Sensex today: The Sensex and Nifty benchmark indices started lower on Friday amid weak global signals and weak domestic sentiment following a sharp decline in the rupee.
Key Indices Nifty50 fell more than 50 points to trade below 17,600 levels and the S&P BSE Sensex fell more than 250 points to trade at 58,867 levels.
Moderate risk appetite was also seen in broader markets, as the Nifty SmallCap 100 and Nifty MidCap 100 indices fell more than 0.2 percent.
All sectors traded volatile. While Nifty Media, Nifty Pharma and Nifty Metal opened indices with marginal gains; Nifty Bank, Nifty Realty and Nifty Energy indices fell the most – nearly 1 percent.
Tata Steel, HUL, Titan, ITC, Sun Pharma tried to cut losses for the benchmark indices. However, Tech Mahindra, HDFC Twins, IndusInd Bank, Axis Bank and NTPC contributed to the sharp cuts.
Global clues
Australian stocks hit a more than two-month low on Friday as investors returning to trading after a one-day vacation pulled out of riskier assets after the US Federal Reserve reiterated its aggressive monetary policy outlook to combat scorching inflation.
Major Wall Street indices closed lower on Thursday, falling for the third straight session as investors reacted to the Federal Reserve’s latest aggressive move to curb inflation by selling growth stocks, including tech companies.
Oil prices rose in early Asian trade Friday on the prospect that a stalled nuclear deal with Iran and Moscow’s new mobilization campaign in the invasion of Ukraine would further curtail global supplies.
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