Sensex Today: The S&P BSE Sensex, and the Nifty50 indices continued their downward trajectory on Thursday, primarily driven by a decline in financial stocks.
The Sensex was trading 800 points lower at 72,650 levels while Nifty50 was down 250 points at 22,040 levels.
On BSE, M&M, Tata Motors, HCL Tech, Infosys, and Maruti Suzuki were among the top gainers, while L&T, ITC, JSW Steel, Bajaj twins, IndusInd Bank, Reliance Industries, ICICI Bank, and HDFC Bank were the top losers.
Broader markets also continued its downward trajectory as Nifty SmallCap dropped 1 per cent and MidCap fell 0.5 per cent.
Sectorally, Nifty Auto led with 1.7 per cent gain. However, Oil & Gas index fell the most, dropping 1.55 per cent.
A major trend in the market now is the aggressive selling by FIIs, which has touched to Rs 15863 crores so far this month. Though DIIs are buying they are not as aggressive as they were due to some concerns surrounding election results. For long-term investors, this is an opportunity to buy high quality large caps driven down by FII selling. Previous episodes of FII selling turned out to be good buying opportunities.
Global Cues
Across the Asia-Pacific region, markets are displaying mixed sentiment ahead of China’s April trade figures and Japan’s pay statistics.
Japan’s Nikkei saw a modest uptick of 0.26 per cent, while Korea’s Kospi remained largely unchanged. However, Australia’s ASX200 declined by over 0.55 per cent.
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