Nifty above 16650, Sensex jumps 1041 pts, IT Realty gains
Nifty and Sensex Today: Indian stock markets opened a gap-up on Monday amid positive cues from other Asian market peers. The Nifty today opened at 16527.90 levels, up by 175.45 points while Sensex opened higher by 623.09 points at 55507.75 levels. The Indian market indexes extended their early gains and closed on a strong note today.
The latest news that supported the markets today
Indian stock markets traded strongly amid sustained buying in blue-chip stocks. The market sentiment was upbeat as RBI data showed that India’s forex reserves increased by $4.23 billion to $597.509 billion for the week ended May 20, after a consecutive fall of 9 weeks.
The markets got some additional support as minister of state for commerce and industry Anupriya Patel said India is fast-tracking negotiations for proposed free trade agreements with certain developed countries like the UK as well as the European Union and maybe by the year-end, the government would be able to give a final shape to few of these pacts.
On the global front, the other Asian market indexes closed in the green amid easing concern about aggressive interest rate hikes in the US. The latest data released in the US showed a slowdown in US core consumer price growth in the month of April. The European markets are trading higher tracking positive Asian market cues.
Nifty and Sensex indexes at the close today
The Nifty index gained by 308.95 points or 1.89 percent and closed at 16661.40 levels while Sensex was up by 1041.08 points or 1.90 percent and finished at 55925.74 levels. The Bank Nifty index ended higher today by 213.65 points or 0.60 percent on the spot level and ended at 35826.95
The broader markets outperformed today as compared to benchmarks. The Nifty midcap index gained by 669.10 points or 2.24 percent and closed at 28326.35 levels. The Nifty smallcap index closed higher by 271.90 points or 3.08 percent and finished at the 9095.95 level
Nifty top gainers and losers today
The top gainer in the Nifty 50 index was Titan, M&M, Adani Ports, Infosys, and Larsen whereas the top losers were Kotak Mahindra, JSW Steel, Sun Pharma, Dr. Reddy’s Lab, and ITC
The top gainers in the Nifty midcap index were Dixon Technology, City Union Bank, and CG Consumer and the top losers were Dr. Lal Path Labs, Tata Elxsi, and Dhani Services.
The smallcap top gainers were Affle India, Fine Organics, and Route and the top losers were Future Retails, Thyrocare, and Godfrey Philip.
The most active stocks in the Nifty index in terms of value were Reliance, Infty, and HDFC. The most active stocks in terms of volume were ONGC, Tata Motors, and NTPC
On a sectoral front, all sectoral indices were closed in the green today. The sectors that led the rally were Realty, IT, Media, PSU Bank, Consumer Durables, and Oil & Gas
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Editorial desk
