Nifty End Below 18800, Sensex Falls 284 pts; Broader Markets Underperform
Sensex and Nifty Today, 22 June 2023: Indian stock market ended the volatile session in the red on Thursday. The domestic markets opened flat despite negative cues from the global markets. The markets were traded volatile in the second half due to the expiry of the weekly index options on the NSE.
The domestic markets traded below their neutral line in most parts of the session on Thursday. Sensex and Nifty traded lower, amid negative cues from the US markets and other Asian markets along with heavy selling at Energy and PSU Bank counters. The market sentiment was hit in the last hour after IMD says that the country’s cumulative rainfall is 31% below normal as on 22 June.
However, traders ignored the reports that Fitch Ratings raised its forecast for India`s economic growth to 6.3 percent for the current fiscal year 2023-24 from the 6 percent, it had predicted earlier. This is primarily because of a stronger outturn in the first quarter and near-term momentum.
Stock Market Indexes Today
The Nifty 50 index closed lower by 85.60 points or 0.45 percent and closed at 18771.25 levels while the Sensex was down by 284.26 points or 0.45 percent and finished at 63238.89 levels. The Bank Nifty index ended lower by 134.35 points or 0.31 percent on the spot level and closed at 43724.85 levels
The broader markets underperformed the benchmarks today, as the Nifty midcap index was down by 379.15 points or 1.06 percent and closed at 35235.25 levels. The Nifty smallcap index ended lower by 81.95 points or 0.76 percent at 10750.10 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were Divis Lab, L&T, HDFC, HDFC Bank, and Bharti Airtel and the top losers were Tata Steel, Bajaj Finance, Tata Consumer, Tata Motors, and Asian Paints
The top gainers in the Nifty midcap index were MFSL, Trident, and Polycab and the top losers were IDFC First, ABCapital, and M& M Finance
The smallcap top gainers were BSE, KEI, and Renuka while the top losers were India Cement, Brightcom Group, and Kalyan Jewellers
The most active stocks in the Nifty index in terms of value were HDFC, Bank, ICICI Bank, and Adani Enterprise. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and ICICI Bank.
On the sectoral front, Nifty Media and Metal closed in the green while PSU Bank, Energy, and Realty sectors dragged the markets
Global Stock Market Today
Asian stock markets mostly closed in the red on Thursday, as US Federal Reserves indicated more rate hikes this year. Nikkei closed lower as electronic stocks dragged while Kospi ended higher, snapping a three-day losing streak. The other Asian market indexes Shanghai, Taiwan, and Hang Seng were closed today due to the Dragon boat festival holiday.
European stock markets opened lower and are trading in the deep red due to hawkish comments from the US Fed officials and following negative cues from the Asian markets. Investors also remain cautious ahead of the Bank of England interest rate decision, later during the day.
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Editorial desk
