Nifty end below 19400; Sensex down 224 pts; IT stocks drag
Sensex and Nifty Today July 12, 2023: Indian equity benchmarks ended the volatile session with minor cuts on Wednesday. Indices erased all their initial gains in the morning session and traded volatile near their flatline. Investors remained on the sidelines ahead of the Industrial Production and Retail Inflation data which is due later in the day for more directional cues.
Investors also await the official kickstart of the earnings season of India Inc for directional cues. Some concern also came with a private report that spiraling prices of tomato, onion, and pulses are emerging as new risks for India’s retail inflation, reaffirming expectations of a hawkish hold from the central bank for the rest of the year.
Stock Market Indexes Today
The Nifty 50 index closed lower by 55.10 points or 0.28 percent and closed at 18384.30 levels while the Sensex was down by 223.95 points or 0.34 percent and finished at 65393.90 levels. The Bank Nifty index ended lower by 105.60 points or 0.24 percent on the spot level and closed at 44639.45 levels
The broader markets outperform their larger peers today, as the Nifty midcap index was up by 155.25 points or 0.43 percent and closed at 36408.15 levels. The Nifty smallcap index ended higher by 84.75 points or 0.76 percent at 11278.70 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were ONGC, Eicher Motors, JSW Steel, Nestle, and Kotak Bank and the top losers were Adani Enterprise, Ultratech Cement, BPCL, Infy, and Tata Motors
The top gainers in the Nifty midcap index were PayTM, Policy Bazar, and Indian Bank and the top losers were Guj Flurochem and Gujarat Gas
The smallcap top gainers were Mazgaon Dock, BSE, and Elgie Equipements while the top losers were Brightcom Group, Cyient, and Karur Vysya Bank
The most active stocks in the Nifty index in terms of value were HDFC, HDFC Bank, and Reliance. The most active stocks in terms of volume were HDFC, HDFC Bank, and Tata Steel
On the sectoral front, PSU Bank, Media, and Pharma closed higher while the sector that closed in the red were IT, Bank, and Financial Services.
Global Stock Market Today
Asian stock markets mostly closed higher on Wednesday tracking gains from Wall Street overnight. Nikkei and Shanghai ended lower paring most of their previous session gains while Hang Seng and Kospi gained on Wednesday.
European stock markets are trading higher following gains from Wall Street overnight. Traders remain cautious ahead of the US CPI inflation data, which is due later in the day.
If you like the post “Nifty end below 19400; Sensex down 224 pts; IT stocks drag” please share it with others.
You may also like to read, Gift Nifty: The Rebranded SGX Nifty Starts Trading July 3rd
You can also follow our Stock Market LIVE market updates daily on our website during market hours
Happy Investing!!
Editorial desk
