Amidst mixed global signals, there is weakness in the domestic stock market today. There is a fall in Sensex and Nifty in today’s trading. Sensex has broken more than 350 points. Whereas Nifty has come down to 16550. There is a sell-off in IT and financial stocks in the business. The IT index on Nifty has weakened by more than 1 per cent. Bank and financial indices are also in red mark on Nifty. Whereas FMCG and Pharma index are showing in red mark. At present, there is a fall of 468 points in the Sensex and it is trading at the level of 55,457.44.
Whereas the Nifty is showing a loss of 120 points at the level of 16541. Selling is visible in heavyweight stocks. 26 stocks of Sensex 30 are seen in red mark. Today’s top losers include INFY, HDFC, SUNPHARMA, TITAN, HCLTECH, BAJFINANCE, KOTAKBANK and TCS.
Talking about the global cues, there is a mixed trend in the major Asian markets in today’s business. At the same time, on the first Monday, the US markets have continued to rise. Brent crude is seeing a rise. Brent crude is trading at $112 per barrel in the international market. While US crude is also at $ 118 per barrel. The 10-year bond yield in the US stands at 2.837 per cent.
There is a great rise in auto stocks in today’s business. The auto index on Nifty has gained 1.5 percent. M&M is seeing a rise of 4 percent. BAJAJ-AUTO, TVSMOTOR, TATAMOTORS, HEROMOTOCO, EICHERMOT and MARUTI are also seeing a boom.
There is a recovery in the stock market. The market has got support from the spectacular boom in auto stocks. There is a weakness of 32 points in the Sensex and it is trading at the level of 55894. While Nifty is up 7 points at the level of 16668. M&M and MARUTI are among the top gainers in the Sensex 30.