Closing Bell: Market fall continues, Nifty holds 16300

Closing Bell: Market fall continues, Nifty holds 16300

by 5paisa Research Team Last Updated: Dec 15, 2022 - 05:50 pm 28.8k Views
Listen icon

Domestic equity bourses Sensex and Nifty slumped to their lowest levels in two months dragged by selling across sectors, with oil & gas, financial, consumer and metal stocks being the biggest drags.

Indian equity market extended its fall for the second straight session on Monday amid weak global cues. Aggressive interest rate hikes from central banks, a city-wide Covid-19 lockdown in Shanghai and the continuous Russia-Ukraine war jolted global investor sentiment.

Owing to these developments, benchmark indices ended lower in the volatile session with Nifty barely holding the 16300 level.

At the closing bell on May 9, the Sensex was down 364.91 points or 0.67% at 54470.67, and the Nifty was down 109.40 points or 0.67% at 16301.90. On the market breadth, around 1036 shares have advanced, 2353 shares declined, and 140 shares are unchanged.

Top Nifty losers of the day were Reliance Industries, Hero MotoCorp, Nestle India, IndusInd Bank and Tata Steel, while top gainers include Power Grid Corporation, HCL Technologies, Bajaj Auto, Infosys and Divis Labs. In the top laggards, Reliance Industries was the biggest loser as the stock lost 4.30% to Rs 2,508.

On a sectoral basis, oil & gas, metal, FMCG, power, realty and PSU Bank indices fell 1-2% each. In the broader markets, BSE midcap and smallcap indices shed nearly 2% each.

In the trending news, state-insurer Life Insurance Corporation of India's (LIC's) initial share sale was oversubscribed 2.88 times on the final day of bidding. In global markets, European stocks also hit a two-month low dragged by mining stocks as investors digested the sharp economic slowdown in China due to prolonged coronavirus curbs. The pan-European Stoxx 600 index was lower by 1.4% in early trade.

Share Market Today


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

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
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
What you must know about India Shelter Finance IPO?

India Shelter Finance Corporation Ltd was incorporated in 1998 and offers small and mid-ticket home loans. These loans are typically in the size of ₹5 lakhs to ₹50 lakhs. It provides home loans for construction, purchase, extension and also for renovation.

Tata Group Plans Massive iPhone Assembly Plant in India

Tata Group is gearing up to construct one of India's biggest iPhone assembly plants in Hosur, Tamil Nadu, aligning with Apple Inc.'s vision to expand its manufacturing footprint in the South Asian country.

RBI maintains 6.5% Repo Rate, boosts Growth Forecast. December Meeting Highlights

In its today’s monetary policy meeting, the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%, marking the fifth consecutive time.