Sensex, Nifty bounced back after 2-days of fall
Sensex and Nifty Today: It was a positive opening for the Indian stock markets on Tuesday after the previous day’s selloff, tracking the positive cues from the other Asian market peers and the US markets overnight. Nifty made a positive opening at 17121.30 levels, up by 167.35 points while Sensex opened at 486.35 points higher from the previous close at 57066.24 levels. At the close, the domestic market extended its rally and closed strong on Tuesday.
Stock Market News Today
Indian equity markets traded positively today amid a recovery in global markets. The market sentiments remained positive as the Confederation of Indian Industry’s (CII) President TV Narendran stated that the country’s economy is likely to grow 7.5-8 percent in FY23 with exports playing a vital role in the country’s success story.
Meanwhile, traders have overlooked India Rating and Research’s (Ind-Ra) report warned that the ongoing headwinds like war-triggered inflation, rate tightening by RBI, and weak rupee will lead to a Rs 60000 crore increase in ‘risky debt’ in FY23. Defining ‘risky debt’ as borrowings by companies having net leverage or debt to operating profit ratio of more than 5 times.
On the global front, most of the other Asian market indexes closed higher on Tuesday, after yesterday’s sharp selloff and following a late revival on Wall Street. The European markets are trading higher tracking the positive global cues and support from the quarterly earnings.
Nifty and Sensex indexes at the close today
At the close, the Nifty index gained 246.85 points or 1.46 percent and closed at 17200.80 levels while Sensex was up by 776.72 points or 1.37 percent and finished at 57356.61 levels. The Bank Nifty index ended higher today by 322.45 points or 0.89 percent on spot and ended at 36404.80 levels.
The broader markets were closed higher in line with their larger peers. The Nifty midcap index gained by 482.25 points or 1.62 percent and closed at 30215.35 levels. The Nifty smallcap index closed higher by 119.85 points or 1.17 percent and finished at 10402.45 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Adani Ports, Bajaj Auto, Hero Motorcop, M&M, and Power Grid Corp whereas the top losers were ONGC, Apollo Hospital, and Axis Bank, Hindalco, and Asian Paints.
The top gainers in the Nifty midcap index were Bombay Burmah, Chola invest, and Apollo Tyers, and the top losers were Laurus Labs, Varun Beverages, and Tata Elxsi
The smallcap top gainers were TV18 Broadcast, Tanla Platforms, and GNFC and the top losers were Future Retails, Caplin Labs, and Kaveri Seeds
The most active stocks in the Nifty index in terms of value were Adani Ports, Reliance, and ICICI Bank The most active stocks in terms of volume were Adani Ports, Coal India, and ITC.
On a sectoral front, all sectoral indices closed higher today. The sectoral indices that led the rally were Realty, Auto, PSU Bank, FMCG, and Metals
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