Markets end the day in red

Early gains get wiped out

September 29, 2022 3:27 IST | India Infoline News Service
Equity markets ended the day in red today. Nifty 50 ended, down by 40.50 points. Sensex ended, down by 90.29 points. Top gainers today were Shree Cement, ONGC, Hindalco. Top Losers today were Asian Paints, Hero Motors, and Tech Mahindra.

Early gains in equity markets got wiped out due to selling seen in the later half of the day. 31 stocks at NSE touched their 52 week high today, while 50 stocks touched their 52 week low. Nifty FMCG index performed the best today. It gained around 537.35 points during the day. This shows that many investors are preparing for increased uncertainty by buying relatively non-cyclical, safer FMCG stocks.

The tone of the market today indicates that a large number of participants are expecting negative news on RBI interest rate hike front. RBI will announce its interest rate hike decision tomorrow. The broader expectation is that it will go for a 50 basis point hike. 

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