Sensex, Nifty erase intraday losses and end flat, Reliance tank 7%
Sensex and Nifty Today: Indian equity benchmarks opened in the red on Friday amid weak global cues. Nifty today opened at 15703.70 levels down by 76.55 points from the previous close, while Sensex made a negative opening of 155.6 points at 52863.34 levels. In the end, the domestic markets erased all intraday losses and closed flat.
Stock Market News and Updates Today
Other than the negative global cues, heavy selling in energy and oil & gas stocks kept Indian stock markets weak in today’s session. The heavyweight Reliance Industries dropped more than 7% after the government on Friday announced an increase in tax on petrol, diesel, and aviation turbine fuel. The traders were cautious, as the RBI said that financial risks associated with the profile of government debt can hamper the functioning of fixed-income markets.
On the economic front, the seasonally adjusted S&P Global India Manufacturing PMI Index stood at 53.9 in June, lower than 54.6 in May. The data showed was the weakest pace of growth since September. However, the Indian benchmark indices trimmed some intraday losses after the announcement of GST collections rose to Rs 1.45 lakh crore in June from Rs 1.41 lakh crore in May. This is the second-highest monthly total and a gain of 56% from the same period last year.
On the global front, the other Asian markets were mostly closed in the red on Friday. China’s manufacturing activities bounced back in June, growing at its fastest in 13 months amid a robust revival in production due to the lifting covid restrictions, a Caixin survey showed. European markets are trading in the green on Friday, but the sentiments remain cautious on Friday.
Sensex and Nifty at the close today
The Nifty index declined by 28.20 points or 0.18 percent and closed at 15752.05 levels while Sensex was down by 111.01 points or 0.21 percent and finished at 52907.93 levels. The Bank Nifty index ended higher today by 114.35 points or 0.34 percent on the spot level and ended at 33539.45
The broader markets outperformed today, the Nifty midcap index gained by 134.55 points or 0.51 percent and closed at 26587.30 levels. The Nifty smallcap index closed higher by 32.30 points or 0.38 percent and finished at the 8477.55 level
Nifty top gainers and losers today
The top gainer in the Nifty50 index was ITC, Bajaj Finance, Bajaj Finserve, Cipla, and Britannia whereas the top losers were ONGC, Reliance, Power Grid, Bajaj Auto, and Bharti Airtel
The midcap top gainers were Federal Bank, Godrej Prop, and Manappuram Fin, and the top losers were Oil India, SRF, and ICICI Securities.
The top gainers in the Nifty smallcap index were Amber Enterprise, KEI Industries, and delta Corp and the top losers were Affle India, Birla Corp, and Century Plyboard.
The most active stocks in the Nifty index in terms of value were Reliance, ONGC, and ITC. The most active stocks in terms of volume were. ONGC, reliance, and ITC
On a sectoral front, barring oil and gas all other sectoral indices were closed higher today. The sectors that led the rally were FMCG, Realty, Healthcare, Financial Services, and IT.
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