Sensex, Nifty end lower, metal stocks shine, auto drag
Sensex, Nifty Today 23 March 2022: It was an optimistic start for the Indian stock markets on Wednesday amid positive cues from the global markets. Nifty today opened at 17405.05 levels, up by 89.55 points while Sensex made a positive opening of 209.34 points at 58198.64 levels. Indian market traded volatile in the afternoon session and ended in the red today.
Stock Market News Today
Traders got some support after PM Narendra Modi said that history has been scripted, as India achieved its highest ever goods export target of $400 billion in nine days ahead of the schedule. Traders were encouraged as FIIs have turned buyers on Tuesday, the foreign institutional investors (FIIs) have bought Rs 384 crore in the cash segment on Tuesday.
However, the markets were volatile, as IMF Managing Director Kristalina Georgieva said that the new Internation Monetary Fund forecast that is due in April 2022, will show the impact of the Ukraine war. The report will show the slowdown of global economic growth due to war, but not cause a global recession.
On the global front, most of the other Asian markets were closed in the green today tracking positive cues from Wall Street overnight. The European markets are trading mostly in the red at this time as investors mulled the UK’s inflation data, UK reported a steep rise in February inflation to 6.2% from 5.5% in January.
Sensex, Nifty indexes at the close today
At the close, the Nifty index declined 69.85 points or 0.40 percent and closed at 17245.65 levels while Sensex was down by 304.48 points or 0.53 percent and finished at 57684.82 levels. The Bank Nifty index ended lower by 201.20 points or 0.55 percent on spot and ended at 3614735 levels.
The broader markets were closed mixed today as the Nifty midcap index was up by 160 points or 0.55 percent and closed at 29137.30 levels. The Nifty smallcap index closed lower by 21.20 points or 0.21 percent and finished at 10311 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Hindalco, Dr. Reddy’s Lab, Divis Lab, Tata Steel, and UPL whereas the top losers were HDFC, Kotak Mahindra, Bharti Airtel, Britannia, and Cipla.
The top gainers in the Nifty midcap index were L&T Finance, City Union Bank, and SAIL and the top losers were Dhani Services, ICICI Securities, and Bombay Burmah
The smallcap top gainers were Future Retails, Linde India, and Alok Industries and the top losers were Chambal Fertiliser, TV18 Broadcast, and APL Apollo
The most active stocks in the Nifty index in terms of value were HDFC Bank, reliance, and Tata Steel. The most active stocks in terms of volume were ITC, Tata Motors, and IOC
On a sectoral front, Metals, Pharma, Oil & Gas, Media, and IT were closed in the green today. The sectors that closed in the red today were Auto, Financial, Banking, and Realty
You may also like to read, Stock Market Prediction Next Week (21 – 25 March 2022)
Trade setup for Wednesday 23 March 2022- Morning report
Happy Investing!!
Editorial desk
