Heavy selling is being seen in the domestic stock market today amid weak global cues. In today’s trading, both Sensex and Nifty indices have a strong decline. Sensex has broken more than 1400 points. Whereas Nifty has come down to 15800. There is all-round selling in the market today. Sentiment has been poor since the inflation data in the US. There has been the biggest increase in the Consumer Price Index since 1981.
At present, there is a weakness of 1453 points in the Sensex and it is trading at the level of 52,850. Whereas Nifty is at the level of 15772 after breaking 430 points. Bank and financial indices on Nifty are down more than 2.5 percent. While the IT index has weakened by about 3 percent, the auto index by about 2 percent and the realty index by more than 2.5 percent. All major indices, including FMCG, metals and pharma, have weakened.
Heavyweight shares are selling today. All 30 stocks of Sensex 30 are in red mark. Today’s top losers include Bajaj Twins, ICICI Bank, SBI, Indusind Bank, Kotak bank, HDFC and INFY. Amidst all this, the market cap of companies listed on BSE decreased by 5 lakh crores.
Astron Paper & Board Mill’s Conso profit during the March quarter of FY 2022 has come down from Rs 6.8 crore to Rs 0.32 crore on a year-on-year basis. The company’s revenue fell from Rs 143.8 crore to Rs 143.2 crore during this period.
Paint maker Berger Paints India said out of 23 employees hospitalized after the fire at the Howrah plant died, 17 are out of danger and are expected to be discharged soon.
Churchil Bhatt, EVP, Debt Investments, Kotak Mahindra Life Insurance Company said, “It’s natural for Emerging Market currencies to weaken during risk-off sentiments. High oil import bills and FPI equity outflows are key market drivers at this point. While the Reserve Bank of India has sufficient reserves to manage any undue volatility, INR may be expected to move in line with its Asian peers. We expect INR to exhibit a near-term bias for orderly depreciation towards 80 levels.”