Stock Market Today Live Updates: Nifty slips below 22,000 mark, Sensex down 450 pts

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Stock Market Live Updates: Sensex, Nifty 50 tanks on the first session of this week (File Image)

Stock Market News Today, Sensex Nifty Live Updates: Frontline equity indices BSE Sensex and NSE Nifty50 extended loss after opening marginally lower on the first trading session of this week. However, the indices clawed back from early losses to turn positive in the last few minutes.

The Indian stock market opened little changed on Monday (May 13), tracking mixed global cues. Sensex opened 187.82, or 0.27 per cent lower at 72,476.00 while Nifty inched 27.20 points, or 0.12 per cent lower at 22,028.00.

Despite stronger global cues, GIFT Nifty continues to trade with a discount of 180 points. The GIFT Nifty is trading 179.50 points, or 0.81 per cent lower at 22,949.50.

The decline in indices were led by Auto, PSU Bank an Energy indices while Pharma and Healthcare remained only indices in green.

Tata Motors shares declined as much as 9 per cent after posting Q4 results on Friday, wiping out market capitalisation (mcap) by Rs 29,946.88 crore to Rs 3,17,998.73 crore. The company’s stock slid the most since February 2022 on Monday, after falling as much as 9.5 per cent in the earlier session.

In line with frontline indices, broader markets opened in red territory. Nifty Midcap 100 is trading 279.85 points lower at 49, 218.60 while Nifty Smallcap 100 is trading at 135.40 points, or 0.84 per cent lower 15,985.20.

India VIX, or volatility index, remained elevated with an increase of 2.21 points, or 12.02 per cent higher at 20.70.

The India rupee started the week on a flattish note at 83.51 against US dollar on Monday. The Indian currency had closed Friday’s session at 83.51. Bloomberg’s dollar index and 10-year treasury yields remain little changed.

Asian markets remain in mixed territory with Japan’s Nikkei trading near flatline at 38,243.59 while South Korea’s Kospi inched 0.34 per cent lower at 38,243.59. Meanwhile, investors are accessing China higher-than-expected April inflation data which stood at 0.3 per cent. Investors are also awaiting Japan’s Q1 GDP results set to announce today.

US futures remained mixed as investors looked towards the upcoming inflation data. Investors will maintain a hawk eye on April’s consumer price index report due out on Wednesday and Federal Reserve’s cue on possible rate cut timeline.

Futures tied to the S&P 500 settled 0.16 per cent higher, while Nasdaq 100 futures hovered near the flatline. Dow Jones Industrial Average futures inched 125 points. The 30-stock Dow has advanced for an eighth-straight winning session.