Stock Market Today: After the Reserve Bank of India (RBI) raised interest rates by 140 basis points, Monday’s opening of the Indian equity markets was bumpy due to negative global cues. Nifty50, one of the benchmark indices, fell 30 points to trade below 17,400, while the S&P BSE Sensex lost 100 points to close at 58,299 levels.

As Nifty Midcap 100 lagged Nifty Smallcap 100 and dropped 0.06 percent in trade, other markets too mirrored the gloomy sentiment.

Nifty Metal, Nifty Pharma, and Nifty Auto, in particular, defied the sentiment of the market as a whole. Nifty PSU Bank and Nifty Realty, however, were slowed down by trade.

Shares of Titan rose more than 1% among individual stocks as its net profit more than tripled to Rs 790 crore in Q1FY23.

In addition, Adani Ports’ shares increased 0.7% before the release of its Q1FY23 results.

Global Cues

Globally, the US markets on Friday were uneven, with the Dow Jones rising 0.2% while the NASDAQ Composite and the S&P 500 fell 0.5% and 0.1%, respectively.

On Monday morning, major Asian markets experienced a decline in trading. The Nikkei 225 in Japan was unchanged, while the Kospi in South Korea fell 0.2%.

While all is going on, crude oil prices are holding steady, with Brent Crude trading at roughly $94 per barrel and WTI Crude at around $88.

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