84 shares are unchanged.

Top Nifty losers of the day were Adani Ports, IndusInd Bank, Tata Motors, Tata Steel and Hindalco Industries, while only Wipro was the Nifty gainer.

Sector-wise, all the indices closed in the red with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma, and realty indices falling by 1-4% each. In the broad market, the BSE midcap and smallcap indices lost 2% each.

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