Sensex resumes downtrend, Nifty at 19,331; Dabur falls 3%

Hello everyone, I am Neha Vashishth. Welcome back to ET Market Watch. Let's take a look at today's highlights

-Sensex and Nifty closed in the red today after rising to new record highs in the first hour of the trading session
-This happened due to fall in Asian peers over further monetary policy tightening concerns by the US Fed Reserve
-Nifty dropped 165 points today and ended at 19,331.
-On the other hand, Sensex declined 505 points and closed at 65,280.

Today's gainers and losers:
Power Grid, IndusInd Bank, and NTPC were the top Nifty losers while Tata Motors, Titan M&M, SBI and TCS ended with gains.

Stocks in news today
-Kalyan Jewellers closed over 5% higher after a strong Q1 business update.
-Praj Industries shares closed 7% higher after the firm signed a term sheet with Indian Oil Corporation (IOC) to strengthen biofuels production capacities in India.
-Zee Entertainment shares also ended 9.4% higher amid a block deal.

On the sectoral front, Nifty FMCG ended 1.53% lower, dragged by Dabur, UBL, and Marico. Nifty Bank, Nifty Financial Services, and Nifty IT also closed in the red.

Global Markets
World stocks slid today as the resilience of US jobs data has investors bracing for more interest rate hikes
Japan's Nikkei 225 fell 1.17%, while China's Shanghai Composite dropped 0.3%.

Oil and Rupee
Oil prices rose due to resilient demand resulting in a larger-than-expected fall in US oil stockpiles
Brent crude futures were up 34 cents at $76.84 a barrel, while US WTI crude gained 31 cents to $72.11 a barrel.
Indian rupee weakened 0.27% versus the US dollar, and quoted at 82.74 per dollar.