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Share Maket closes with red mark, Nifty down by 58 points

Share market Closing: The Nifty today opened with a red mark and traded in a narrow range throughout the day. It closed at 18089, down 58 points. Sector-wise, it was mixed day, with FMCG being the major gainer. Sectors such as Aviation, FMCG Cement, Paints, and Tires saw decent gains, benefiting from the fall in […]

Edited By : Aditya Singh | Updated: May 4, 2023 13:52 IST
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Share market Closing: The Nifty today opened with a red mark and traded in a narrow range throughout the day. It closed at 18089, down 58 points. Sector-wise, it was mixed day, with FMCG being the major gainer. Sectors such as Aviation, FMCG Cement, Paints, and Tires saw decent gains, benefiting from the fall in oil prices.

For now, investors await the outcome of the US Fed policy meeting, which will provide some insight into future rate cycles. Domestically, the market structure remains positive on the back of strong macro data, strong earnings and FII buying in the last few days. Many PSU stocks from sectors like railways, defense, and capital goods are in strong movement in last few days.

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Sensex and Nifty

India’s benchmark Sensex fell 0.26 percent or 161 points to close at 61193.30 points, while the Nifty50 index fell 0.32 percent or 57.80 points to close at 18089.85 points. Nifty IT, Metal, and PSU indices declined nearly 1 percent each while Nifty FMCG and Realty gained 0.8 percent and 0.3 percent, respectively.

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What happened in the global stock market today?

On the global front, Asian markets closed mostly lower on Wednesday as investors awaited overnight US Federal Reserve’s policy decision. Trading led by energy, industrials, healthcare and IT declined the most in the last hour. Markets in Japan and China were closed today for a holiday.

Read More :- Latest Business News

First published on: May 03, 2023 05:18 PM IST

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