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Stock Market Updates: Sensex Down 150 pts, Nifty Below 20,200; PSU Bank Index Jumps 4%

Last Updated: September 18, 2023, 14:55 IST

Sensex Today: Domestic equity markets were trading on a jittery note on Monday amid weak cues from their global counterparts. The S&P BSE Sensex, which started over 250 points down, was hovering less than 100 points lower at 67,775.

The NSE Nifty 50, on the other hand, was testing the 20,200 level.

Among individual stocks, Infosys, HDFC Bank, Ultratech Cement, Tech M, Kotak Bank, Reliance Industries, HCL Tech, Bharti Airtel, Wipro, ICICI Bank, and Axis Bank were the major laggards.

Broader indices, were outperforming with the BSE MidCap and SmallCap indidices up 0.02 per cent and 0.03 per cent, respectively.

The volatility index, India VIX, gained 2.5 per cent.

Among sectors, the Nifty PSU Bank index zoomed 4 per cent, followed by the Nifty Auto index (up 1 per cent).

Global Cues

On Friday, the US market ended with significant losses as Treasury yields rose another 3 bps to 4.32 per cent ahead of the Fed meeting. Dow Jone slipped 0.8 per cent, while the S&P 500 and Nasdaq cracked 1.2 per cent and 1.6 per cent, respectively.

Asian shares started cautiously on Monday in a week packed with central bank meetings that include the Federal Reserve and the Bank of Japan, which will be closely scrutinised for the global interest rate outlook.

The US dollar and most major currencies were flatlining in early trades on Monday, barring a blip in sterling, as a Japanese holiday and a bunch of upcoming central bank meetings sucked the air out of markets.

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