MARKET UPDATE: Sensex was up 150 points at 61,200 and the Nifty50 index was below 18,250
Published On: Thursday, December 22, 2022 | By: Team KnowMyStock
Bulls and bears were fighting on Dalal Street today (22 December 2022) as fears of a global slowdown amid Covid-19 fears in China and likely recession in the US and Europe weighed on cyclical sectors. Defensives like pharma and IT, however, lent support. sector-wise Autos, financials, metals, and realty stocks led the losses with nearly 1 percent cut each on their respective sectoral indices. The S&P BSE Sensex was up 150 points at 61,200, while the Nifty50 index was below 18,250.
Tata Motors, Bajaj Finserv, Axis Bank, M&M, IndusInd Bank, NTPC, L&T, Titan, and Nestle India were among the top laggards on the Sensex, down up to 1.6 per cent. Sun Pharma, Infosys, Bharti Airtel, HCL Tech, and Ultratech Cement, meanwhile, held gains.
In the broader markets, the BSE MidCap index fell 0.6 per cent, while the SmallCap index dropped over 1 per cent.
Among individual stocks, shares of Reliance Industries were wee bit in red amid market weakness. The retail arm Reliance Retail acquired a complete stake in METRO Cash & Carry India for Rs 2,850 crore.
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