Nifty end above 16300, Sensex up 1223 pts today
Closing Bell: Nifty end above 16300, Sensex up 1223 pts today
Indian stock market indexes opened higher on Wednesday tracking positive cues from the other Asian market peers. The Nifty today opened at 16078, up by 64.55 points while Sensex made a positive opening of 369.90 points at 53793.99 levels. The benchmark indexes traded strong today and extended their previous day’s gain.
Stock market updates
The domestic market sentiments were positive as Finance Minister Nirmala Sitharaman said the Union budget for 2022-23 was about the philosophy of `Atmanirbhar Bharat` (self-reliant Bharat) as customs duties were increased on those imported products which are also manufactured in India so that people buy the Indian equivalent. However, duties have not been increased on the products produced within the country.
The market sentiments were also positive after the news that President Volodymyr Zelensky is no longer pressing for NATO membership for Ukraine. The analysts are now expecting less aggressive monetary policy tightening by the Fed in their next week’s meeting also supported the market rally today.
On the global front, the other Asian market indexes trimmed their early gains and closed in the mixed. Japan’s gross domestic product expanded an annualized 4.6 percent on year in the fourth quarter of 2021, the Cabinet Office said on Wednesday. European markets rebounded strongly on Wednesday at the open despite the US ban on Russian oil as investors bet for the beaten-down stocks.
Nifty and Sensex indexes at the close
At the close, the Nifty index gained by 331.90 points or 2.07 percent and closed at 16345.35 levels while Sensex was up by 1223.24 points or 2.29 percent and finished at 54647.33 levels. The Bank Nifty index closed higher by 657.35 points or 1.98 percent on spot and ended at 33815.45 levels.
The broader markets also closed higher today in line with their larger peers. The Nifty midcap index was up by 586.95 points or 2.16 percent and closed at 27785.50 levels. The Nifty smallcap index closed higher by 230.85 points or 2.38 percent and finished at 9927.65 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Asian Paints, Reliance, Bajaj Finance, M&M, and IndusInd Bank whereas the top losers were Shree Cement, ONGC, Power Grid, NTPC, and Coal India.
The midcap top gainers were Indiabulls Housing, Dalmia Bharat, and Ashok Leyland and the top losers were Coforge Ltd, Hind Zinc, and Ipca Lab.
The top gainers in the Nifty smallcap index were IOL Chemicals, TV18 Broadcast, and Spice Jet, and the top losers were Bajaj Electric, Blue Star, and Quess Corp
The most active stocks in the Nifty index in terms of value were ICICI Bank, Reliance, and Tata Motors The most active stocks in terms of volume were ONGC, Tata Motors, and ITC
On a sectoral front, barring Metal all other sectors closed in the green today The sector that closed higher were Media, Realty, Auto Financial Services, Banks and Pharma
You may also like to read, Trade setup for Wednesday 9 March 2022- Morning Report
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Happy Investing!!
Editorial desk
