Nifty ends above 19350 and Sensex up 64 pts as Metal, Energy stocks gain
Sensex and Nifty Today July 10, 2023: Indian stock markets ended the volatile session with minor gains. Despite volatility, indices managed to hold their heads above water throughout the day on the back of buying Metal and Energy stocks along with positive cues from other Asian markets.
However, markets remained capped on the upside amid a private report stating that funding in Indian startups fell by 36 percent in January-June to $3.8 billion, the lowest half-yearly number in the last four years, as investors are taking longer time in due diligence of every aspect of the business.
Besides, another private report stated that private equity (PE) investment in real estate declined 5 percent year-on-year in April-June to $1.9 billion because of high-interest rates. Meanwhile, Deputy Governor T Rabi Sankar said that the Reserve Bank of India is looking at coming out with regulations for fintech players
Stock Market Indexes Today
The Nifty 50 index closed higher by 24.10 points or 0.12 percent and closed at 19355.90 levels while the Sensex was up by 63.72 points or 0.10 percent and finished at 65344.17 levels. The Bank Nifty index ended lower by 64.15 points or 0.14 percent on the spot level and closed at 44860.85 levels
The broader markets underperformed today, as the Nifty midcap index was down by 138.75 points or 0.38 percent and closed at 35938.05 levels. The Nifty smallcap index ended lower by 64.45 points or 0.58 percent at 11054.15 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were Reliance, Tata Steel, JSW Steel, Bharti Airtel, and HDFC Life and the top losers were Titan, HCL Tech, Power Grid, TCS, and HUL
The top gainers in the Nifty midcap index were SAIL, Gland Pharma, and Escorts and the top losers were Balkrishna Industries, Hind Zinc, Deepak Nitrate
The smallcap top gainers were Mazgaon Dock, Aegies Chemical, and IIFL and the top losers were Cyient, BCG, and MRPL
The active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and HDFC. The most active stocks in terms of volume were Tata Steel, Tata Motors, and HDFC Bank.
On the sectoral front, Metal and Energy closed higher while the sector that closed in the deep red were IT, Media, Realty, and FMCG
Global Stock Market Today
Asian stock market indexes closed mixed on Monday, as China’s CPI Inflation for June was reported flat, its lowest level since Feb 2021, while the producer price index fell multiyear low. Investors remain cautious ahead of the US inflation data this week. Hang Seng and Shanghai ended higher, while Nikkei and Kospi extended last week’s losses and closed in the red.
European markets are trading marginally higher on Monday, following a mixed session in Asia. Investors remain cautious ahead of the US inflation data, due later this week. The US future indexes, Dow and Nasdaq futures are trading slightly lower at this moment.
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