Share Market Update: Selling was seen in the domestic stock market amid weak global cues and both Sensex and Nifty indices have weakened in today’s trade. There is a fall of about 1100 points in the Sensex, then the Nifty has come down to 17700. IT stocks were the biggest losers in today’s trade. IT and auto indices on the Nifty fell over 2 per cent, while bank, financial and metal stocks were also under pressure.
Today the Sensex closed at 58,840.79, down nearly 1,100 points. This is the first time the 30-stock gauge has closed below 59,000 in two weeks since September 2. Nifty 50 also closed at 17,530.85, down almost 2 per cent. Of the Nifty 50 stocks, only two – IndusInd Bank and Cipla – edged up while all other 59 stocks declined.
UPL, Tata Consumer, Tech Mahindra, UltraTech Cement and Infosys were among the top losers. The broader indices underperformed their larger peers. The midcap index fell nearly 3 per cent while the smallcap gauge fell 2.5 per cent. All the 19 sectoral indices compiled by BSE Ltd declined. Around 989 stocks rose, 2,517 fell and 104 remained unchanged.
Today 27 shares of Sensex 30 remained in the red mark. Today’s top losers include Mahindra & Mahindra, TechMahindra, Ultrachem, Infosys, TCS, Wipro, Reliance and Maruti. Selling has been seen in major Asian markets in today’s trade. At the same time, before this, the US markets closed on the decline. Investors are cautious due to the bleak picture of the economy in the US.