Stock Market Updates: Sensex Down 150 Points, Nifty Tests 23,100; BPCL Gains 2%
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Benchmark indices, Nifty50 and Sensex, were seen trading lower in early trade, tracking mixed cues.
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Benchmark indices, Nifty50 and Sensex, opened flat on Thursday, reacting to mixed cues from global markets.
The BSE Sensex started nearly 10 points higher at 76,414.52, while the Nifty50 slipped about 25 points to 23,128.30.
UltraTech Cement and HDFC Bank emerged as the top gainers on the BSE, while HUL and Nestle were the biggest laggards. Similarly, on the NSE, UltraTech Cement and Wipro led the gains, while HUL and Nestle saw losses.
The broader markets showed mixed trends. The Nifty SmallCap index dropped 0.17%, while the MidCap index traded 0.14% lower.
Sector-wise, the Nifty IT index was the top performer, up 1%, while the Nifty FMCG index was the biggest loser, down 1%.
Global Cues
Asian markets traded mixed on Thursday as investors reacted to various economic data from the region. In Australia, the ASX 200 fell 0.42%, while Japan’s Nikkei rose 0.5%, and the Topix gained 0.42%. South Korea’s Kospi dropped 0.96%, following a report showing the country’s economy grew by just 1.2% YoY in Q4, its slowest pace since Q2 2023. However, Hong Kong’s Hang Seng index climbed 0.75%, and China’s CSI 300 rose 1% at the open.
In Singapore, inflation data for December is expected soon, and the Bank of Japan is holding a policy meeting today and tomorrow, with Governor Kazuo Ueda hinting at a potential rate hike.
Overnight, the US stock market saw strong performance, with the S&P 500 hitting a fresh all-time high. The index rose 0.61%, reaching an intraday record of 6,100.81 before closing slightly lower at 6,086.37. The Nasdaq Composite surged 1.28% to 20,009.34, driven by gains in tech stocks like Oracle and Nvidia, fueled by optimism around artificial intelligence (AI). The Dow Jones Industrial Average also saw a modest gain, rising 130.92 points, or 0.3%, to close at 44,156.73.
Investors are now awaiting US Jobless claims data for the week ending January 18.
