Nifty ends above 17600, Sensex gains 708 points today
Nifty & Sensex Today: Indian equity markets opened in the red on Friday amid negative cues from the global markets. The benchmark indices immediately erased their early losses and traded strongly throughout the day. The Nifty today opened at 17436.90, down by 28.45 points while Sensex made a negative opening of 37.78 points at 58530/73 levels. In the last hour, heavy buying was witnessed in the banking and financial stocks and markets closed above 1 percent today.
Stock Market News and Updates Today
The domestic market sentiments remained positive due to a decline in crude oil prices, the Brent crude oil is trading near $105 per barrel. The market sentiments got a further boost as the growth of eight core infrastructure industries grew 5.8 percent in February 2022 against a contraction of 3.3 percent in the year-ago month. The core sectors contribute 40% of the Index of Industrial Production (IIP), making it a leading indicator of industrial activity.
Further adding more optimism, Finance Minister Nirmala Sitharaman said India’s digital economy is likely to witness exponential growth to $800 billion by 2030. Besides, the RBI said that the non-food credit growth has accelerated to 8% in February as against 6.6 percent in the previous year for the same month.
On the global market front, the other Asian markets mostly erased their early losses and closed in the green today. The Chinese Shanghai recovered its early losses on Friday with property developers leading the gains on expectation of more economic stimulus after the data showed that factory activity plunged at the fastest pace in two years in March.
On the other hand, investors are worried and are skeptical about the progress of the peace talks between Russia and Ukraine, which is again resumed on Friday. European markets are trading marginally higher at this moment at 3.30 pm IST.
Sensex, Nifty indexes at the close today
At the close, the Nifty index gained 205.70 points or 1.18 percent and closed at 17670.45 levels while Sensex was up by 708.18 points or 1.21 percent and finished at 59276.69 levels. The Bank Nifty index ended higher by 774.90 points or 2.13 percent on spot and ended at 37148.50 levels.
The broader markets outperformed today compare to their larger peers. The Nifty midcap index was up by 442.25 points or 1.49 percent and closed at 30134.55 levels. The Nifty smallcap index closed higher by 175 points or 1.68 percent and finished at 10611.25 levels.
Top Nifty gainers and losers today
The top gainers in the Nifty 50 index were NTPC, BPCL, Power Grid, IndusInd Bank, and SBI whereas the top losers were Hero Motocop, Tech Mahindra, SBI Life, Sun Pharma, and Titan Company
The top gainers in the Nifty midcap index were BHEL, Dhani Services, and Manapurram Fin and the top losers were Ipca Lab, Nippon, and Fortis Health.
The smallcap top gainers were IOL Chemicals, Lux Industries, and Sunteck Realty and the top losers were Tanla Platform, BEML, and BASF
The most active stocks in the Nifty index in terms of value were INFY, HDFC Bank, and reliance The most active stocks in terms of volume were NTPC, Power Grid, and ONGC.
On a sectoral front, barring Pharma all other sectors were closed higher today. The sectors that led the rally were Banking, PSU Banking, Realty, Oil & Gas, and Financial Services.
You may also like to read, 3 Best Stocks to Buy in India for Short Term in March 2022
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Editorial desk
