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Sensex drops 183 points, Nifty closes below 24,250 as IT stocks drag
Indian equity benchmarks ended lower on Wednesday, with the Sensex falling 183 points and the Nifty closing below the 24,250 mark, dragged by IT stocks. Despite the decline, cement shares advanced and several stocks like TVS Motor hit 52-week highs, showing selective strength. The market wrap highlights Kotak Bank and Power Grid among the top gainers and losers, reflecting mixed sectoral performance.
Global wheat output expected to decline 24 million tonnes
The global wheat production is projected to decrease by approximately 24 million tonnes due to the Iran conflict and El Niño effects.
Nifty sinks below 23,700 as crude spike, Fed fears hammer IT stocks
Indian equity benchmarks extended losses, with the Nifty trading below 23,700 in early trade as a surge in crude oil above $97 and rising Fed rate-hike bets weighed on sentiment. IT and realty stocks led the decline, though breadth turned positive and defence stocks rallied on a ₹1.10 lakh crore approval. Analysts remain bearish on Nifty futures, advising to hold short positions.
Nifty holds above 23,900 as metal stocks gain 1.07%
Nifty reclaimed 24,000 earlier but has since settled above 23,900, trading in positive terrain with metal shares leading gains (Nifty Metal up 1.07%). Smallcap index hit a record high, while September futures trade at a premium, indicating mild bullish sentiment. European markets are flat, keeping global cues subdued.
Dividend stocks attract investors amid market rout
Market rout brings dividend stocks in limelight: Time to switch? Dividend stocks aren't immune to market-wide sell-offs, but their yields create a natural floor for the stock price. As the price drops, the yield rises, which naturally brings in value investors. Listen to This Article The latest bout of selling in Indian equities has put dividend-paying stocks as one potential avenue for investors seeking income as market volatility rises.
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Sensex Today | Stock Market LIVE Updates: Nifty bulls look for a bounce from oversold levels amidst IPO fury
New: Sensex Today | Stock Market LIVE Updates: Nifty bulls look for a bounce from oversold levels amidst IPO fury