The pharma sector is the only sector whose shares are seeing gains in the rest of the sector due to the fall in the market. While shares in banking, IT, auto, FMCG, energy, metals, media, real estate sectors are seeing profit recovery. Out of the 50 Nifty stocks, 19 are trading in the green, while the remaining 31 are down. On the other hand, out of 30 Sensex stocks, 9 are trading only higher, while the remaining 21 are down. Due to this decline in the market, the market cap of shares listed on BSE has reached the level of Rs 283 lakh crore.
Which shares are active?
The government will sell 1.55 percent stake in the giant private bank Axis Bank. This will keep the stock in the news for now, while investors who invested in Nykaa shares during the pre-IPO placement will sell as the lock-in period expires, which will see the stock come under pressure.
Shares of Sensex-Nifty
The stock market is witnessing a sell-off in early trading today. Heavyweight stocks are selling off. 22 stocks of Sensex 30 are in red. Today’s top gainers include Airtel, HUL, TCS, Kotak Bank and top losers include Axis Bank, Tech Mahindra, M&M, Maruti, Tata Steel.
American and Asian market conditions
Global cues for the domestic stock market are looking weak and major Asian markets are selling off in today’s trade. Meanwhile, the US market closed lower on Wednesday. The results of the midterm elections in the United States show uncertainty about who controls Congress. Brent crude continues to soften. Brent crude is trading at $93 per barrel. While US crude is 86 dollars per barrel. In the US, the 10-year bond yields 4.085 percent.