The Sensex fell 350 points and the Nifty hovered at 19,550 in India. Sensex and Nifty 50 stocks Wipro, HDFC Life, Hindalco, PowerGrid, Tata Steel, Tata Consumer, Coal India, UPL, Bajaj Finserv, SBI Life, JSW Steel, L&T, and NTPC fell..
Stock Market Today: The Sensex fell 350 points on Wednesday, while the Nifty hovered at 19,550. These losses occurred amid negative market cues and Wipro’s 3% stock drop. The benchmark Sensex fell 350 points, or 0.59%, to 59,218 points. Both indices fell due to stock market participants’ caution.
Both Sensex and Nifty struggle
The 30-share Sensex, a leading indicator of India’s stock market, fell, with just IndusInd Bank and HCLTech remaining positive. Only a few equities traded positively on the Nifty 50 index, another important market benchmark. Bajaj Auto, LTI Mindtree, IndusInd Bank, HeroMotoCorp, BPCL, and HCLTech traded well.
Stocks in Red
Multiple equities in both important indices dragged them down, causing the market fall. Today’s losers were Wipro, HDFC Life, Hindalco, PowerGrid, Tata Steel, Tata Consumer, Coal India, UPL, Bajaj Finserv, SBI Life, JSW Steel, L&T, and NTPC.
Broader market indices fall.
Broader market indices fell with important indices. Nifty Midcap 50 down 0.97%, followed by Nifty Next 50, which fell 0.94%. The Nifty Midcap 100, Select, 150, and 250 also lost 0.86%, 0.87%, 0.85%, and 0.83%.
Sectoral drops
Today’s market saw losses across all sectors. At 1.76%, Nifty Metal fell the most, followed by Nifty Realty at 1.30%. The Nifty Financial Services sector fell 0.88%, while the pharma and healthcare indices fell 0.85% and 0.78%, respectively.
Upcoming earnings reports
Today, Hindustan Unilever, ITC, Ultratech Cement, and Nestle India will disclose their Q2 earnings, which investors are eagerly awaiting. These reports will reveal corporations’ financial health and affect market sentiment.
Conclusion
The Sensex fell 350 points and the Nifty hovered around 19,550 today. The drop was due to market cues and Wipro’s 3% stock drop. Only IndusInd Bank and HCLTech held onto their positions as the 30-share Sensex, a major barometer of India’s stock market, fell. Few stocks in the Nifty 50 index traded positively. The Nifty Midcap 50 fell 0.97% and the Nifty Next 50 fell 0.94%. Sectoral reductions were greatest in Nifty Metal, at 1.76%. Hindustan Unilever, ITC, Ultratech Cement, and Nestle India are expected to publish Q2 earnings today, and investors are eagerly expecting them.
