Sensex snaps longest winning streak since 2007, falls 242 pts;Nifty below 20,150

Sensex snaps longest winning streak since 2007, falls 242 pts;Nifty below 20,150

Ira Singh
18 Sep’23

The Indian equity market indices took a breather from a record-setting run on Monday,as investors digested economic developments in China and looked ahead to policy decisions from top central banks, including the U.S. Federal Reserve.

At close,the Sensex was down 241.79 points or 0.36 percent at 67,596.84, and the Nifty ended at 20,133.30, down 59.05 points or 0.29 percent.

Stocks and Sectors

Titan Company, M&M, BPCL, HDFC Life and Power Grid Corporation were top gainers on the Nifty while losers included Hindalco Industries, Jio Financial, HDFC Bank, Bharti Airtel and Adani Ports.

On the sectoral front, the PSU Bank index gained 3.4 percent, power, auto and FMCG indices were up 0.5-.8 percent, realty and metal indices shed 1 percent each, while bank, IT, pharma and pharma were down 0.5 percent each.

The BSE midcap index fell 0.25 percent and Smallcap index was down 0.5 percent.

On 18 Sep’23,the Indian rupee depreciated 9 paise to close at all time weakest level of 83.27 against the U.S. dollar.

The market will remain shut on September 19 on account of Ganesh Chaturthi.

Experts Take:
Market experts have recommended four stocks to buy for Monday-Wipro, UPL, IPCA Lab and Maharashtra Scooters.