Nifty and Sensex Erase all Losses to Close Higher Amid Volatility

 

Sensex and Nifty Today, Aug 16, 2023: Indian stock market indexes recovered their intraday losses and closed in the green. The domestic markets opened a gap-down and later extended their losses due to weak global cues and as the country’s CPI inflation accelerated more than expected in July.

The market sentiments were also hit due to fresh selling from foreign investors, as per NSE provisional data, FIIs offloaded shares worth Rs 2324.23 crore on Monday. Indian equity benchmarks made recovery on the back of buying in IT and Realty stocks, amid negative cues from other Asian markets. 

Traders were cautious, amid a private report stating that Indian state retailers` gasoline and diesel sales fell in the first half of August from the previous month and a year ago, as industrial activity and mobility were hit due to monsoon rains. 

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 30.45 points or 0.16 percent and closed at 19465 levels while the Sensex was up by 137.50 points or 0.21 percent and finished at 65539.42 levels. The Bank Nifty index ended lower by 144.55 points or 0.33 percent on the spot level and closed at 43946.40 levels.

The broader markets also closed higher in line with their larger peers today, as the Nifty midcap index was up by 31.45 points or 0.08 percent and closed at 37801.65 levels. The Nifty smallcap index outperformed the benchmarks and closed higher by 66.10 points or 0.57 percent at 11728.50 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Apollo Hospital, Ultratech Cement. NTPC, Tata Motors, and Infy, and the top losers were Tata Steel, Adani Ports, Hindalco, HDFC Life, and Bharti Airtel

The top gainers in the Nifty midcap index were JSW Energy, Escorts, and PEL and the top losers were Cromptron, Coforge, and Gland Pharma

The smallcap top gainers were Cochin Shipyard, FACT, and IOB while the top losers were Hindustan Copper, BSE, and Balaji Aminies.

The most active stocks in the Nifty index in terms of value were HDFC Bank, Adani Enterprise, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, ICICI Bank, and HDFC Bank

On the sectoral front, Media, Realty, and Pharma closed higher while the sector that closed in the red were Metal, Financial Services, and Bank

 

Global Stock Market Today

 

Asian stock market indexes closed lower on Wednesday, following the negative cues from Wall Street overnight. Japan’s Nikkei closed lower, despite the business sentiment improved in July, as per the Reuters Tankan survey. South Korea’s Kospi resumed trading after a holiday and ended in the deep red.

China’s Shanghai index closed lower, as the House Price index fell into the contraction zone, for the first time since April. Hang Seng, Straits Times, and Taiwan also ended lower on Wednesday.

European stock markets are trading mixed on Wednesday, FTSE is trading slightly lower as  UK core inflation flatlined last month, increasing the fear of the Bank of England hiking rates again and putting pressure on borrowers and consumers.

 

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Happy Investing!!

Editorial desk