Nifty 50 ends below 18300, Sensex down 413 pts, PSU banks, IT gain

May 16, 2023 admin

Nifty 50 and Sensex Today 16 May 2023: Indian stock market opened in the green and immediately turned negative and traded in a narrow range with small cuts in the afternoon session. In the last hours, the benchmarks extended their early losses and closed in the red.

Stock Market Indexes Today

The Nifty 50 index closed lower by 112.35 points or 0.61 percent and closed at 18286.50 levels while the Sensex was down by 413.24 points or 0.66 percent and finished at 61932.47 levels. The Bank Nifty index ended lower by 168.40 points or 0.38 percent on the spot level and closed at 43903.70levels

The broader markets closed mixed today, as the Nifty midcap index was up by 83.45 points or 0.26 percent and closed at 32792.85 levels. The Nifty smallcap index closed lower by 1.60 points or 0.02 percent at 9885.45 levels.

Nifty 50 top gainers & losers

The top gainers in the Nifty 50 index were BPCL, ONGC, Coal India, Bajaj Finance, and NTPC and the top losers were HDFC, Tata Motors, M&M, HDFC Bank, and Apollo Hospital

The top gainers in the Nifty midcap index were Trident, Astral, and Policybazar and the top losers were REC Ltd, Jindal Steel, and ABFRL

The smallcap top gainers were Mazgaon Doc, Hudco, and Birla Soft while the top losers were Jubilant Ingrevea, Cyient, and Metropolis

The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and SBI. The most active stocks in terms of volume were SBI. ICICI Bank, and Tata Steel.

On the sectoral front, barring Nifty PSU Bank, and IT all other sectoral indices closed in the red today with media, auto, and financial services falling the most.

Global Stock Markets Today

On the global front, Asian stock market indexes mostly closed in the green despite weaker-than-expected Chinese economic data. Shanghai index closed lower as Investors were expecting the world`s second-biggest economy will rebound and provide policy support, but the data continued to show uneven recovery. Nikkei ended higher while Hang Seng pared early gains and closed flat to the positive.

European stock market indexes are trading near the flatline as investors reacted to fresh data that showed UK’s jobless data ticked higher, potentially easing inflation fears. The latest data showed that Eurozone Q1 GDP data came in at 1.3% vs 1.3% and the estimation was 1.3%. Investors are also closely monitoring the US debt ceiling negotiation.

If you like the post “Nifty 50 ends below 18300, Sensex down 413 pts, PSU banks, IT gain” please share it with others.

Stock Market Prediction Next Week (15- 19 May 2023)

Happy Investing!!

Editorial desk