Sensex falls below 63K-mark amid losses in financials, IT

Hi all, I am Neha Vashishth from ETMarkets. Welcome to another episode of ET Market Watch - your daily podcast for daily stock market updates. Let's start with the highlights:

-Sensex and nifty closed in the red for the second consecutive session today
-This is because of negative cues coming in from global markets amid higher-than-expected interest rate hikes in Britain.
-Selling was seen across all major sectors.
-Sensex declined 259 points and settled below the 63,000 mark
-Nifty dropped 106 points and ended below the 18,700 mark

Gainers & losers
Tata Motors, SBI, Power Grid, Tata Steel, Infosys, and UltraTech Cement were the losers of the day, while IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Tech, and HDFC were the gainers of the day.

Stocks in news today
Adani Group stocks closed up to 7% lower amid regulatory scrutiny in the US
Shares of Eros International Media closed with 20% lower circuit after the SEBI barred its three company entities from the securities market for alleged misstatements in its account books.

Sector-wise performance
Nifty Metal, Nifty Auto fell along with Banks, financial, FMCG, IT, media, realty, consumer durables and oil & gas closed lower. In the broader market, Nifty Midcap100 dropped 1.24%, and Smallcap100 fell 1.17%.

Global Markets
Global stocks ended the week lower. Japan's Nikkei fell 1.45% and was set to snap a 10-week winning streak with a 2.7% weekly drop.

Oil prices and Rupee
Oil prices dropped for a second day as a UK interest rate hike added to concern over economic growth outweighed lower US crude stocks and other signs of tighter supplies. Brent crude slipped $1.03 and closed at $73.11 a barrel while US WTI crude was down $1.12, at $68.39.

Rupee closed lower for the week but managed to outperform its Asian peers, thanks to foreign inflows and the absence of dollar demand from oil companies, the rupee closed at 82.0350 per US dollar.