MARKET UPDATE: Sensex slipped 160 points to trade below 59,000-mark, whereas Nifty50 declined over 50 points to trade below 18,300 levels
Published On: Wednesday, May 24, 2023 | By: Team KnowMyStock
Opening Bell: Indian markets opened lower in today's(24 May 2023) trade in tune with the weak global cues. Frontline indices the S&P BSE Sensex slipped 160 points to trade below the 59,000 mark, whereas Nifty50 declined over 50 points to trade below 18,300 levels. Broader markets, meanwhile, exhibited mixed trends as Nifty Smallcap 100 index gained marginally over Nifty Midcap 100 index.
Sectorwise, Nifty Media, and Nifty Pharma indices marched forward in trade, up 0.4 per cent each. Nifty Bank, and Nifty IT indices, on the contrary, were subdued in trade.
Among individual stocks, shares of Shree Cement declined over 3 per cent after the company reported 20 per cent year-on-year (YoY) drop in consolidated net profit in Q4FY23.
In addition, shares of EIH gained over 1 per cent after the oberoi group company posted a 460 percent YoY leap in its consolidated net profit for the quarter ended March.
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