Market Closing: Sensex Drops 338 pts; Nifty Below 19,350; PSBs Outperform – News18


Last Updated: August 17, 2023, 15:47 IST

Sensex Today: Key benchmark indices settled lower on Thursday amid weak global cues and weekly F&O expiry. The S&P BSE Sensex shed 388 points to end at 65,151 level, while the NSE Nifty50 shut shop 100 points down at 19,365.

Both the indices closed about 0.6 per cent lower each on the back of selling in ITC (down 2 per cent), Nestle India, Power Grid, L&T, Kotak Bank, Reliance Industries, Tata Motors, Bajaj Finance, TCS, ICICI Bank, Infosys, and HDFC Bank.

Buying in Titan, SBI, Bajaj Finserv, Tech M, Tata Steel, and Axis Bank, however, helped the indices end off lows.

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices settled in the green with up to 0.2 per cent gains.

Sectorally, most of the indices nursed losses with the Nifty FMCG index suffering the hardest blow of 1 per cent, followed by the Nifty IT index (0.6 per cent). On the upside, only the Nifty PSU Bank index (up 1.5 per cent) outperformed the markets.

Global Cues

Tokyo shares opened lower on Thursday following losses on Wall Street as US Treasury bond yields surged to multi-year peaks.The benchmark Nikkei 225 index fell 0.46 percent, or 144.84 points, to 31,621.98, while the broader Topix index slipped 0.37 percent, or 8.33 points, to 2,252.51.

Wall Street ended lower on Wednesday after the Federal Reserve’s minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.

Oil prices fell in early trade on Thursday, extending losses to a fourth consecutive session on fears of slowing growth in China and possible further U.S. interest rate hikes weakening fuel demand in the world’s two biggest economies. Brent crude futures fell 37 cents, or 0.44%, to $83.08 a barrel, while U.S. West Texas Intermediate crude (WTI) was down 39 cents, or 0.49%, to $78.99 a barrel at 0038 GMT.


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