MARKET UPDATE: Sensex dropped 400 points to trade at 58,769 levels and the Nifty50 declined 100 points to trade below 17,550 levels


Published On: Wednesday, September 7, 2022 | By:

MARKET UPDATE:  Sensex dropped 400 points to trade at 58,769 levels and the Nifty50 declined 100 points to trade below 17,550 levels

Opening Bell: Indian markets opened weak in today's (7 September 2022) trade amidst dull global cues. Frontline indices Nifty50 declined 100 points to trade below 17,550 levels and the S&P BSE Sensex dropped 400 points to trade at 58,769 levels. Broader markets, however, outperformed benchmark indices as Nifty Midcap 100 and Nifty Smallcap 100 gained up to 0.2 percent. While Bharti Airtel, IndusInd Bank, and HDFC pulled the indices down; HUL, Dr. Reddy's, and Nestle India helped trim losses. All sectors plunged in a sea of red with Nifty IT, Nifty Bank, and Nifty Realty indices battered in trade. Among individual stocks, shares of Paras Defence gained 3 percent after the company inked a pact with Czech Republic's ELDIS Pardubice.

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