Market today: Sensex and Nifty 50 indices closed flat
Market Updates- Sensex and Nifty 50 today
Indian stock market indices Sensex and Nifty 50 today opened flat and traded above their neutral lines throughout the day. Buying in IT, utilities, power, and basic materials stocks helped the markets to trade higher today. In the End, markets pared some initial gains and closed marginally higher
The Sensex and Nifty 50 indices took some support with government data showing that the country’s exports jumped by 60.29 percent to $34.45 billion in March even as the outbound shipments contracted by 7.26 percent during the full 2020-21 fiscal to $290.63 billion.
However, markets trimmed some of their gains due to concerns about a spike in new coronavirus cases. India reported a record single-day rise of 2,17,353 new coronavirus infections on Thursday while active cases crossed more than 15 lakh, according to the Union Health minister updated on Friday.
Meanwhile, India Meteorological Department (IMD) forecasts that India will have normal monsoon rainfall this year as La Nina or El Nino weather conditions, which impact rain patterns, are likely to be absent this year.
Today’s market indices: Sensex, Nifty 50, and Bank Nifty on the spot prices
At the close, Nifty 50 gained 36.40 points or 0.25 percent and closed at 14617.85 levels while the Sensex was up by 28.35 points or 0.06 percent and finished at 48832.03 levels. The Bank Nifty on the spot price is closed 135.40 points down or 0.42 percent and ended at 31977.45 levels.
The midcap and smallcap outperformed the benchmark indices today. The Nifty midcap index gained 230.65 points or 0.98 percent and closed at 23760.65 levels. The Nifty smallcap index was up by 92.60 points or 1.13 percent and ended at 8263.60 levels.
The top five gainers in the Nifty50 index were Wipro, Hindalco, Asian Paints, Ultratech Cement, and Cipla. The top five losers in the Nifty 50 index were JSW Steel, ICICI Bank, Larsen, Bajaj Finance, and Tata Steel. The most active stocks in the Nifty50 index were Wipro, Adani Ports, and Tata Motors.
On a sectoral front, Healthcare, Automobiles, Power, Consumer Durables, and IT & Software sectors closed higher today. On the losing side, Banking, Oil &Gas, Infrastructure closed marginally lower today.
Derivative market updates today: Nifty & Bank Nifty futures
The Nifty futures share price today opened at 14605.65. It made a positive opening of 13.65 points. It has touched an intraday high at 14733.35 and a day’s low at 14582.25
The Nifty futures share price has given a movement of 151.1 points. In the end, it gained 32.3 points or 0.22 percent and closed at 14624.30 levels.
The Bank Nifty futures share price opened at 32260 It made a positive opening of 53.05 points today. It has touched an intraday high at 32439.20 and a day’s low at 31986.45
During the day, the Bank Nifty futures share price has given a movement of 425.75 points. In the end, it declined by 183.85 points or 0.57 percent and closed at 32023.10 levels.
Global market updates today
On the global front, Asian markets closed in the green today amid the strong US and Chinese economic data spurred optimism about a speedy global economic recovery. The European markets are trading higher tracking the overnight gains from Wall Street and strong economic data released in the US and China. The US future indices are trading mixed, Dow future is trading marginally higher whereas Nasdaq future is trading marginally lower at 4 pm IST.
Conclusions:
Indian stock markets closed almost flat today despite positive cues from Wall Street and Asian Markets. The broader markets outperformed the benchmarks as some buying seen in the midcap and smallcap indices today. The Sensex and Nifty 50 indices traded in a range-bound today despite positive global cues and a normal monsoon forecast by the IMD. Traders are concerns about the surges in coronavirus infection and its impact on the Indian economy in the current financial year.
You can read “Next week market report” and Nifty and Bank Nifty trading levels on Saturday.
You may also like to read, Stock market holidays 2021-Indian & Global markets
Best Options Trading Books in India-Must Read 2021
Happy weekend !!
Editor’s Desk
