Finance
Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices experienced a negative closing value. The BSE Sensex dropped 1,628 points, or 2.23%, to close at 71,500.76, while the NSE Nifty 50 closed 460.35 points, or 2.09% lower, at 21,571.95. Large- and mid-cap equities led the losses as the wider indices ended the day down. The Bank Nifty index ended the day at 47,151.55, down 2,060.65 points, or 4.28%.
HCL Tech, SBI Life, LTIMindtree, Infosys, and TCS were the top gainers in the Nifty 50. While HDFC Bank, Tata Steel, Kotak Mahindra, Axis Bank, and Hindalco were the top laggards in the Nifty 50.
Life Insurance Corporation of India, a government-owned insurance giant, has regained its status as the most valued public sector undertaking, surpassing the market capitalization of State Bank of India.
While SBI holds a market value of Rs 5.63 lakh crore, LIC has surpassed it with a market capitalization (MCap) of Rs 5.64 lakh crore. As of 9:30 am, the SBI stock witnessed a 1.5 percent decline to Rs 624, whereas LIC traded at Rs 896 on the BSE, showing a 0.2 percent increase. Concurrently, the benchmark BSE Sensex experienced a 1.02 percent loss, settling at 72,386 points.
Shares in the Asia-Pacific region are trading in mixed territory on Wednesday morning. The Asia Dow is trading down by 0.84%, Japan’s Nikkei 225 is green, up by 1.29%, Hong Kong’s Hang Seng index is trading down by 2.16% and the benchmark Chinese index Shanghai Composite is trading higher by 0.27%.
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down by 0.01% at 103.35.
U.S. bond yields rose and stocks fell on speculation that Wall Street’s bets on aggressive Federal Reserve rate cuts have gone too far, Bloomberg reported. The tech-heavy Nasdaq Composite dropped by 28.41 points or 0.19% at 14,944.35. The S&P 500 plunged by 17.85 points or 0.37% at 4,765.98, while the Dow Jones Industrial Average trading down by 231.86 points or 0.62% at 37,261.12.
Source:FE
