Stock Market Updates: Sensex Down 100 pts, Nifty Opens Below 18,200; Zomato Falls 3%

Sensex Today: Benchmark S&P BSE Sensex and Nifty50 indices began on a cautious note on Tuesday after markets in the Asia-Pacific commenced the first trading week for the year with sharp losses. The S&P BSE Sensex quoted at 61,074, down 94 points or 0.15 per cent, while the Nifty50 was below 18,200 level.

Axis Bank, Kotak Bank, IndusInd Bank, SBI, Tata Motors, UPL, PowerGrid, and HDFC Life were the top Nifty50 gainers as they rose up to 0.6 per cent. On the flipside, Britannia, Reliance Industries, Hindalco, Hero MotoCorp, HUL, SBI Life, and HCL Tech, which fell in the range of 0.4 per cent to 0.6 per cent, weighed on the index.

In the broader markets, the BSE MidCap and SmallCap indices outperformed the mainstream indices by rising up to 0.3 per cent.

Further, among key sectoral trends, the Nifty PSU Bank index (up 0.7 per cent) was the top performing index in today’s trade, while the Nifty Pharma index fell the most, down 0.25 per cent.

Individually, shares of Reliance Industries, ONGC, and Oil India fell 0.5 per cent each after the government hiked windfall tax on crude oil to Rs 2,100 per tonne from Rs 1,700 with effect from January 3. Export tax on diesel rose to Rs 7.5 per litre.

That apart, shares of Zomato declined 2.5 per cent after its co-founder and chief technology officer Gunjan Patidar quit the food aggregator platform.

Global Cues

In Australia, the S&P/ASX 200 fell 1.64 per cent on its first trading session of 2023, while South Korea’s Kospi dipped 1.9 per cent. Hong Kong’s Hang Seng index slipped 1.15 per cent, while the Shanghai Composite in mainland China fell 0.44 per cent. Markets in Japan and New Zealand are closed for public holidays Tuesday.

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