Share Market Today: NIFTY 50 Slips Down Below 23,700 and SENSEX Losing Over 300 Points

Share Market Update: SENSEX and NIFTY 50 Goes Red With Losses Incurred in Heavyweight Stocks

The Indian Stock Market indices Sensex and Nifty have been trading in red, with falls of more than 350 and 120 points, respectively, indicating significant losses in heavyweight stocks. 

The SENSEX closed at 78199.99 last session and is currently at an LTP of 77,820.33 while the NIFTY 50 closed at 23,707.90 and is trading at 23,584.88. Both showed a significant dip in their value from its closing price. Along with that the NIFTY IT and NIFTY Bank have also shown significant downfall in their stock prices this Wednesday. 

The government also has predicted India’s Real GDP Growth for FY25 to slow down to 6.4% from 8.2%. This is a slightly lesser estimation by the Ministry of Finance’s forecast of 6.5% and RBI’s estimate of 6.6%. Many experts have expected this growth figure to be revised even lower in the final estimation during the Union budget.

The Global Market sentiment has been weak with Wall Street closing low and the Asian market following suit due to a stronger US currency and rising bond yields. Moreover, the growing US job openings have faded the hopes for the significant rate cut by the US Federal Reserve causing the investor a sense of uncertainty. Another sense of caution also prevails ahead of the Q3 earnings report as analysts predict only a gradual recovery in Q4. Lastly, there have been immense capital outflows as FPIs have been selling Indian Equities worth over Rs 8500 crore in January.

Irrespective of the losses, some firms have made significant profits. Let's check out the share market live updates in detail with the numbers to have better clarity on the stocks that have added to the modest gains in the indices. 

Oil and Natural Gas Corporation Ltd.

Reliance Industries Ltd.

Dr Reddys Laboratories Ltd.

Other Stocks That Have a Contribution to Pulling the Indices Up

Other stocks that have seen a modest surge in stock price are Asian Paints, ITC, BPCL, Bajaj Finserv, Maruti Suzuki, Coal India, TCS, Airtel, etc. The most active stocks as of today are ITI, Reliance, Aegis Logistics, CreditAccess Grameen Ltd, etc.