Nifty ends below 19700, Sensex down 440 pts; Auto, Banking stocks drag

 

Sensex and Nifty Today July 27, 2023: Indian stock market indexes closed in a deep red on Thursday. The domestic markets opened higher following gains from Asian peers but turned red in the late morning session. Indices fell sharply as the session progressed on account of correction in the Auto and Banking counters.

In the morning, other than the positive global cues traders were encouraged by the institutional buying, as FIIs and DIIs both were buyers in the previous session. The rising crude oil prices due to tight supply, dampened the domestic market sentiments in the afternoon session. At close, Indian equity market indices ended near the day’s low.

 

Stock Market Indexes Today

 

The Nifty 50 index closed lower by 118.40 points or 0.60 percent and closed at 19659.90 levels while the Sensex was down by 440.39 points or 0.66 percent and finished at 66266.82 levels. The Bank Nifty index ended lower by 383.05 points or 0.85 percent on the spot level and closed at 45679.30 levels

The broader markets outperform their larger peers today, as the Nifty midcap index was up by 101.50 points or 0.27 percent and closed at 37151.60 levels. The Nifty smallcap index ended flat at 11578.75 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Cipla, Sun Pharma, DivisLabs, Apollo Hospital, and Bharti Airtel and the top losers were M&M, TechM, Tata Consumers, Britannia, and Nestle India.

The top gainers in the Nifty midcap index were REC Ltd, Gland Pharma, and Syngene and the top losers were Hind Petro, Motherson Sumi, and TTML

The smallcap top gainers were Raymond, BSoft, and Tejas Net while the top losers were RVNL, KEC, and RITES

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

On the sectoral front, Pharma, Realty, and PSU Bank closed higher while the sector that closed in the red were Auto Bank and Fin Services.

 

Global Stock Market Today

 

The other Asian stock market indexes mostly closed higher on Thursday, as US Federal Reserve raised interest rates by 25 bps as widely expected to their highest levels in 22 years. 

Hang Seng extended early gains in the last hour and closed higher by 1.6% on Thursday, gaining the most in the region. Shanghai erased early gains as China’s industrial profits decline for the sixth consecutive month. The key indexes in the region, Nikkei, Kospi, Taiwan, SET Composite, and Straits Times all closed higher on Thursday. 

Europen stock markets are trading higher, as investors digested the latest policy announcement from the Federal Reserve and focus on the earnings. Some cautiousness is there in the markets ahead of the European Central Bank interest rate decision later in the day.

 

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Happy Investing!!

Editorial desk