Nifty index end above 18300, Sensex up 1181 pts today
Sensex and Nifty Index Today: Indian stock markets made a gap-up opening on Friday tracking positive cues from Wall Street overnight. The Nifty index today opened at 18272.35, up by 244.15 points while Sensex made a strong opening at 61311.02 levels, a gap-up of 697.32. The domestic markets continued to trade in an optimistic mode and closed near the day high.
Stock Markets News and Update Today
The positive cues from the US markets after the signs of cooling inflation data supported the domestic markets today. The appreciation of the Indian rupee against the dollar has also boosted the domestic market sentiments today. The heavyweight index stocks were in demand today.
However, the markets have overlooked Moody’s report, regarding the cut of India’s GDP growth projections for 2022 to 7 percent from 7.7 percent forecasted earlier. This is due to the global slowdown and rising domestic interest rates which are likely to dampen economic momentum.
This is the second time that Moody’s Investors Service has cut India’s growth estimates. In September, it had cut projections for the current year to 7.7 percent from 8.8 percent estimated in May.
On the global front, the other Asian market closed higher on Friday, following the positive cues from the US markets overnight. The sentiments were upbeat, as the US inflation cool down more than expected in October. Investors are in hope of a 50 bps interest rate hike by the Fed in December instead of 75 bps.
Europen markets are trading higher on Friday tracking strong gains in US and Asia, after cooler-than-expected US inflation data on Thursday.
Sensex and Nifty Index at the close today
The Nifty index was up by 321.50 points or 1.78 percent and closed at 18349.70 levels while the Sensex gained by 1181.34 points or 1.95 percent and finished at 61795.04 levels. The Bank Nifty index closed higher by 533.30 points or 1.28 percent on the spot level and ended at 42137.05
The broader markets underperformed the benchmarks today, as the Nifty midcap index closed slightly higher by 23.05 points or 0.07 percent and at 31381.70 levels. The Nifty smallcap index was up by 36.75 points or 0.38 percent at 9705.35 levels.
Nifty 50 Index top gainers and losers today
The top gainers in the Nifty 50 Stocks were HDFC, HDFC Bank, Infosys, Tech Mahindra, and HCL Tech and the top losers were Eicher Motors, Hero Motorcorp, Britannia, M&M, and SBI
The top gainers in the Nifty midcap index were Coforge Ltd, Mindtree, and Mphasis and the top losers were Indian Hotels, Container Corp, and Trent
The smallcap top gainers were Cochin Shipyard, Affle India, and Firstsource Sol while the top losers were GNFC, Ujjivan Small, and Chambal Fert
The most active stocks in the Nifty index in terms of value were HDFC Bank, HDFC, and Axis Bank. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and Coal India
On the sectoral front, PSU Bank, Auto, and FMCG sectors were closed in the red today. The sectors that led the rally were IT, Financial Services, Metals, Realty, Oil & Gas, and Bank
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