Stock Market Updates: Sensex Down 100 pts, Nifty Near 18,250; LIC Up 3%, Nykaa Drops 2%

Sensex Today: Sensex and Nifty opened on a negative note ahead of weekly F&O expiry. Frontline indices the S&P BSE Sensex traded flat at 61,716 levels, whereas Nifty50 traded below 18,300 levels.

Broader markets, meanwhile, outperformed benchmark indices as Nifty Midcap 100, and Nifty Smallcap 100 indices slipped up to 0.2 per cent. Volatility index, India VIX, declined over 2 per cent.

Sectorally, Nifty FMCG, and Nifty Realty indices marched forward in trade, gaining up to 0.6 per cent. On the flipside, Nifty Metal, and Nifty Auto indices were subdued in trade.

Among individual stocks, shares of Nykaa gained over 1 per cent after the company rose by 33.7 per cent YoY to Rs 1,302 crore in Q4FY23.

Besides, shares of Life Insurance of Corporation (LIC) surged over 2 per cent after the company recorded standalone profit over 400 per cent YoY in Q4FY23.

Global Cues

Globally, the US markets continued their downward trend for the fourth straight day after no progress was seen over debt ceiling negotiations. Dow Jones, the S&P 500, and NASDAQ Composite indices slipped up to 0.7 per cent.

That apart, minutes of the US FOMC revealed that officials were uncertain about how to embark the interest rate hike trajectory as they attempt to reign inflation.

In Asia-Pacific, markets were mixed this morning, with Nikkei 225, and Kospi rising up to 0.2 per cent. On the flipside, the S&P 200, and Topix indices declined up to 0.7 per cent.

For the commodity market, prices of Brent Crude, and WTI Crude slipped up to 0.2 per cent to $78 per barrel, and $74 per barrel, respectively.