Sensex Slips Over 300 Points, Nifty Trades Below 16,500; Tata Motors, Maruti Among Top Drags
The Indian equity indices traded lower on Friday taking cues from the global markets. Asian shares extended a global slump after the fastest U.S. inflation in four decades and a hawkish European Central Bank (ECB) bolstered expectations for more aggressive rate hikes, hammering sentiment already stung by the Russia-Ukraine war.
Back home, as of 9:18 am, the benchmark BSE Sensex slipped 341 points or 0.62 per cent to 55,123; while the broader NSE Nifty fell 117 points or 0.70 per cent to 16,478.
Mid-and small-cap shares were trading in the positive zone as Nifty Midcap 100 index edged 0.11 per cent higher and small-cap shares gained 0.92 per cent.
12 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Nifty IT, Nifty Auto and Nifty FMCG fell 0.67 per cent, 0.24 per cent and 0.31 per cent, respectively.
On the stock-specific front, Tata Motors (M&M) was the top Nifty loser as the stock cracked 1.22 per cent to ₹ 414.50. Maruti Suzuki India, Tata Consumer Products, Nestle India and Hindustan Unilver were also among the laggards.
On BSE, the overall market breadth was positive as 1,981 shares were advancing while 645 were declining.