Last Updated: May 18, 2023, 16:16 IST
Sensex Today: The benchmark indices extended losses for the third straight trading session on Thursday, partly weighed down by profit-taking and weekly Nifty expiry. The selling intensified in late deals, after index heavyweights SBI and ITC announced Q4 results.
The S&P BSE Sensex, which, rallied to a high of 61,956 dropped to a low of 61,349 in latter half of the trading session. The BSE benchmark eventually ended the day with a loss of 129 points at 61,432. In the process, the 30-share index has declined 914 points in the last three straight days.
The NSE Nifty 50 declined from a high of 18,297, to a low of 18,105, before signing off the day at 18,130 – down 52 points.
SBI was the major loser among the Sensex 30 stocks, it slipped over 2 per cent even as the PSU Bank reported a strong 83.2 per cent YoY growth in Q4FY23 net profit at Rs 16,695 crore.
Similarly, ITC was down nearly 2 per cent after posting 21 per cent YoY growth in Q4 standalone net profit at Rs 5,086.90 crore. Titan, Mahindra & Mahindra, PowerGrid Corporation, Larsen & Toubro, Tata Motors, Hindustan Unilever and UltraTech Cement were the other major losers.
In the broader market, the BSE Midcap index shed 0.7 per cent, while the Smallcap index was down 0.3 per cent.
US President Joe Biden and congressional leaders are close to striking a deal to raise the US debt ceiling, as per reports. This could be done as soon as the end of the week.
US markets gained overnight. The Nasdaq closed 1.28 per cent higher. The Dow Jones gained 1.24 per cent and the S&P 500 rose 1.19 per cent.
Asian indices also mirrored gains this morning with Nikkei, Hang Seng, Strait times and Kospi rising 0.5-1.5 per cent.