Stock Market Updates: Sensex Falls Over 400 pts, Nifty Below 18,200; HDFC Twins Down 4%

By Jessica On May 5, 2023

Last Updated: May 05, 2023, 09:27 IST

Sensex Today: Sensex and Nifty indices on Friday opened on a tepid note following renewed banking fears on Wall Street overnight. The BSE Sensex fell 400 points to 61,338, and the NSE Nifty50 slipped 100 points to 18,150.

HDFC twins slumped 4 per cent leading losses on the Sensex, IndusInd Bank, HDFC Life, Tata Steel were the other frontline losers.

On the flip side, ICICI Bank, L&T, Axis Bank Nestle, Ultratech Cement and SBI were among the top Sensex gainers.

The broader markets, meanwhile, opened higher. The BSE MidCap and SmallCap indices rose up to 0.3 per cent.

Global Cues

Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the US banking sector following another rout in shares of regional lenders.

Wall Street ended lower on Thursday after PacWest’s move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase, Wells Fargo & Co and other major financial players.

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Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. Among other things, financial market, economy and policies interest her …Read More

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