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HomeBusinessSensex Closes 185 pts Lower, Nifty Settles Below 16,500; Zomato, Paytm Gain...

Sensex Closes 185 pts Lower, Nifty Settles Below 16,500; Zomato, Paytm Gain 2%


The benchmark indices ended a volatile trading session on a negative note on Wednesday amid worsening geopolitical situation in Europe. Moreover, rising bond yields in the debt market also soured market mood. Against this backdrop, the BSE Sensex index fell 185 points, or 0.33 per cent, to end at 55,381 levels, while the Nifty50 index shut shop at 16,523, down 62 points or 0.37 per cent. Both the indices had touched intra-day lows of 55,091 and 16,439, respectively.

In the broader markets, the BSE MidCap index slipped 0.1 per cent, while the BSE SmallCap index added 0.62 per cent. Sectorally, the Nifty IT index slipped over 1 per cent on the NSE, while the Nifty PSU Bank index added 0.9 per cent.

Among stocks, Bharat Dynamics soared over 5 per cent after the company signed a contract with the defence ministry for building Astra Mark-1 beyond visual range air-to-air missiles (BVRAAMs) worth Rs 2,971 crores.

AU Small Finance Bank also rose over 1 per cent. The bank has fixed June 10 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus shares in the ratio of 1:1.

Vinod Nair, head of research at Geojit Financial Services, said: “Continuous rise in crude oil prices due to EU’s decision to partially ban Russian oil hindered global market. Indian economy registered a growth of 8.7 per cent in FY22 but is expected to slow down in FY23 to 7.2 per cent, as per the latest RBI forecast. Auto sales data, posted by major manufacturers, witnessed growth in passenger and commercial vehicle segments due to pick up in the construction sector however two-wheeler and tractor segments continued to remain under pressure.”

Global Cues

Stocks closed lower Tuesday and the market eked out a tiny gain for May, a fitting end to a tumultuous month as worries about a possible recession, inflation and rising interest rates bruised Wall Street. The S&P 500 fell 0.6 per cent, having recouped about half of its loss from earlier in the day. The Dow Jones Industrial Average fell 0.7 per cent, while the Nasdaq composite slid 0.4 per cent. Both also pared some of their losses after falling at least 1.4 per cent.

Tokyo stocks opened higher on Wednesday, shrugging off falls on Wall Street, with investors watching for key US data due this week. The benchmark Nikkei 225 index was up 0.18 per cent, or 49.61 points, at 27,329.41 in early trade, while the broader Topix index was up 0.32 per cent, or 6.19 points, at 1,918.86.

Hong Kong stocks fell at the start of trade Wednesday morning as traders eased back after a healthy run-up in recent sessions and following a negative lead from Wall Street. The Hang Seng Index fell 0.35 per cent, or 75.00 points to 21,340.20. The Shanghai Composite Index slipped 0.34 percent, or 10.93 points, to 3.175.50, while the Shenzhen Composite Index on China’s second exchange retreated 0.30 per cent, or 5.95 points, to 2,001.00.

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