Tue. Jul 26th, 2022

Stock Market Today: Sensex slips around 300 points in early trade, Nifty dips below 15,700-mark

Share Market Today News, Sensex, Nifty, Share Prices Updates, 1 July 2022: At 9:22 am, the S&P BSE Sensex slipped 295.25 points (0.56 per cent) to 52,723.69 while the Nifty 50 was at 15,687.10, down 93.15 points (0.59 per cent).Stock Market Today, Share Market Updates: 

The benchmark equity indices on the BSE and National Stock Exchange opened over 0.5 per cent lower on Friday

At 9:22 am, the S&P BSE Sensex slipped 295.25 points (0.56 per cent) to 52,723.69 while the Nifty 50 was at 15,687.10, down 93.15 points (0.59 per cent).

On the Sensex pack, Titan Company, Dr. Reddy’s Laboratories, HDFC, Bharti Airtel, Kotak Mahindra Bank and HDFC Bank were the top laggards in the early trade while Asian Paints, Bajaj Finserv, Tech Mahindra, Tata Steel, ITC and Power Grid were in the green.https://0c0bd8ccde4e6215bfb50de53e70661b.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

“With the economy showing signs of “gradual recovery despite global headwinds” (RBI), the prospects for H2 appear better for markets. Leading indicators suggest improving prospects for banking, IT, telecom and autos. Stock price movements in the near-term in July will be in anticipation of better-than-expected Q2 results in these segments. Metals stocks are likely to bottom out absorbing the poor Q1 results,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global market

Asian benchmarks were mostly lower on Friday, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy. Recent data suggest global growth is slowing as countries grapple with renewed waves of coronavirus outbreaks, soaring prices and the war in Ukraine.

Japan’s benchmark Nikkei 225 dropped 0.8 per cent to 26,175.78. Australia’s S&P/ASX 200 edged up 0.2 per cent to 6,580.90. South Korea’s Kospi lost 0.4 per cent to 2,322.55. The Shanghai Composite rose 0.2 per cent to 3,403.85. Hong Kong’s markets were closed for a holiday.

On Thursday, Wall Street closed out its worst quarter since the onset of the pandemic in early 2020. It was the worst first half since the first six months of 1970.

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