Stock market indexes recovered early losses amid volatility
Indian stock market indexes opened a gap down on Monday, as indicated by the SGX Nifty in the morning. Nifty today opened at 16924.45 levels down by 178.1 points while Sensex made a negative opening of 631.42 points at 56429.45 levels. The market trimmed its early losses and later closed marginally lower today.
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Indian equity market indexes continued their bearish trend in the morning session tracking selling in index majors Wipro, SBI, and Asian Paints along with subdued global trends. The market sentiments remained negative as the RBI in its Report on Currency and Finance for 2021-22 stated that India’s economy may take more than a decade to overcome the losses emanating from the Covid-19 pandemic. The report has estimated the output losses during the pandemic period of Rs 52 lakh crore.
However, markets trimmed their early losses in the morning deal as the manufacturing activity has slightly improved as compared to the previous month. The S&P Global India Manufacturing Purchasing Managers‘ Index (PMI) rose in April, coming in at 54.7, up from 54.0 in March.
On the global front, the other major Asian markets closed in the red on Monday. Shanghai, Hang Seng, and Taiwan were closed today due to labor day. China’s factory activity shrank at the sharpest pace in 26 months in April 2022 due to a surge in covid cases and lockdowns. European markets are trading lower today following negative cues from Wall Street on Friday
Nifty and Sensex indexes at the close today
At the close, the Nifty index declined by 33.45 points or 0.20 percent and closed at 17069.10 levels while Sensex was down by 84.88 points or 0.15 percent and finished at 56975.99 levels. The Bank Nifty index ended marginally higher today by 75.60 points or 0.21 percent on spot and ended at 36163.75 levels.
The broader markets were underperformed today as compared to the benchmark. The Nifty midcap index was down by 176.95 points or 0.59 percent and closed at 29703.40 levels. The Nifty smallcap index closed lower by 137.30 points or 1.34 percent and finished at 10119.65 levels.
Nifty top gainers and losers today
The top gainers in the Nifty 50 index were IndusInd Bank, Coal India, Tata Steel, Power Grid, and HDFC whereas the top losers were Apollo Hospital. Eicher Motors, Titan Company, Bajaj Auto, and Wipro
The top gainers in the Nifty midcap index were Tata Chemicals, Godrej Agrovet, and Ajanta Pharma and the top losers were Dixon Technology, Aarti Ind, and Dr. Lal Path Lab.
The smallcap top gainers were Can Fin Homes, Kaveri Seeds, and Amber Enterprises and the top losers were CDSL, Thyrocare, and Just Dial
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and Axis Bank The most active stocks in terms of volume were ONGC, Wipro, and Coal India
On a sectoral front, the sectoral indices closed in the red today were IT, Auto, Consumer Durables, and Pharma. The sectoral indices that closed higher today were Metals, Media, Bank, Realty, and FMCG.
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