Sensex and Nifty50 Experience Dip as Metal, IT, and Banking Sectors See Decline in Morning Trade

Metal, IT and banking stocks declined in the first half of trade on Thursday, amid negative cues from global markets.

With Sensex at 61,571 points and Nifty50 at 18,219 points, both benchmark indices were down 0.3%.

Sensex and Nifty50 gainers and losers

The markets closed in the red on Wednesday, tracking weak global trends.

Crude oil prices edged up, with Brent crude hovering at $78, while gold prices declined to 59,800 per 10 grams. Silver prices rose to 71,000 per kilogram. Gold prices decreased to 59,800 per 10 grams and silver to 71,000 per kilogram.

Markets are affected by the US debt ceiling deadlock

The Dow Jones fell 0.77% on Wednesday, while the S&P 500 fell 0.73%. The tech-heavy Nasdaq lost 0.61%.

Hang Seng fell 1.96%, Shanghai Composite fell 0.58%, and KOSPI was down 0.36%. Taiwan Weighted gained 0.64%, while Nikkei 225 gained 0.54%.

Watch out for these stocks

LIC of India reported a six-fold increase in standalone net profit YoY to 13,428 crore in Q4. A final dividend of 3 per share is recommended.

As reported by Nykaa, FSN E-Commerce reported a 34% YoY revenue increase of ₹1,302 crore, while net profit fell 72% to ₹2.4 crore.

In partnership with Adobe, Infosys will create over 10,000 new Adobe-certified experts by 2025.

Announcing a $10 billion investment in Vietnam, Adani Ports & SEZ plans to invest $3 billion in ports, wind and solar power.

Here are today’s earnings: Zee Entertainment, Bharat Dynamics, Emami, General Insurance Corporation of India, Indian Railway Finance Corporation, Vodafone Idea, Steel Authority of India, and Page Industries.

Also Read:

• India’s top 100 stocks, the five most popular stocks have delivered double-digit returns, according to analysts
• Adani Enterprises jumps 11% as all group stocks surge – Adani group’s combined market cap increases by over 82,000 crore in two days
• Top 4 Stocks to Watch out for on May 16
• China eases energy controls, but glimmer of hope in Chinese industrial metal stocks fades as Shanghai goes into lockdown
• Steel stocks recover, demand-supply favor Indian companies