Market Indices Today: Nifty top gainers and losers
Market Indices today: Nifty closed below 14350 Sensex declined 202 points
Indian stock market indices made a negative start today tracking weakness in global peers. The markets were traded volatile during the day in a narrow range, especially the Bank Nifty. In the end, the benchmark indices closed in the negative territory.
The market sentiments were negative due to the surge in coronavirus cases in the country, India reported 332,503 fresh coronavirus infections on Thursday. Adding more pessimism, S&P Global Ratings said the Indian economy is projected to grow at 11 percent in the current fiscal. S&P said the control of Covid-19 remains a key risk for the economy and the country is in the middle of the second wave. Also the rating agency Fitch Ratings has affirmed India’s long-term foreign-currency issuer default rating (IDR) at ‘BBB-’ with a negative outlook.
Today’s market indices: Nifty, Sensex, and Bank Nifty on the spot prices
At close, Nifty declined 64.80 points or 0.44 percent and finished at 14341.35 levels while Sensex slipped 202.22 points or 0.42 percent and closed at 47878.45 levels. The Bank Nifty on the spot price was down by 60.30 points or 0.18 percent and ended at 31722.30 levels.
The midcap and smallcap indices closed higher today. The Nifty midcap index gained 60.10 points or 0.26 percent and ended at 23,492.75 levels. The Nifty smallcap index was up by 34.55 points or 0.42 percent and closed at 8250.55 levels.
The top five gainers in the Nifty50 index for the day were Power Grid, NTPC, Axis Bank, IndusInd Bank, and BPCL. The top five losers in the Nifty50 index were M&M, Britannia, Dr. Reddy Lab, Wipro, and Tech Mahindra. The most active stock for the day was Tata Steel, ICICI Bank, and Tata Motors.
On a sectoral front, Insurance, Power, Financial, and Capital Goods sectors closed in the green. On the losing side FMCG, Infrastructure, Metals, Real Estate, Healthcare, and IT sectors closed in the red today
Derivative market indices today: Nifty & Bank Nifty futures
The Nifty futures share price today opened at 14335.05. It made a negative opening of 68.55 points. It has touched an intraday high at 14468.55 and a day’s low at 14263.55
The Nifty futures share price has given a movement of 205 points. In the end, it fell 70.6 points or 0.49 percent and closed at 14333 levels.
The Bank Nifty futures share price opened at 31505 It made a negative opening of 257.85 points today. It has touched an intraday high at 32169 and a day’s low at 31376.40
During the day, the Bank Nifty futures share price has given a movement of 729.6 points. In the end, it declined by 160.2 points or 0.50 percent and closed at 31602.80 levels.
Global market updates today
On the global front, Asian markets closed mixed on Friday as the sentiment is quite cautious in most of the markets in the region amid a continuing surge in coronavirus and the possibility of lockdowns in certain places. The European markets are trading lower tracking profit-taking on US markets overnight, due to its tax hike plan. The US futures, Dow, and Nasdaq futures are trading marginally higher at 4.30 pm IST
Conclusions
The weak global cues, rising coronavirus cases have dragged down the market indices today. The midcap and smallcap indices have outperformed the benchmark indices today. The Bank Nifty index traded volatile in a tight range and closed in the red today. Traders should remain cautious next week due to monthly F&O expiry.
Traders can read “Next week market report” and Nifty and Bank Nifty trading levels on Saturday.
You may also like to read, Intraday Trading books to make money from Stock Markets
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Happy weekend !!
Editor’s Desk
