Stock Market Highlights: Nifty ends below 17700, Sensex down 184 points, Realty and pharma shine.

Stock Market Highlights: Nifty ends below 17700, Sensex down 184 points, Realty and pharma shine.

Ira Singh
18th April’23

The Indian equity indices reversed early gains on Tuesday and ended in red with a fall of around 0.3%. IT and Banking sector experienced a volatile day. The indices ended in the red for the second day in a row after registering a 9-day rally.

At close,the Sensex was down 183.74 points, or 0.31 percent, to end at 59,727.01, and the Nifty was down 46.60 points, or 0.26 percent,at 17,660.20.

Asian markets mostly fell on Tuesday, even as data showed China’s economy grew 4.5% year-on-year for the first quarter, far more than expected in the first quarter after activity resumed following three years of painful zero-Covid measures, according to sources.

Stocks and Sectors

Top losers on the Nifty included Power Grid Corporation, UltraTech Cement, Adani Enterprises, Reliance Industries and Apollo Hospitals, while gainers were Divis Labs, HCL Technologies, IndusInd Bank, Cipla and Nestle India, according to reliable sources.

Among sectors, selling was seen in the FMCG, power and infra names, while pharma and realty were up a percent each and information technology, PSU Bank and metal each closed 0.5 percent higher.

The BSE midcap index rose 0.5 percent and the smallcap index added 0.2 percent, according to sources.

On 18thApril’23, rupee falls 3 paise to close at 82.04 against US dollar,tracking negative sentiments in the domestic equities market.