Nifty end above 18600, Sensex up 99 pts; IT stocks shine

June 12, 2023 admin

Nifty and Sensex Today 12 June 2023: Indian stock markets started the week on a positive note. The positive global cues supported the domestic markets on Monday. Sensex and Nifty mostly traded above their neutral lines on Monday.

The market sentiments remained positive as Chief Economic Adviser V Anantha Nageswaran said that the government is on the same page with the Reserve Bank of India regarding the GDP growth forecast for the current financial year which is 6.5 percent.

Some support also came in as data released by the Centre for Monitoring Indian Economy (CMIE) showed that the country’s unemployment rate fell to 7.7 percent in May due to a decline in labor participation at 441.9 million. However, traders remain cautious ahead of the domestic CPI and IIP data, which will be released later in the day.

Stock Market Indexes Today

The Nifty 50 index closed higher by 38.01 points or 0.21 percent and closed at 18601.50 levels while the Sensex was up by 99.08 points or 0.16 percent and finished at 62724.71 levels. The Bank Nifty index ended slightly lower by 44.80 points or 0.10 percent on the spot level and closed at 43944.20 levels

The broader markets outperformed the benchmarks today, as the Nifty midcap index was up by 189.25 points or 0.55 percent and closed at 34342.30 levels. The Nifty smallcap index ended higher by 90.85 points or 0.87 percent at 10533.70 levels.

Nifty 50 top gainers & losers

The top gainers in the Nifty 50 index were BPCL, HCL Tech, Infy, NTPC, and Adani Enterprise and the top losers were Power Grid, L&T, Cipla, Titan, and Maruti

The top gainers in the Nifty midcap index were Delhivery, Prestige, and HPCL, and the top losers were Indian Bank, Alkem, and Adani Power

The smallcap top gainers were Suzlon, KEC, and Brightcom Group while the top losers were KRBL, Renuka, and Praj Industries

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

On the sectoral front, Nifty IT, Realty, and Media closed higher while the sector that closed in the red were Banks, Fin Services, and Pharma

Global Stock Market Today

On the global front, Asian stock markets mostly closed in the green on Monday as investors remain cautious ahead of the major central bank’s interest rate decision and key economic data, due later in the week. Nikkei ended higher. as Japan’s wholesale inflation declined more than expected in May.

Hang Seng erased early losses and managed to close in the green, while Shanghai snapped a three-day winning streak and closed slightly lower. The central bank governor of China said that the second-quarter GDP growth will be ‘relatively high’ due to the low base effect.

European stock markets are trading higher on Monday ahead of the central banks meeting. The share price of UBS is trading higher after Switzerland’s UBS announced that it had completed the takeover of its former rival Credit Suisse.

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Trade Setup for Monday 12 June: Stock Market Today

Happy Investing!!

Editorial desk