Sensex Today: Sensex and Nifty50 indices continued their downward trajectory on Thursday, primarily driven by a decline in IT and FMCG stocks.
As of 10:24 AM, the Sensex was trading 488 points lower at 72,977.63 levels while Nifty50 was down 130 points at 22,164.05 levels.
On BSE, M&M, HCLTech were among the top gainers while L&T and Asian Paints were top losers.
Similarly, on NSE, Hero MotoCorp, Bajaj Auto were major gainers while L&T and HDFC Lifer were major laggards.
In the broader markets, Nifty MidCap dropped 0.12 per cent while SmallCap rose marginally.
Sectorally, Nifty Auto led with 1.24 per cent gain, closely followed by PSU Banks (up 1.01 per cent). However, FMCG fell the most, dropping 0.62 per cent.
A major trend in the market now is the aggressive selling by FIIs, which has touched to Rs 15863 crores so far this month. Though DIIs are buying they are not as aggressive as they were due to some concerns surrounding election results. For long-term investors, this is an opportunity to buy high quality large caps driven down by FII selling. Previous episodes of FII selling turned out to be good buying opportunities.
Global Cues
Across the Asia-Pacific region, markets are displaying mixed sentiment ahead of China’s April trade figures and Japan’s pay statistics.
Japan’s Nikkei saw a modest uptick of 0.26 per cent, while Korea’s Kospi remained largely unchanged. However, Australia’s ASX200 declined by over 0.55 per cent.
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