Nifty Below 19450, Sensex Drops 326 Points, IT Drags, PSU Banks Buck Trend
Sensex and Nifty Today, 13 November 2023: Indian stock market indexes ended lower on Monday. The domestic markets opened negative following weakness in Asian markets. After opening a gap-down, indices traded sideways negative throughout the day.
Traders remained on the sidelines ahead of retail inflation data for October, scheduled to be released post-markets. Some concerns came with the IIP data released by the National Statistical Office (NSO) last Friday post-closing.
The data showed that growth in the Index of Industrial Production (IIP) cooled to a three-month low of 5.8 percent in September from 10.3 percent reported in the previous month, on the back of moderation across all sub-sectors and use-based categories.
Sensex and Nifty Today
The Nifty 50 index closed lower by 82 points or 0.42 percent and closed at 19443.55 levels while the Sensex was down by 325.58 points or 0.50 percent and finished at 64933.87 levels. The Bank Nifty index ended lower by 105.40 points or 0.24 percent on the spot level and closed at 43891.25 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 26.85 points or 0.07 percent and closed at 41009.70 levels. The Nifty smallcap index ended higher by 92.30 points or 0.68 percent at 13610 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Coal India, Eicher Motors, Hindalco, M&M, and BPCL, and the top losers were SBI Life, Bajaj Finance, Infy, Apollo Hospital, and TechM.
The top gainers in the Nifty midcap index were Union Bank, Indian Bank, and BHEL and the top losers were PageIndia, Prestige Estate, and Biocon.
The smallcap top gainers were BSE, Hind copper, and CAMS while the top losers were Glenmark, Medanta, and Chambal Fertilizer.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Coal India, and ICICI Bank. The most active stocks in terms of volume were Coal India, NTPC, and Tata Steel.
On the sectoral front, PSU Bank, Energy, and Metal closed higher while the sectors that declined the most were IT, Financial Services, and Media.
Global Stock Market Updates Today
The other Asian stock market indexes started the week on a mixed note on Monday. The key indexes pared intraday losses and closed mostly in the green. Investors are looking ahead to more economic data in the region this week.
The sentiments remain cautious as US futures are trading in the red. The rating agency Moody’s Investor Services downgraded the rating outlook on the US government during the weekend.
Investors are looking ahead to the talks between the US and China. U.S. President Joe Biden and China’s President Xi Jinping will meet this week for their first in-person meeting in about a year.
Japan’s Nikkei erased all early gains and closed flat to the positive, while Australia’s S&P ASX 200 index extended its early losses and closed lower by 0.40%. South Korea’s Kospi ended lower by 0.25%. The Shanghai index and Hang Seng erased all intraday losses and ended higher by 0.25% and 1.28%. Hang Seng gained the most in the region.
Elsewhere, the Straits Times is not trading today due to a holiday. Jakarta Composite and Taiwan closed in the green, while SET Composite ended in the red on Monday.
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