Stock Market Today 23 June, 2023: Nifty Falls Below 18750, Sensex Falls 100 Pts

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Stock Market Today: The market is seeing selling pressure after making new record highs this week. Yesterday there was a break in the market’s 2-day fast. Early market trends indicated that both the major domestic indices BSE Sensex and NSE Nifty continued to bear losses today.

The Sensex was down 141.82 points or 0.22% at 63,097.07 and the Nifty was down 50.10 points or 0.27% at 18,721.20. About 1041 stocks advanced, 898 stocks declined and 110 stocks remained unchanged.

Asian Paints, ICICI Bank, Dr. Reddy’s Labs, L&T and JSW Steel were the top gainers on the Nifty, while Adani Enterprises, ONGC, Adani Ports, BPCL and Hindalco Industries were the top losers.

This is how Sensex companies started

In early trading, shares of most companies in the Sensex fell. At 09:20 AM, only 3 out of 30 Sensex stocks were in the green zone, while 27 stocks started trading in losses. Stocks like Tech Mahindra, Bajaj Finance, Tata Steel, UltraTech Cement, PowerGrid Corporation and Infosys fell in early trade today.

American market moves

US FUTURES are trading flat. US markets closed mixed yesterday. Here in Asia, the Nikkei slipped 1/4 percent. Markets in China and Taiwan are closed today. The S&P 500 index and the Nasdaq are up after three days of declines. The S&P 500 closed up 0.37%, while the Nasdaq gained nearly 1%. The Dow Jones closed flat yesterday.

US Federal Reserve Chairman Jerome Powell said that our focus is on how quickly we are making decisions. He said that to reduce inflation, help should be sought only by raising the interest rate. However, Powell also indicated that interest rate hikes will be slower than before and that we will make decisions based on data.

Will there be a recession in America?

Meanwhile, US Treasury Secretary Janet Yellen says that the economy is not going into recession. The threat of recession has been averted. Consumer spending has declined. The hope of reducing inflation has increased. On the other hand, the Bank of England has increased the interest rate. Interest rates have gone up by 0.50% to 5%. Interest rates are the highest since 2008.

Movement of Asian markets

Meanwhile, Asian markets are witnessing mixed business today. The SGX Nifty is down 18.50 points. At the same time, the Nikkei is seen around 32,722.33, down about 1.66 percent. At the same time, the straight times showed weakness of 0.64 percent. While the Hang Seng is seen at the level of 18,914.95 with a weakness of 1.58 percent. At the same time, the Kospi is trading down 0.73 percent.

Statistics of FIIs-DII

Thursday saw selling by foreign institutional investors while domestic investors bought. FIIs yesterday in cash market Rs. 693 crore shares were sold. Whereas, DII has spent Rs. 219 crore shares were bought.

Shares with F&O restriction

NSE has included RBL Bank in the list of F&O restricted stocks. BHEL, Hindustan Copper, L&T Finance and PNB are already on the list. Whereas, HAL and Delta Corp are out of this list.

How was the market on June 22?

Indian equity markets closed lower in a volatile session on June 22. The Sensex closed down 284.26 points, or 0.45 percent, at 63238.89 and the Nifty closed down 85.50 points, or 0.45 percent, at 18771.30. Around 1294 stocks saw gains today. At the same time, 2139 shares were seen to decline. While there was no change in 123 shares.