Home Business Sensex Opens 180 pts Lower, Nifty Below 17,300; Key Points

Sensex Opens 180 pts Lower, Nifty Below 17,300; Key Points

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Sensex Opens 180 pts Lower, Nifty Below 17,300; Key Points

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Stock Market Today: Sensex and Nifty started on a tepid note on Tuesday morning amid mixed global sentiments. At 09:16 IST, the Sensex was down 171.83 points or 0.30 per cent at 57943.67, and the Nifty was down 68.50 points or 0.40 per cent at 17271.50. Likewise, broader markets were under pressure too as Nifty Midcap 100 and Nifty Smallcap 100 declined 0.2 per cent and 0.1 per cent, respectively.

Sectorally, Nifty Metal index bled over 1 per cent in trade. However, Nifty FMCG and Nifty Media indices opened with marginal gains.

Among individual stocks, shares of ITC hit a 52-week high at Rs 314 per share after the conglomerate saw a 33.9 per cent year-on-year (YoY) jump in consolidated net profit to Rs 4,389.7 crore in Q1FY23.

Besides, shares of Zomato surged up to 5 per trade after the food aggregator’s consolidated loss contracted to Rs 186 crore in Q1FY23 from Rs 359 crore in Q1FY22.

Global Cues

Asia stocks continued a decline from Wall Street on Tuesday, and US long-term Treasury yields sank to a four-month low, pulling the US dollar down against the yen and other currencies as investors worried about the risk of global recession.

Tokyo shares opened lower on Tuesday following modest losses on Wall Street, where petroleum-linked shares retreated. The benchmark Nikkei 225 index fell 0.62 per cent, or 174.40 points, to 27,818.95 at the open, while the broader Topix index dropped 0.64 per cent, or 12.55 points, to 1,947.56.

Wall Street ended a three-day winning streak and crude prices plunged on Monday as economic data from the US, Europe, and China showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite.

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