MARKET UPDATE: Sensex dropped by 400 points to 61,338 while the Nifty50 fell by 100 points to 18,150
Published On: Friday, May 5, 2023 | By: Team KnowMyStock
Opening Bell: Today (5 May 2023), equity benchmark indices opened with losses as the concerns over contagion in the regional banking space deepened on Wall Street overnight. The BSE Sensex dropped by 400 points to 61,338, and the NSE Nifty50 fell by 100 points to 18,150. The HDFC twins were the major losers on the Sensex, declining by 4%, followed by IndusInd Bank, HDFC Life, and Tata Steel. On the other hand, ICICI Bank, L&T, Axis Bank, Nestle, Ultratech Cement, and SBI were the top gainers on the Sensex. However, the broader markets opened higher, with the BSE MidCap and SmallCap indices rising by up to 0.3%.
In other news, Manappuram Finance shares plummeted by 10% after the ED (Enforcement Directorate) froze assets worth Rs. 143 crore belonging to the firm and its managing director VP Nandakumar following searches at six premises.
While the Nifty Financial index suffered the most significant loss, dropping over 1%, the PSB, FMCG, and auto sectors held gains of up to 0.5% despite the overall negative trend.
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
