Closing Bell: Sensex and Nifty end flat as IT stocks drag

 

Sensex and Nifty Today 6 June 2023: The Indian stock market indexes pared intraday losses and closed almost flat on Tuesday. The domestic equity benchmarks traded below their neutral lines throughout the day, as investors preferred to stay on the sidelines ahead of the Reserve Bank of India`s interest rate decision. The market sentiments were subdued due to Foreign fund outflows and weak trends in the US equities. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 700.98 crore on Monday, according to exchange data. 

Some concern came with a report that India`s monsoon onset over the southernmost Kerala coast is delayed by another two-three days because the formation of cyclonic circulation in the Arabian Sea has reduced cloud cover over the Kerala coast. 

However, losses remain capped as traders took some support with a private report said that India`s GDP growth will track above 6 percent in the next two financial years, supported by strength in domestic demand. It pegged growth for 2023-24 and 2024-25 at 6.2 percent and 6.5 percent, respectively.

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 5.15 points or 0.03 percent and closed at 18599 levels while the Sensex was up by 5.41 points or 0.01 percent and finished at 62792.88 levels. The Bank Nifty index ended higher by 62.90 points or 0.14 percent on the spot level and closed at 44164.55 levels

The broader markets ended higher today, as the Nifty midcap index was up by 20.70 points or 0.06 percent and closed at 34035.90 levels. The Nifty smallcap index outperformed the benchmarks it ended higher by 56.20 points or 0.54 percent at 10415.25 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Ultracemo, Divis Lab, Grasim, Kotak Bank, and Tata Motors  and the top losers were TechM, Infy, TCS, ONGC, and Wipro

The top gainers in the Nifty midcap index were JSW Energy, Policy Bazar, and Torrent Power, and the top losers were Persistent, Coforge, and Mphasis

The smallcap top gainers were Aeiges Chemical, Suzlon, and FACT while the top losers were IEX, Cyient, and Anupam Rasayan

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

On the sectoral front, Nifty Realty, Auto, and Pharma closed higher while the sector that closed in the red were IT, PSU Bank and Energy

 

Global Stock Market Today

 

On the global front, Asian stock market indexes mostly pared intraday gains and closed in the red on Tuesday. The market sentiments were downbeat following weak cues from Wall Street overnight and as Australian Central Bank surprisingly hike the interest rate by 25 bps due to further upside risk to inflation. China Shanghai fell sharply by over 1% while Hang Seng erased all intraday gains and closed flat to the negative.

European stock market indexes are trading slightly lower on Tuesday, following negative cues from Asian counterparts.  The latest data showed that the British retail sales growth slowed to a seven-month low in May. This is due to soaring food prices prompted shoppers to rein in spending on non-essential items.

 

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You may also like to read,  Stock Market Prediction Next Week (29 May- 2 June 2023)

                                               Stock Market Live: Sensex and Nifty are trading slightly higher

 

Happy Investing!!

Editorial desk