Indian stock market today 8 July 2022, top gainers & losers
Sensex and Nifty Today: Indian stock market opened a gap-up on Friday tracking positive global cues. Nifty today opened at 16273.65 levels up by 140.75 points while Sensex made a positive opening of 395.97 points at 54574.43 levels. Indian markets trimmed some early gains soon after opening and later closed in the positive zone.
Stock market updates today
Indian equity markets remained positive throughout the day, led by gains in Capital Goods, Industrial, IT, and Banking stocks. Traders took some support with Economic Affairs Secretary Ajay Seth’s statement that the measures taken by the Reserve Bank of India (RBI) will boost foreign inflows and help in strengthening the rupee against the US dollar.
Earlier on Wednesday, RBI raised the overseas borrowing limits for companies and liberalized norms for foreign investments in government bonds as it announced various measures to boost foreign exchange inflows.
The quarterly earnings season has just started and the IT major TCS is set to report its financial results for the April-June period later in the day. The IT sector remained in focus as the domestic rating agency Crisil in its latest report stated that the IT services sector will see a decline in revenue growth to 12-13 percent in FY23 from 19 percent in FY22.
However, the recent depreciation in the rupee and strong demand for new-age technologies like artificial intelligence, cloud computing, and the internet of things will help the over $220 billion sectors maintain double-digit growth.
On the global front, the other Asian market indexes mostly closed in the green on Friday. The gains were limited by ongoing growth fears and after the death news of Japan’s former prime minister Shinzo Abe who was shot and killed during the campaign for a parliamentary election.
Japan’s Nikkei erased early gains and closed almost flat on Friday. European markets are trading marginally lower ahead of a speech of ECB president Lagarde and the much-awaited US monthly job data.
Sensex and Nifty at the close today
The Nifty index gained 87.70 points or 0.54 percent and closed at 16220.60 levels while Sensex was up by 303.38 points or 0.56 percent and finished at 54481.84 levels. The Bank Nifty index ended higher today by 203.75 points or 0.58 percent on the spot level and ended at 35124.05
The broader markets also closed higher today, as the Nifty midcap index gained by 76.60 points or 0.28 percent and closed at 27649.05 levels. The Nifty smallcap index closed higher by 26.55 points or 0.31 percent and finished at the 8730.10 level
Nifty top gainers and losers today
The top gainer in the Nifty50 index was Larse, Power Grid, Tata Motors, NTPC, and Coal India whereas the top loser was Hindalco, BPCL, IndusInd Bank, JSW Steel, and Maruti Suzuki
The midcap top gainers were SRF, M&M Financials, and Oil India and the top losers were Dhani Services, Ashok Leyland, and Max Financial
The top gainers in the Nifty smallcap index were India Cement, Cyient, and Kajaria Ceramic, and the top losers were Vakrangee, NBCC (India), and Welspun India.
The most active stocks in the Nifty index in terms of value were Reliance, M&M, and LT. The most active stocks in terms of volume were ONGC, Hindalco, and Tata Motors
On a sectoral front, barring Metals and Realty all other sectoral indices were closed higher today. The sectors that led the rally were Banking, Finance, FMCG, and Pharma
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