October 3, 2022
Stock Market: Selling pressure, Sensex down 412 points

Stock Market: The BSE Sensex and NSE Nifty 50 fell more than half a per cent on Thursday. The BSE Sensex ended 412 points or 0.7 per cent lower at 59,934, while the NSE Nifty 50 ended 126 points or 0.7 per cent lower at 17,877.40. Shares of Maruti Suzuki, Power Grid Corporation of India, NTPC, Housing Development Finance Corporation (HDFC), Bharti Airtel, L&T were among the top index gainers. On the other hand, Tech Mahindra, Infosys, Tata Steel, Bajaj Finserv, Axis Bank, IndusInd Bank and Titan Company were top losers in the Sensex. The Bank Nifty index ended 0.5 per cent lower at 41,209.

The positive sentiment in other Asian indices failed to impress Indian investors as they continued the selling streak. Auto was the only index that remained stable throughout the session and Maruti led the rally with a gain of 2.5 per cent. Adani Ports and Eicher Motors also gained 2 per cent. Hindalco declined nearly 4 per cent, followed by Infosys and Tech Mahindra by 3 per cent. In the indices IT, Pharma, Healthcare and Media dragged the market.

Asian indices remained mostly in the green. Investors changed buying mood on higher-than-expected US inflation data. Japanese stocks closed higher. The stock of Nikkei has gained an average of 0.21 percent. Hong Kong shares closed higher with the Hang Seng index up 0.4 per cent. The Shanghai Composite Index, however, fell 1.2 per cent. European stocks edged higher, backed by banks.

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