The Indian stock market opened with a fall in trading on Friday amid unfavorable global sentiment. At 09:16 IST, the Sensex was down 373.53 points or 0.70 per cent at 52645.41, and nifty It had closed at 15659.60, down 120.70 points or 0.76 percent.
However, the benchmark indices later pared some losses supported by a correction in IT stocks as the rupee hit the 79/$ mark for the first time in history.
top gainers and losers
Among the Sensex-30 stocks, TCS, Tech M, Infosys, Wipro and PowerGrid were the only stocks in the green. BPCL, Shree Cement, HDFC Life, UPL and Hero MotoCorp were additional winners on Nifty.
Meanwhile, Titan, M&M, Maruti, Kotak Bank, Dr Reddy’s, HDFC, Tata Motors and Bajaj Auto, were the top losers in the two benchmarks.
The broader markets also opened on a negative note with BSE Midcap and Smallcap indices falling up to 1.3 per cent.
Sector-wise, Nifty Bank, Financial, Auto, Pharma and Consumer Durables were the weakest. While energy and realty pockets were in the green.
In shares, Asian Paints crude slipped 1.2 per cent to $115 a barrel after OPEC+ assured production increases from August.
VK Vijayakumar, chief investment strategist at Geojit Financial Services, said: “The H1 benchmark of 2022 has ended with the S&P 500 correcting sharply by 21 per cent – the worst half since 1970. This weakness has hit other markets as well. but it is important to appreciate the fact that India Nifty has outperformed with correction only around 9 per cent. With the economy indicating a “gradual recovery despite global adverse conditions” (RBI), the prospects for H2 look better for the markets. Leading indicators suggest improvement in prospects for banking, IT, telecom and auto. The stock price movement in the near term in July will be in anticipation of better-than-expected Q2 results in these segments. Metal stocks are likely to move lower to absorb the poor Q1 results. ,
global signal
Bonds slipped, the dollar edged up and Asia’s stock markets started a volatile second half on Friday, as investors increasingly panic about the global economic outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, with trade falling due to a holiday in Hong Kong.
Shares in Tokyo fell into negative territory in early trading on Friday after tracking the fall on Wall Street. The benchmark Nikkei 225 index fell 0.37 per cent, or 97.27 points, to 26,295.77 yen in early trade.
Wall Street ended lower on Thursday, crossing the finish line of a grim month and quarter, a disappointing coda for the S&P 500, the worst first half in more than half a century. All three major US stock indexes ended the month and second quarter in negative territory, with the S&P 500 recording its sharpest decline in the first half since 1970.
read all breaking news , today’s fresh news watch top videos And live TV Here.