Stock Market Closing-12th-July-2023 Update Profit-booking-it-banking-stocks-saw-selling

Stock Market Closing: After two days of gains, the Indian stock market closed lower on Wednesday’s session due to profit booking. The decline saw the Sensex fall 400 points from its high and the Nifty 125 points from its high. In today’s trade, the BSE Sensex closed down 223.94 points at 65,393.90 points while the National Stock Exchange Nifty closed down 55.10 points at 19,384.30 points.

Sensex falls 223.94 points to settle at 65,393.90; Nifty declines 55.10 points to 19,384.30

— Press Trust of India (@PTI_News) July 12, 2023

Sector status
In today’s trade, shares of Banking, IT, Metals, Energy and Consumer Durables sectors closed lower. While shares of Pharma, FMCG, Real Estate, Media Healthcare and Oil & Gas sectors closed higher. Small cap and mid cap stocks closed higher despite the fall in the market.

Increase in BSE market cap

BSE market cap has seen a surge in today’s trade despite the market falling. Stocks listed on BSE have a market cap of Rs. 301.61 lakh crore, while in the previous trading session the market cap was Rs. 301.31 lakh crores. That is, in today’s trade, the investor’s wealth is Rs. 30,000 crore has jumped.

Bullish stocks
Asian Paints closed up 0.48 percent, Sun Pharma 0.42 percent, Nestlé 0.39 percent higher in today’s trade. While Infosys closed down by 1.17 percent, Tata Motors by 1.15 percent, Ultratech Cement by 1.14 percent, HDFC Bank by 0.95 percent.

Top Losers

Top gain

Ups and downs in Sensex

How did the morning start?

Amid mixed global market signals, the Indian stock market opened on a bullish note today, the third trading day of the week (Wednesday). GIFT Nifty also opened flat today and was seen trading around the 19,500 level. The Sensex was up 149.65 points or 0.23% at 65,767.49 and the Nifty was up 50.20 points or 0.26% at 19,489.60. About 1447 stocks advanced, 482 stocks declined and 129 stocks remained unchanged. LTIMindtree, JSW Steel, ITC, ONGC and Titan Company were the top gainers in the Nifty, while IndusInd Bank, M&M, Maruti Suzuki, Dr. Reddy’s Labs and Cipla were the top losers.

Shares of online gaming companies take a beating
With the GST Council announcing a 28 percent GST for the online gaming industry, shares of online gaming companies have seen a sharp decline in the Indian stock market. Indian online gaming companies Nazara Technologies, OnMobile Global and Delta Corp recorded sharp declines. Shares of these online gaming companies are trading at a steep decline in the stock market on Wednesday.

How much has decreased in which company?

Shares of Nazara Technologies were down 14.2 percent and currently trade at Rs. 677.50 per share is trading. Shares of OnMobile Global fell 8.9 percent and are currently trading at Rs. is seen at 76.40. Shares of Delta Corp are witnessing the highest fall of 22.70 percent at Rs. 190.70 at the rate. Although Nazara Technologies has rallied 21.6 percent and Delta Corp has rallied 15.9 percent so far this year, today’s decline has washed away any previous gains.

Despite a positive opening, the stock market has broken from the upper levels. The BSE Sensex slipped nearly 330 points from its intraday high to settle at 65,811 during the trading day. But IT, metal and FMCG stocks are witnessing heavy losses due to sell-off. The index currently stands at 65,500. Similarly, Nifty is also falling and trading near 19,400. Infosys and Ultratech Cement are the top losers in the Nifty. Yesterday i.e. July 11, BSE Sensex rose 273 points to close at 65,617.

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