Nifty closed above 15850 levels, top gainers and losers
Nifty closed above 15850 levels, Sensex gains 138 pts today
Nifty & Sensex Today: Indian stock markets made a positive start on Friday following overnight gains on Wall Street. After few minutes of trading, markets wiped out all initial gains and were trading lower in the early deals. In the second half, the markets recovered and closed higher on the back of buying in FMCG, Banking, and Manufacturing stocks.
Other than the positive global cues, some support came as the Information and Broadcasting Minister Anurag Thakur said the Union Cabinet has approved a Rs 6322 crore production linked incentive scheme for specialty steel, to boost the domestic manufacturer and exports in the sector. However the upside remained capped as former World Bank chief economist Kaushik Basu said India’s wholesale price-based inflation is at a 30 year high, leading to a very alarming situation for the country.
Some cautiousness also came into the market as the US has said India remains a challenging place to do business. It has urged to foster an attractive and reliable investment climate by reducing barriers to investment and minimizing the bureaucratic hurdles.
Today’s market updates: Sensex, Nifty, and Bank Nifty spot price
At the close, Nifty gained 32 points or 0.21 percent and closed at 15856.05 while Sensex was up by 138.59 points or 0.27 percent and finished at 52975.80 levels. The Bank Nifty spot price jumped 357.10 points or 1.03 percent and ended at 35034.40 levels.
The midcap and smallcap indexes closed mixed today. The Nifty midcap index gained marginally by 46.45 points or 0.17 percent and closed at 27584.80 levels. The Nifty smallcap index was down by 47.85 points or 0.46 percent and finished at 10406.95 levels.
The top five Nifty 50 gainers were ICICI Bank, ITC, Wipro, SBI Life, and Tata Cons. product. The top five losers in the Nifty 50 index were Tata Motors, Grasim, Adani Ports, L&T, and UPL. The most active stocks in terms of value were Bharti Airtel, ICICI Bank, and Tata Steel. The most active stocks in terms of volume were ITC, Tata Motors, and Bharti Airtel.
On a sectoral front, FMCG, Manufacturing, Banks, Real Estate, and IT sectors closed higher today. The sectors that closed lower were Capital Goods, Infrastructure, Telecom, Oil & gas, and Consumer Durables.
Global markets updates
On the global front, Asian markets mostly closed in the red on Friday despite positive cues overnight from Wall Street. The lingering worries over rising delta variants in several parts of the world rendered a cautious mood in the Asian markets. European markets are trading higher as sentiments are boosted by upbeat corporate news and the ECB’s promise to continue stimulus measures. The US futures indexes, Dow and Nasdaq futures are trading higher, indicating a positive opening for the US markets today.
You may also like to read, Best Stock Market Apps- Must Read Review 2021
Happy weekend !!
Editor’s Desk
