Nifty50 index closed 17369, top gainers and losers today
Indian stock market indexes, Sensex, and Nifty50 index opened lower on Thursday amid negative cues from the global market peers. Markets traded volatile in a narrow range today. In the end, markets closed marginally higher ahead of the long weekend. Tomorrow Indian stock market will be closed on account of Ganesh Chaturthi.
Other than the weak global cues, some concerns also came with India Rating and Research’s (IndRa) report stating that India Inc resorted to salary cuts to protect their profits in the June quarter, as revenues came under pressure due to the second pandemic wave that affected nearly the entire country. The weak wage growth will prove to be a drag on the overall economic recovery in the medium term as it will affect household consumption.
However, traders found some relief with a private survey report stating that India Inc’s business segments are drawing closer to pre-pandemic levels, hinting at a more robust performance in the next quarter.
Today’s market Indexes: Nifty50, Sensex, and Bank Nifty on the spot levels
At the close, Sensex gained 54.81 points or 0.09 percent and closed at 58,305.07. Nifty50 index was up by 15.75 points or 0.09 percent and finished at 17369.25 levels. The Bank Nifty on the spot price was down by 85 points or 0.23 percent and closed at 36683.20 levels.
The broader markets outperformed the benchmark indices today. The Nifty midcap index gained 85.55 points or 0.29 percent and closed at 29341.10 levels. The Nifty smallcap index was up by 68.45 points or 0.64 percent and closed at 10,687.75 levels.
The top five gainers in the Nifty50 index were ONGC, Bharti Airtel, Nestle India, Hindalco, Grasim. The top five losers in the Nifty50 index for the day were SBI Life, HDFC Life, Titan, Ultra Cement, Bajaj Auto. The most active stocks in the Nifty50 index in terms of value were Bharti Airtel, SBI Life, and Tata Motors. The most active stocks in terms of volume were Tata Motors, ONGC, and Bharti Airtel.
On a sectoral front, FMCG, Metals, Power, Automobiles, Capital Goods, IT & Software closed higher. On the losing side, the sectors that closed in the red were Insurance, Banking, Finance, and Real Estate.
Global markets today
On the global front, Asian markets closed mostly in the red on Thursday as investors fretted over a rise in coronavirus cases global and a surge in producer price in China. The European markets are trading lower as investors are cautious ahead of the European Central Bank meeting for hints on tapering plans. The US future indexes, Dow and Nasdaq futures are trading marginally lower at this moment 5 pm IST.
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