Stock Market Updates Today: Markets are cautious before the US Fed takes a decision on interest rates. Weakness is visible in the domestic stock market today. Both Sensex and Nifty indices have weakened in trading. Sensex is down more than 100 points. Whereas Nifty has also come close to 15700.
At 10am, the Sensex was down 65.28 points at 52,628.29, while the broader Nifty fell 21.10 points to 15,711. Metal and FMCG shares are selling in today’s trading. Both the indices are in red mark on Nifty.
However, bank, financial and IT indices are showing in the green. Auto, pharma and realty indices also gained. Nifty is trading at the level of 15707 by breaking 25 points.
Heavyweight stocks have a mixed reaction. 12 stocks of Sensex 30 are in red mark, while 18 are in green mark. Today’s top losers include RIL, Airtel, HUL, HDFC and Titan. While the top gainers include M&M, BAJAJFINSV, BAJFINANCE, TATASTEEL and SBI.
Talking about global cues, mixed reaction is visible in major Asian markets in today’s trade. On the other hand, pressure was also seen in the US markets on Tuesday.
Investors looked cautious in the market due to fears of a rate hike by the US Fed, a rise in 10-year bond yields and a slowdown in economic growth due to rising inflation.
The 10-year bond yield in the US touched 3.48 per cent on Tuesday, an 11-year high. At the same time, Brent crude is at $ 122 per barrel in the international market. While US crude is also trading at $ 119 per barrel.
Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources.
Top 5 losers on NSE in morning trade
Tata Chemicals 874.10 -34.35(-3.78)
Tata Steel 960.45 -35.70(-3.58)
Canara Bank 191.20 -5.95(-3.02)
Kajaria Ceramics 936.85 -28.40(-2.94)
Indiabulls Real Estate 65.80 -1.95(-2.88)
The rupee opened on a flat note and inched higher by 5 paise to 77.99 against the US dollar in opening trade on Wednesday.