Nifty end near 19400, Sensex down 33 pts; FMCG, Auto Gain
Sensex and Nifty Today July 5, 2023: Indian stock market indexes ended the volatile session with minor gains on Wednesday. The equity benchmarks opened slightly higher and traded near their flatline in most parts of the trading session. In the last hour, markets erased the intraday losses and closed above the flatline.
Investors were concerned with Icra Ratings’ report that states continue to pay higher interest rates to investors for their debt, with the latest weighted average cost rising to 7.46 percent at Tuesday`s auctions wherein nine states raised Rs 16,200 crore.
India’s S&P Global services PMI came at 58.5 Vs 61.2 registered in the previous month. However, the downside remains capped in the markets, as some support came from S&P Global Ratings analyst Neel Gopalakrishnan’s statement that the companies tracked by the global rating agency S&P in India are in good credit shape due to strong underlying growth and accommodative balance sheets.
Stock Market Indexes Today
The Nifty 50 index closed higher by 9.5 points or 0.05 percent and closed at 18398.50 levels while the Sensex was down by 33.01 points or 0.05 percent and finished at 65446.04 levels. The Bank Nifty index ended lower by 149.65 points or 0.33 percent on the spot level and closed at 45151.80 levels
The broader markets outperformed the benchmarks today, as the Nifty midcap index was up by 252.85 points or 0.71 percent and closed at 36024.65 levels. The Nifty smallcap index ended higher by 81.05 points or 0.74 percent at 11078.25 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were Bajaj-Auto, Divis Lab, Hero Motors, HDFC Life, and Maruti and the top losers were HDFC Bank, HDFC, Eicher Motors, Tata Consumer, and UPL
The top gainers in the Nifty midcap index were BHEL, Hind Petro, and Torrent Power and the top losers were Dixon, Astral, and Bandhan Bank
The smallcap top gainers were MRPL, Aegies Chemical, and Century Textiles while the top losers were Brightcom Group, Suzlon, and Can Fin Home.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Bajaj Finance, and HDFC. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and ITC.
On the sectoral front, FMCG, Auto, and Media closed higher while the sector that closed in the red were Financial Services and Banks.
Global Stock Market Today
Asian stock market indexes ended lower on Wednesday, as a private survey showed service activity in Japan and China grew at a slower pace but remain in expansion territory. Nikkei, closed lower on Wednesday while Hang Seng fell the most in the region. Shanghai and South Korea’s Kospi also ended in the red.
European markets are trading lower on Wednesday, following the negative cues from Asian peers. Investors are also cautious ahead of the minutes of FOMC’s last meeting scheduled to release later in the day.
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