Stock Market Today 22 June, 2023:

Stock Market Today: A sell-off after reaching record highs and bearish signals from the US central bank led to a decline in the domestic market on Thursday. Both the major domestic indices BSE Sensex and NSE Nifty are in the red as they open. There is a possibility of softness in the domestic market in today’s business.

Loss on initial trade

BSE’s 30-share index Sensex fell over 70 points to close below 63,500 points when the market opened at 09:15 am. At the same time, the Nifty also fell below the 18,850-point level with a marginal decline. Early trading trends indicate that today may turn out to be a bad day for the market.

The Sensex touched a fresh high of 63,601.7 for the second day in a row before trading in the red mark. The Nifty 50 index opened at 18,853 before falling to 18,830.

This is how Sensex companies started

In early trading, shares of most companies in the Sensex fell. At 09:20 am, only 8 out of 30 Sensex companies were in the green zone, while 22 companies started trading in losses. Major stocks like Tata Steel, Mahindra & Mahindra, ICICI Bank and Reliance are seeing gains in today’s opening trade. On the other hand, IT stocks like Infosys, Tech Mahindra, HCL Tech, Wipro and banking-finance stocks like Bajaj Finance, Kotak Bank, Axis Bank are in losses.

The situation in the US is deteriorating

The US saw a third consecutive day of profit booking yesterday. The Nasdaq slipped about 1.25 percent. US markets closed with losses yesterday. The Dow Jones closed down 102 points. While the Nasdaq closed down about 1.25%. And the S&P 500 index closed down 0.52%. Inflation in Britain held steady at 8.7% in May.

AMD stock closed down 5.7% yesterday. While AMD continued to decline for the second week in a row. AMD stock is down nearly 11% in 2 weeks, while AMD has seen a decline since climbing 50% in May. FedEx is trying to cut costs. FedEx will land 29 more planes. FedEx has already laid off 29,000.

Movement of Asian markets

Meanwhile, Asian markets are witnessing mixed business today. The SGX Nifty was down 41.00 points. At the same time, the Nikkei is trading almost flat. At the same time, the straight times showed a weakness of 0.24 percent. At the same time, the Kospi is trading at the level of 2,593.73 with an increase of 0.43 percent.

Statistics of FIIs-DII

Cash market witnessed buying by foreign and domestic investors on Wednesday. Foreign institutional investors yesterday in the cash market poured in Rs. 4013 crore worth of shares were purchased. While domestic institutional investors have invested Rs. 550 crore has been purchased.

Shares covered by F&O restrictions

6 stocks Punjab National Bank, BHEL, Delta Corp, Hindustan Aeronautics, Hindustan Copper and L&T Finance Holdings are under F&O ban on NSE on 22nd June. Let us tell you that if the position in the securities exceeds their market wide position limit, the stocks included in the F&O segment are placed in the restricted category.

How was the market on June 21st?

On June 21, the market closed at a record high. The market has been very volatile. The market was supported the most by power, oil and gas and IT stocks. At the close of trade, the Sensex rose 195.45 points or 0.31 percent to 63523.15 and the Nifty gained 40.10 points or 0.21 percent to 18,856.80. Around 1672 shares rose in yesterday’s trade. At the same time, 1750 shares were reduced. While there was no change in 118 stocks.