Stock market today: BSE Sensex plunges over 600 points; Nifty50 near 24,150
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, plunged in trade on Tuesday. While BSE Sensex was just above 79,000, Nifty50 was above 24,150. At 3:02 PM, BSE Sensex was trading at 79,032.89, down 616 points or 0.77%. Nifty50 was at 24,160.60, down 186 points or 0.77%.
The top BSE Sensex gainers at this hour include Titan Company, Nestle India, HCL Tech, Sun Pharmaceutical, RIL, TCS, Bharti Airtel and Infosys.The top BSE Sensex losers are HDFC Bank, Bajaj Finance, Tata Motors, Tata Steel, SBI and Kotak Bank.
The stock market plunge was primarily influenced by a decrease in HDFC Bank share price. The bank is expected to witness lower-than-anticipated inflows due to a gradual adjustment of its weight on the MSCI emerging market index.
The Indian rupee remained relatively stable against the U.S. dollar, trading at 83.96 per dollar, in line with the gains observed in most Asian counterparts. However, the demand for dollars from importers is likely to limit any potential gains for the rupee.
The yield on the benchmark 10-year bond, quoted at 101.54 rupees, remained largely unchanged at 6.879%, as market participants await the release of U.S. inflation data to gauge the future direction of interest rates.
In the short-term money market, the one-year overnight index swap rate and the benchmark five-year swap rate both edged lower by 1 basis point, settling at 6.52% and 6.09%, respectively.
The overnight call money rate in India increased by 8 basis points, reaching 6.55%. Meanwhile, the overnight TREPS rate stood at 6.35%, slightly higher than the previous day’s weighted average of 6.28%.
Technical analysis indicates support for the Nifty index at 24,200 and 23,950-24,000 levels, with immediate resistance at 24,350-400 levels and the next resistance at 24,550 levels, according to Tejas Shah from JM Financial & BlinkX.
Several stocks are in the F&O ban period today, including India Cements, AB Capital, Birla Soft, Indiamart, RBL Bank, Sun TV, Hindustan Copper, ABFRL, Manappuram, LIC Housing Finance, PNB, Granules, SAIL, Bandhan Bank, and Biocon.
The top BSE Sensex gainers at this hour include Titan Company, Nestle India, HCL Tech, Sun Pharmaceutical, RIL, TCS, Bharti Airtel and Infosys.The top BSE Sensex losers are HDFC Bank, Bajaj Finance, Tata Motors, Tata Steel, SBI and Kotak Bank.
The stock market plunge was primarily influenced by a decrease in HDFC Bank share price. The bank is expected to witness lower-than-anticipated inflows due to a gradual adjustment of its weight on the MSCI emerging market index.
The Indian rupee remained relatively stable against the U.S. dollar, trading at 83.96 per dollar, in line with the gains observed in most Asian counterparts. However, the demand for dollars from importers is likely to limit any potential gains for the rupee.
The yield on the benchmark 10-year bond, quoted at 101.54 rupees, remained largely unchanged at 6.879%, as market participants await the release of U.S. inflation data to gauge the future direction of interest rates.
In the short-term money market, the one-year overnight index swap rate and the benchmark five-year swap rate both edged lower by 1 basis point, settling at 6.52% and 6.09%, respectively.
The overnight call money rate in India increased by 8 basis points, reaching 6.55%. Meanwhile, the overnight TREPS rate stood at 6.35%, slightly higher than the previous day’s weighted average of 6.28%.
Technical analysis indicates support for the Nifty index at 24,200 and 23,950-24,000 levels, with immediate resistance at 24,350-400 levels and the next resistance at 24,550 levels, according to Tejas Shah from JM Financial & BlinkX.
Several stocks are in the F&O ban period today, including India Cements, AB Capital, Birla Soft, Indiamart, RBL Bank, Sun TV, Hindustan Copper, ABFRL, Manappuram, LIC Housing Finance, PNB, Granules, SAIL, Bandhan Bank, and Biocon.
