Sensex and Nifty Today: It was a negative start for the Indian stock markets on Tuesday amid negative cues from the global markets. Nifty made a negative opening of 100.15 points at 15674.25 while Sensex opened lower at 52495.94 levels, down by 599.38 points. However, the Indian stock market indexes erased their early losses after a few minutes of trading and were trading volatile throughout the day.
Stock market updates today
The domestic markets got some support in the morning deal, as the data showed yesterday that CPI inflation has moderated with the support of government measures taken to curb domestic crude and food prices in the last month. Investors were optimistic as the domestic inflation is not getting out of control and RBI may not be aggressive to tight the monetary policy next time.
The traders took some support from Exim Bank’s statement that India’s total merchandise exports are likely to be at $117.2 billion in the first quarter of FY23, against $95.5 billion in the corresponding quarter of last year. The domestic market got some support as ICRA Ratings’ report stated that non-banking companies (NBFCs) and housing finance companies (HFCs) witnessed an improvement in their asset quality in the fourth quarter of FY22 as the impact of the covid was minimal and the slippage from the restructured book was lower.
However, the upside was limited, and markets closed slightly negative after India’s Wholesale Price Index (WPI) numbers hit a fresh high in May, rising to 15.88 percent against 15.08 in April 2022.
On the global front, Asian markets were cautious and closed mixed on Tuesday as investors fear about the Federal Reserve’s aggressive monetary policy tightening later this week, which can push the world’s largest economy into recession. European markets erased early gains and are trading lower at this time at 3.30 pm IST as the concerns about the aggressive monetary policy tightening will slow down the growth in the region.
Nifty and Sensex at the close today
The Nifty index declined by 42.30 points or 0.27 percent and closed at 157732.10 levels while Sensex was down by 153.13 points or 0.29 percent and finished at 52693.57 levels. The Bank Nifty index ended lower today by 94.50 points or 0.28 percent on the spot level and ended at 33311.35
The broader markets were closed lower today. The Nifty midcap index declined by 62.15 points or 0.23 percent and closed at 26715.65 levels. The Nifty smallcap index closed lower by 50.80 points or 0.59 percent and finished at the 8556.80 level
Nifty top gainers and losers today
The top gainer in the Nifty50 index was NTPC, Bharti Airtel, Apollo Hospital, M&M, and Divis Lab whereas the top losers were Bajaj Auto, IndusInd Bank, ONGC, Hindalco, and Tech Mahindra
The top gainers in the Nifty midcap index were Varun Beverages, Torrent Power, and Coromandel Int top losers were Oil India, Dhani Services, and Polycab
The smallcap top gainers were Shilpa, Future Retail, and Alkyl Aminies and the top losers were Route, CAMS, and Indian Bank.
The most active stocks in the Nifty index in terms of value were Reliance, Bajaj Finance, and ICICI Bank The most active stocks in terms of volume were Tata Motors, NTPC, and ICICI Bank.
On a sectoral front, Realty, Metals, Pharma, and IT closed in the green today. The sectors that dragged down the markets were Oil & Gas, Auto, Financial Services, and Banking.
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Editorial desk