Active Stocks
Fri May 17 2024 15:59:40
  1. Tata Steel share price
  2. 167.25 0.81%
  1. Power Grid Corporation Of India share price
  2. 313.35 0.26%
  1. State Bank Of India share price
  2. 817.85 0.73%
  1. NTPC share price
  2. 365.40 1.11%
  1. HDFC Bank share price
  2. 1,464.90 0.33%
Business News/ Markets / Stock Markets/  Stock market today: Sensex, Nifty fall for 4th consecutive session; investors lose nearly 9 lakh crore in 4 days
BackBack

Stock market today: Sensex, Nifty fall for 4th consecutive session; investors lose nearly ₹9 lakh crore in 4 days

Stock market today: Sensex closed with a loss of 455 points, or 0.62 per cent, at 72,488.99 while the Nifty 50 ended the day at 21,995.85, down 152 points, or 0.69 per cent.

Stock market today: Sensex, Nifty fell for the fourth consecutive session on Thursday, April 18. (Image: Pixabay) (Pixabay)Premium
Stock market today: Sensex, Nifty fell for the fourth consecutive session on Thursday, April 18. (Image: Pixabay) (Pixabay)

Stock market today: Indian stock market benchmarks the Sensex and the Nifty 50 continued reeling under selling pressure as they ended in negative territory for the fourth consecutive session on Thursday, April 18, amid mixed global cues.

Losses in shares of select banking heavyweights, including HDFC Bank, ICICI Bank and Axis Bank, dragged the indices most.

However, mixed global cues amid easing crude oil prices and a fall in the US dollar capped the losses. 

Major European markets, including the UK's FTSE, France's CAC 40 and Germany's DAX traded in the green when the Sensex ended.

Simmering tension between Israel and Iran remains a key concern for the markets across the globe. As Mint reported, Israeli Prime Minister Benjamin Netanyahu has said that Israel will independently determine its course of action against Iran, disregarding calls for restraint from its allies.

Track Iran-Israel war live updates here

Sensex closed with a loss of 455 points, or 0.62 per cent, at 72,488.99 with only four stocks - Bharti Airtel, Power Grid, Infosys and Larsen and Toubro - in the green.

The Nifty 50 ended the day at 21,995.85, down 152 points, or 0.69 per cent, with 36 stocks losing and the remaining 14 ending higher.

The BSE Midcap index also ended lower by 0.39 per cent but the BSE Smallcap index ended with a nominal gain of 0.06 per cent.

As the market benchmarks extended losses into the fourth consecutive session, the overall market capitalisation of the firms listed on the BSE dropped to nearly 393.2 lakh crore from nearly 402.2 lakh crore on April 10, making investors poorer by about 9 lakh crore in four sessions.

Also Read: Kotak remains positive about hotel stocks, raises target price of IHCL, Chalet, Lemon Tree, Samhi Hotels; here's why

Meanwhile, crude oil benchmark Brent Crude traded over 1 per cent lower near the $86 per barrel mark around 4 pm on expectations that there would be no fresh sanctions against Iranian oil.

Top Nifty gainers today

Shares of Bharti Airtel (up 4.03 per cent), Power Grid (up 2.57 per cent) and Bajaj Auto (up 1.61 per cent) closed as the top gainers in the Nifty index.

Top Nifty losers today

Shares of Apollo Hospitals Enterprise (down 3.71 per cent), Nestle (down 2.95 per cent) and Titan (down 2.94 per cent) ended as the top losers in the Nifty index.

Also Read: Top Gainers and Losers today on 18 April, 2024: Bharti Airtel, Power Grid Corporation Of India, Apollo Hospitals Enterprise, Titan Company among most active stocks; Check full list here

Sectoral indices today

All sectoral indices ended lower except for Nifty Media (up 0.77 per cent).

Nifty Healthcare (down 1.75 per cent), Oil & Gas (down 1.10 per cent) and FMCG (down 1.08 per cent) lost big.

The Nifty Bank index ended with a loss of 0.87 per cent.

Expert views on markets

"Domestic benchmarks extended losses amid mixed sentiments, emerged from escalating geopolitical tensions in the Middle East, and as hopes of US rate cuts waned. Investors are adapting to prolonged higher US interest rates due to strength in the labour market and progress in inflation so far. The broader market has also witnessed profit booking, led by the weakness in heavy-weight sectors like banking and FMCG," said Vinod Nair, Head of Research, Geojit Financial Services.

Technical views on Nifty 50

"Nifty continued to weaken as the index remained below the critical moving average of 21EMA. However, on the hourly chart, the index has formed a bullish harami pattern, suggesting a potential bullish reversal in the near term. Additionally, a bullish divergence is evident on the hourly chart. Looking ahead, the index might advance towards 22,200/22,300; sustained trading above 22,300 could further strengthen the market. Support is situated at 21,900," said Rupak De, Senior Technical Analyst, LKP Securities.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed - it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 18 Apr 2024, 03:30 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started