Stock market closing bell today | Weekly markets updates

Stock market closing bell today: Key indices touched a record high, Nifty hits 15000

 

Stock market closing bell today: Indian markets opened higher in the morning as indicated by the global peers. Positive cues from other Asian markets helped key indices to remain higher in the morning session. Markets traded volatile in the morning session due to RBI Monetary Policy outcome. In the end, key benchmark indices closed marginally higher today.

 

RBI Monetary Policy Updates

 

Domestic market sentiments remained positive after RBI decided to leave the interest rates unchanged at 4% and also maintained an accommodative stance. The RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) voted unanimously to keep the policy rates as status quo. The Monetary Policy Committee has also pegged real GDP growth at 10.5% in 2021-22.

RBI has also said interest rate cuts cannot be ruled out in the future if the need arises to support the economy hit by the coronavirus pandemic.  The inflation has eased below the tolerance level of 6% and the outlook on growth has improved significantly in the last few months.  While maintaining the accommodative stance, RBI Governor Das said that it may continue as long as required to support the growth. 

 

Global stock markets updates today

On the global front, Asian markets were mostly closed in the green today. European markets are trading higher due to better than quarterly earnings results. The US futures Dow and Nasdaq futures are trading marginally higher.

 

Stock market closing bell today

 

At closing today, stock market key indices Nifty gained 28.60 points or 0.20% and at 14924.25 while Sensex was up 117.34 points or 0.24% and ended at 50731.63 levels. The Bank Nifty on the spot price trimmed early gains and closed at 309.70 points higher or 0.88% and finished at 35654.50 level.

The Nifty midcap and smallcap 100 indices closed mixed today. The midcap 100 index fell 247.25 points or 1.09% and closed at 22425.90. The Nifty smallcap 100 index gained 20.05 points or 0.26% and ended at 7637 levels.

The top five gainers in the Nifty50 index were SBI, Tata Steel, Divis Lab, Kotak Mahindra, and Dr. Reddy’s Lab. The top five losers in the Nifty50 index were Axis Bank, Bharti Airtel, Tata Motors, ICICI Bank, and UPL. The most active stocks in the Nifty50 index for the day were SBI, Tata Motors, and Kotak Mahindra Bank.

On a sectoral front, Banking, Real Estate, Healthcare, Manufacturing, and Consumer Durable sectors closed higher today. On the losing side, Telecom, Automobiles, IT & Software, capital Goods, and Media sectors closed in the red today.

 

Indian stock market on a weekly closing

 

Indian stock markets on a weekly closing basis gained more than 9 percent. The markets gained due to measures announced in the Union Budget, decent Auto sales number, strong PMI numbers, and positive global cues. Sensex on a weekly basis gained 4445.86 points or 9.60% and closed at 50731.63 levels while Nifty jumped 1289.65 points or 9.48% and ended at 14924.25 levels. The Bank Nifty on the spot price gained 5089 points or 16.63% and closed at 35654.5 level.

The midcap and smallcap index also closed higher on a weekly basis. The Nifty midcap index up by 1516.05 points or 7.25% and closed at  22425.9 levels. The small-cap index closed higher by 460.15 points or 6.39% and ended at  7637 levels

 

F&O market updates today: Nifty & Bank Nifty futures 

 

The Nifty futures share price today opened at 14949.95, it made a positive opening of 54.6 points. It has touched an intraday high at 15008 and a day’s low at 14866

The Nifty futures share price has given a movement of 142 points. In the end, it gained 51.4 points or 0.35% and closed at 14946.75levels.

The Bank Nifty futures share price opened at 35575.90 It made a gap up opening of 223.85 points today. It has touched an intraday high at 36640 and a day’s low at 35527

During the day, the Bank Nifty futures share price has given a movement of 1113 points. In the end, it gained 439.95 points or 1.24% and closed at the 35792 levels.

 

Conclusions:

Indian stock markets erased most of their early gains at closing today. The key indices closed marginally higher after a volatile trading session. Nifty hits 15000 just after few minutes of trading in the morning. On a weekly basis, key indices Sensex and Nifty gained more than 9% and Bank Nifty jumped above 16%. Indian markets are looking strong but correction at a higher level also cannot be ruled out.

You can follow our next week’s stock recommendations and key factors that are going to impact the stock markets next week reports on Saturday and Sunday.

 

You may also like to read,  Intraday Trading books to make money from Stock Markets

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Happy weekend !!

Editor’s Desk