Sensex up 776 pts, Nifty closed above 17400 today
Closing Bell: Sensex up 776 pts, Nifty closed above 17400 today
Indian stock market indexes opened flat on Thursday amid mixed cues from the other Asian market peers. Nifty opened at 17183.20 levels, up by only 16.30 points while Sensex made a positive opening of 96.69 points at 57781.48 levels. Indian markets opened flat to positive despite a sharp fall in the US markets yesterday and negative indication from the SGX Nifty in the morning.
Stock Market News
The domestic markets continued to trade with strength today as buying witnessed in the frontline blue chip counters and taking cues from regional counterparts. The market sentiments remained optimistic as India’s merchandise exports in November rose by 26.49 percent to $29.88 billion on account of healthy growth in sectors such as engineering, petroleum, chemicals, and marine products.
Markets got further support as an industry body- the PHD Chamber of Commerce and Industry (PHDCCI) suggested the rationalization of direct and indirect tax rates. PHDCCI President Pradeep Multani said refueling of consumption demand should be the theme of the Budget to have a multiplier effect on production possibilities, private investments, and employment creation in the country.
On the global front, Asian markets mostly closed in the mixed state due to uncertainty about the new Covid variant- Omicron. European markets are also trading in the deep red following the US markets overnight.
Stock Market at the Close
At the close, Nifty gained 234.75 points or 1.37 percent and closed at 17401.65 while Sensex was up by 776.50 points or 1.35 percent today and finished at 58461.29 levels. The Bank Nifty index also closed in the green today, it closed higher by 143.35 points or 0.39 percent and ended at 36508.25 levels.
The broader markets continued to underperform the benchmark as the nifty midcap and smallcap index closed slightly higher than the previous closing. The Nifty midcap index was up by 340.75 points or 1.14 percent and closed at 30296.45 levels. The Nifty smallcap index gained 65 points or 0.61 percent and finished at 10738.50 levels.
Top Gainers and Losers
The top five gainers in the Nifty index were Adani Ports, HDFC, Power Grid, BPCL, and Grasim. The Nifty top losers were Cipla, ICICI Bank, and Axis Bank.
The top gainers in the Nifty midcap index were GMR Infra, Dhani services, and JSW Energy and the losers were Pfizer, Castrol, and V-Gaurd Ind.
The top gainers in the Nifty smallcap index were Century, CDSL, and IRB Infra and the losers were Trident, Linde India, and CSB Bank.
The most active stocks in the Nifty index in terms of value were ICICI Bank, Reliance, and HDFC. The most active stocks in terms of volume were Power Grid, ICICI Bank, and Tata Motors.
On a sectoral front, all sectors were closed in the green today. the sectors that led the rally were IT, Energy, Metals, Pharma, and Auto.
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Editorial desk
