The BSE Sensex ended 0.19% lower at 53,134.35, sharply erasing early morning gains as weak global macroeconomic data and rising energy prices in Europe magnified fears of recession ahead of corporate earnings releases in the country. Sentiments weakened further as India’s fresh high June trade deficit worsened fears of wider current account deficit. Autos, technology and banks led the losses with declines coming particularly from Wipro (-1.58%), Mahindra and Mahindra (-1.2%), Maruti (-1.1%) and IndusInd Bank (-0.98%). On the contrary, oil-related stocks surged tracking elevated crude oil prices, led by PowerGrid Corporation (+1.54%). Also, Reliance and Ultra Cement Company followed with mild gains of 0.8% and 0.55% respectively.
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Historically, the SENSEX Stock Market Index reached an all time high of 62245.43 in October of 2021. SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on July of 2022.
The SENSEX Stock Market Index is expected to trade at 51378.89 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 47051.02 in 12 months time.