Sensex Today: Key benchmark indices Sensex, Nifty started on a negative note amid weak global cues. Frontline indices the S&P BSE Sensex slipped 160 points to trade below 59,000-mark, whereas Nifty50 declined over 50 points to trade below 18,300 levels.
Broader markets, meanwhile, exhibited mixed trends as Nifty Smallcap 100 index gained marginally over Nifty Midcap 100 index.
Sectorally, Nifty Media, and Nifty Pharma indices marched forward in trade, up 0.4 per cent each. Nifty Bank, and Nifty IT indices, on the contrary, were subdued in trade.
Among individual stocks, shares of Shree Cement declined over 3 per cent after the company reported 20 per cent year-on-year (YoY) drop in consolidated net profit in Q4FY23.
Besides, shares of EIH gained over 1 per cent after the oberoi group company posted a 460 percent YoY leap in its consolidated net profit for the quarter ended March.
Global Cues
Globally, the US markets closed lower overnight as debt-ceiling negotiations saw no progress. Dow Jones, NASDAQ Composite, and the S&P 500 slipped up to 1 per cent.
Asia-Pacific markets, too, mirrored negative moves this morning as Nikkei 225, Kospi, Topix, and the S&P 200 indices declined up to 0.7 per cent.