MARKET UPDATE: Sensex opened 44 points lower at 62,300, and the NSE Nifty50 unchanged at 18,394
Published On: Tuesday, May 16, 2023 | By: Team KnowMyStock
OPENING BELL: Indian equity benchmark indices opened flat today(16 May 2023) tracking mixed global cues. The BSE Sensex opened 44 points lower at 62,300, and the NSE Nifty50 was largely unchanged at 18,394. Tata Steel, Infosys, Wipro, and Nestle led gains on the Sensex, while ONGC, Hindalco, and Divi's Lab rose 1 percent each on the Nifty50. On the flip side, HDFC twins led losses on the Sensex, dropping 1 percent each. Tata Motors, Maruti, and M&M were other frontline losers. The broader markets outperformed benchmarks. The BSE MidCap and SmallCap indices rose up to 0.6 percent versus the nearly flat BSE Sensex.
Among stocks, ONGC, Oil India rose up to 2 percent after the government cut the windfall tax on petroleum crude to zero from Rs 4,100 ($50.13) per tonne.
PVR dropped over 2.5 percent on reporting a consolidated net loss of Rs 333.35 crore for Q4FY23 against a net loss of Rs 105.49 crore a year ago.
Sectorwise, Nifty Pharma, PSB, and Realty indices rose the most, up 0.7-1 percent, while the Financial pocket was weak.
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