Stock Market Update: There is heavy selling in the domestic stock market amid weak global cues. There is a sharp decline in both the Sensex and Nifty indices in today’s trading. Sensex has broken more than 450 points. Whereas Nifty has also come below 16900. In today’s business, there is all-round selling in the market. Bank and financial indices on Nifty have weakened more than 1 per cent. Auto and IT indexes are down half a percent. Metal, realty and FMCG stocks are also selling. Although the pharma index is in the green.
At present, there is a weakness of 473 points in the Sensex and it is trading at the level of 56,634.58. While Nifty is down 140 points at the level of 16868. Heavyweight stocks are selling. 25 stocks of Sensex 30 are in red mark. Today’s top losers include HDFCBANK, ITC, HDFC, INDUSINDBK, TATASTEEL, RIL, Maruti, TCS.
Global signals are looking weak for the domestic stock market. Selling is being seen in major Asian markets in today’s business. At the same time, on Tuesday, the US markets also closed with a fall. Investors are looking cautious in the market due to inflation, rate hike and fear of recession. Brent crude is seeing a softening in the international market. Crude is trading at $85 per barrel. At the same time, US crude is at $ 78 per barrel. The 10-year bond yield in the US has come down to 3.984 percent.
Torrent Pharma will acquire Curatio Healthcare. The company has acquired Curatio Healthcare for Rs 2,000 crore, which has a strong presence in dermatology with a portfolio of over 50 brands.
IIM Ahmedabad has signed an agreement with Nykaa to set up a Research Chair in Consumer Technology. The Chair has been set up for an initial period of 3 years and is facilitated by IIMA Endowment Fund.
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