Sensex down by 10.35 points, Nifty sheds 21 points

Mumbai: Indian stock markets’ key indices, Sensex and Nifty, opened with minor cuts on Thursday amid subdued global sentiment. The BSE Sensex fell by 10.35 points or 0.02 per cent to 55,370.82 at 9.37 am while the Nifty 50 shed 21.10 points or 0.13 per cent to 16,501.70 in morning trades. Among the Nifty-50 shares, […]

Mumbai: Indian stock markets’ key indices, Sensex and Nifty, opened with minor cuts on Thursday amid subdued global sentiment.

The BSE Sensex fell by 10.35 points or 0.02 per cent to 55,370.82 at 9.37 am while the Nifty 50 shed 21.10 points or 0.13 per cent to 16,501.70 in morning trades.

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Among the Nifty-50 shares, Asian Paints, Tata Steel, Reliance, TCS and JSW were the top laggards. TCS was trading at 3,411.25, up by 56.05 points at 9.37 am, whereas Asian Paints was down by 1.70 points at 2,850.80.

Meanwhile, Apollo Hospitals, Hero Motocorp Power Grid Corp, SBI Life Insurance and HDFC Life were the additional losers on the Nifty. Apollo Hospital slipped by 124 points and was trading at 3,715.00 at 9.37 am, while HDFC Life was down by 8.75 points.

However, among the Sensex-30 shares, HUL, ITC, HDFC twins, Nestle and NTPC were the top gainers at the same time.

Notably, this is the third consecutive day of decline in the benchmark index.

On Wednesday, the 30 stock S&P BSE Sensex slumped 185.24 points or 0.33 per cent to 55,381.17 points against that of Tuesday’s close at 55,566.41 points.

The markets witnessed volatile trading yesterday. The Sensex started the day in the positive at 55,588.27 points and rose to a high of 55,791.49 points in the morning session on Wednesday. The Sensex slipped into the red within an hour of the market opening. However, it again bounced back. The index came under heavy selling pressure towards the end of the trading session. The index slumped to a low of 55,091.43 points in the intra-day.

Meanwhile, India’s gross domestic product (GDP) growth slowed to 4.1 per cent in January-March 2022 period, while for the full year 2021-22 the growth stood at 8.7 per cent, according to the government data released on Tuesday.

GDP at constant (2011-12) prices in Q4 2021-22 is estimated at Rs 40.78 lakh crore, as against Rs 39.18 lakh crore in Q4 2020-21, showing a growth of 4.1 per cent, as per the National Statistical Office (NSO) data.

India’s GDP growth has slowed for the third straight quarter.

Despite the downward revisions, India remains the fastest growing economy in the world, Chief Economic Advisor V Anantha Nageswaran said on Tuesday.