Sensex, Nifty erase early losses, end higher today
Sensex, Nifty Today: Indian stock markets opened slightly higher on Monday despite negative cues from the other Asian markets. The Nifty today opened at 17181.85 levels, up by 28.85 points while Sensex made a positive opening of 110.52 points at 57472.72 levels. Markets slipped immediately after opening due to negative cues from the other Asian market peers and traded below their natural lines in the morning deal.
Stock Market News today
The market sentiments were negative in the morning deal due to the sharp rise in covid cases in Shanghai and worries about supply chain disruption. Further, the sentiments remained downbeat as depositories data showed that foreign investors have pulled out a net of Rs 114855.87 crore from the Indian markets in the current year so far, due to heightened geopolitical tensions and inflation concerns. FPI has sold domestic equities worth Rs 48261.65 crore so far in March 2022, almost 40% of the total outflow.
However, the decline in crude oil prices has supported the markets and helped to recover early losses. Markets have also got some support after Union Minister Ashwini Vaishnaw’s statement that the Indian economy can grow consistently at 8 percent for the next 20 years leading to the generation of up to 1.5 crore new jobs and bringing out 3.5 crore people out of the poverty every year on the basis of the capital investment strategy of the government.
On the global front, the major Asian market indices erased their early losses and closed in the green. The negative market sentiments got reversed as profit growth at China’s industrial firms accelerated in January-February in line with others signs of momentum in the economy. European market indexes are trading higher as investors are eyed another round of peace talks between Russia-Ukraine in Turkey.
Sensex, Nifty indexes at the close today
At the close, the Nifty index gained 69 points or 0.40 percent and closed at 17222 levels while Sensex was up by 231.29 points or 0.40 percent and finished at 57593.49 levels. The Bank Nifty index ended higher by 300.40 points or 0.85 percent on spot and ended at 35710.50 levels.
The broader markets underperformed as compared with benchmark indices today. The Nifty midcap index was down by 53.35 points or 0.18 percent and closed at 29221.20 levels. The Nifty smallcap index closed lower by 74.85 points or 0.73 percent and finished at 10229.60 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Bharti Airtel, Coal India, Axis Bank, Eicher Motors, and ICICI Bank whereas the top losers were UPL, Nestle, Dr. Reddy’s Lab, HDFC, and SBI Life.
The top gainers in the Nifty midcap index were Tata Elxi, Adani Total Gas, Prestige Estate, and the top losers were Dhani Services, Escorts, and Endurance Tech
The smallcap top gainers were Sunteck Realty, GNFC, and VIP Industries and the top losers were Future Retail, IOL Chemicals, and Tanla Platforms
The most active stocks in the Nifty index in terms of value were Reliance, HDFC bank, and HDFC The most active stocks in terms of volume were ITC, Coal India, Tata Motors.
On a sectoral front, the Metals, Oil & Gas, Banking Auto, and FMCG were closed higher today. The sectors that closed in the red were IT and Pharma
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Happy Investing!!
Editorial desk
