FINAL TRADE: RIL, HDFC duo drag markets lower; Sensex drops 413 points, Nifty ends at 18,286.50
The benchmark indices ended 0.6 per cent lower on May 16, 2023, amid selling in heavyweights such as HDFC Bank, HDFC, and Reliance Industries (RIL). At close, the S&P BSE Sensex stood at 61,932.47, down 413.24 points, or 0.66 per cent while NSE's Nifty ended at 18,286.50, down 112 points, or 0.61 per cent. "The domestic benchmark's ascent towards record high was interrupted by selling pressure in heavyweight stocks, although small and mid-cap stocks outperformed. As anticipated, the Eurozone economy experienced modest growth of 0.1% QoQ in the Jan-Mar period, following a stagnant previous quarter. In the US market, cautious trading prevailed as debt-ceiling negotiations took precedence," says Vinod Nair, Head of Research at Geojit Financial Services.
Bajaj Finance (up 1 per cent) emerged as the top gainer on the index, followed by NTPC, and State Bank of India (SBI). The S&P BSE MidCap index ended 0.18 per cent higher at 26,371.28 while the S&P BSE SmallCap index settled at 29,798.94, up 0.12 per cent.
BUZZING STOCKS
Indian Oil Corporation (IOC) gained over 3 per cent to Rs 87 apiece on the BSE after it reported a 55 per cent rise in its consolidated net profit at Rs 10,289.82 crore. Bank of Baroda ended over 1 per cent higher at Rs186.35 apiece on the BSE after March quarter numbers. HDFC Bank and HDFC ended slipped up to 2.21 per cent in the trade. The stocks traded ex-dividend today.
GLOBAL MARKETS
Global shares edged up on Tuesday, while the dollar eased back from five-week highs as US lawmakers prepared for another round of talks to resolve the deadlock over the government’s borrowing limit. The weaker dollar supported crude oil and equities, although investors were wary of crucial US government debt-ceiling negotiations, with a little more than two weeks to go before the government could run short of money to pay its bills.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:14 PM IST