Sensex and Nifty index end flat ahead of Fed’s minutes

 

Sensex and Nifty Index Today: Indian stock markets made a positive start on Wednesday following positive cues from Asian and other global markets. The Nifty index opened at 18325.20 levels, up by 81 points while the Sensex made a positive opening of 360.75 points at 61779.71 levels. Indian markets trimmed most of their early gains and closed marginally higher today.

 

Stock market news and updates today

 

Soon after opening, Indian markets trimmed some early gains and traded sideways for most of the session. The market sentiments were positive as the Organisation for Economic Cooperation and Development (OECD) in its latest report on Tuesday said that India, with a growth rate of 6.6 percent in the current financial year, would be the second-fastest growing economy in the G20 in FY 2022-23 behind Saudi Arabia, despite decelerating global demand and the tightening of monetary policy to manage inflationary pressures.

However, gains remained capped due to the depreciation in the Indian rupee against the US dollar and as FIIs were the net seller in the Indian equity markets. Investors also remain cautious as Fed’s minutes are due later in the day.

On the global front, Asian markets mostly closed in the green on Wednesday tracking positive cues from the US markets overnight. Investors were cautious ahead of the eurozone economic data and the US Federal Reserve’s latest meeting minutes. European benchmarks are trading higher on Wednesday ahead of the crucial data.

 

 

Sensex and Nifty index at the close

 

The Nifty 50 index was up by 23.05 points or 0.13 percent and closed at 18267.25 levels while the Sensex gained by 91.62 points or 0.15 percent and finished at 61510.58 levels. The Bank Nifty index closed higher by 272.05 points or 0.64 percent on the spot level and ended at 42729.10

The broader markets outperformed the benchmarks today, as the Nifty midcap index gained by 80.65 points or 0.26 percent and at 31150.65 levels. The Nifty smallcap index was up by 51.60 points or 0.54 percent at 9691.30 levels.

 

Nifty 50 index top gainers and losers today

 

The top gainers in the Nifty 50 index were Apollo Hospital, JSW Steel, HDFC life, SBI, and Bajaj Finance and the top losers were Adani Enterprise, Power Grid, Adani Ports, Hero Motorcorp, and Tech Mahindra

The top gainers in the Nifty midcap index were CESC, GMR Airports, and Syngene Intl and the top losers were Hind Zinc, Castrol, and Emami

The smallcap top gainers were NBCC, Rail Vikas, and Ircon International while the top losers were Avanti Feeds, Ceat, and EID Parry

The most active stocks in the Nifty index in terms of value were Adani Enter, ICICI Bank, and HDFC Bank The most active stocks in terms of volume were Tata Steel, SBI and NTPC

On the sectoral front, Metals, IT, and Consumer Durables closed marginally lower while PSU Bank, Media, Healthcare, Banking, and Financial Services closed higher today

 

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Happy Investing!!

Editorial desk