Closing Bell: Nifty ends above 17750, Sensex up 696 pts today on 2 Feb
Indian stock markets opened higher on Wednesday as investors were optimistic about the Union Budget 2022 and positive cues from the global markets. Nifty today opened at 17706.20 levels up by 129.35 points while Sensex made a positive opening of 430.87 points at 59293.44 levels. The markets traded comfortably above their neutral lines and extended their early gains today.
Indian stock market news today
Indian markets continued to trade higher throughout the day on the back of gaining in Banking and Financial stocks. The market sentiments remained up-beat with IT industry body Nasscom stating that the Union Budget 2022 sets the tone for India’s ‘techade’ and establishing the country as a global hub in terms of technology innovation.
However, traders have overlooked the Rating agency Moody’s statement that the Union Budget lacks any tangible measures to increase revenue generation even though the capital expenditure plans have gone up significantly and the fiscal estimate suggests that the government is relying too much on strong growth to help drive fiscal consolidation.
On the global front, Asian markets were closed in the green today with most of the markets in the region including Shanghai closed for the Lunar New Year holidays. The traders have taken positive cues from Wall Street overnight due to strong economic data and quarterly earnings.
Sensex and Nifty at the Close
At the close, Nifty was up by 203.15 points or 1.16 percent and closed at 17780 levels while Sensex gained by 695.76 points or 1.18 percent and finished at 59558.33 levels. The Bank Nifty index jumped by 825 points or 2.14 percent on spot and ended at 39330.50 levels.
The broader markets also closed in the green today. The Nifty midcap index was up by 359.95 points or 1.18 percent and closed at 30971.55 levels. The Nifty smallcap index closed higher by 160.70 points or 1.44 percent and finished at 11340 levels.
Top Nifty Gainers and Losers
The top gainers in the Nifty 50 index were IndusInd bank, Bajaj Finserve, HCL Tech, Bajaj Finance, and HDFC Life whereas the top losers were Tech Mahindra, Ultratech Cement, Britannia, Nestle, and Hero Motorcorp
The top gainers in the Nifty midcap index were Dr. Lal Path Lab, Union Bank, and Vodafone Idea and the losers were Balkrishna Industries, Chola Invest, and Indian Hotels.
The top gainers in the Nifty smallcap index was VIP Industries, Indian Bank, and Karur Vysya the losers were Alok Industries, Alkyl Amines, and Chambal fertilizer.
The most active stocks in the Nifty index in terms of value were IndusInd Bank, TechM, and SBI. The most active stocks in terms of volume were ITC, SBI, and IndusInd Bank
On a sectoral front, all the sectoral indices closed in the green today. The sectors that led the rally were Banking, Financial Services, Realty, Media, and Metal.
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Happy Investing!!
Editorial desk