MARKET UPDATE: Sensex dropped over 500 points to trade at 56,579 levels, while Nifty50 declined over 100 points to trade below 16,900 levels
Published On: Wednesday, September 28, 2022 | By: Team KnowMyStock
Opening Bell: Weak foreign flows, tepid global sentiments, and hopes of tighter monetary policy drove Indian equity markets lower today (28 September 2022) morning. Key indices Nifty50 declined over 100 points to trade below 16,900 levels and the S&P BSE Sensex dropped over 500 points to trade at 56,579 levels. The muted risk appetite among investors also kept broader markets in negative territory as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped in the range of 0.6 to 0.7 percent. Likewise, all sectors started to trade in a bearish tone. Nifty Auto, Nifty Metal, and Nifty Bank indices faced the biggest fall as they declined over 1 percent each.
While Dr Reddy's, Sun Pharma, Wipro, Infosys, attempted to trim losses for the benchmark indices; HDFC Twins, Reliance Industries, ITC, IndusInd Bank weighed the indices down.
Among individual stocks, shares of Dr Reddy's gained over 1 per cent after the pharma giant received USFDA nod to market Timolol Maleate, which is used to treat Glaucoma.
Besides, shares of Motherson Sumi Wiring India soared over 6 per cent as board plans to mull bonus shares on Friday, September 30.
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