Stock Market Today 23 Aug 2022: Sensex, Nifty end higher
Stock Market Today 23 Aug 2022: Indian stock market indexes opened a gap-down on Tuesday amid negative global cues. Nifty today opened at 17357.15 levels down by 133.35 points while Sensex made a negative opening of 567.9 points at 58205.97 levels. Indian stock markets erased all losses immediately after opening a gap-down and traded volatile throughout the day, at the close markets ended higher today.
Stock market News and Updates Today
Other than the negative global cues, the domestic market sentiments remained downbeat as the government introduced a new set of rules for domestic entities, including companies and large family offices and start-ups opting for overseas investment routes (ODI) which could impact their acquisition decisions in a big way.
However, the downside of the markets was limited, as a private report stated that the Reserve Bank’s rate-setting panel is likely to opt for slowing down the pace of hikes and will increase the repo rate by 0.25 percent in September. The RBI has already hiked 1.40 percent since May 2022, in response to higher inflation that breaches the upper end of the tolerance band set by the central bank.
The RBI has set a two-year timeframe to bring down inflation closer to its 4% target, according to the RBI governor Shaktikanta Das’s latest interview on a television channel on Tuesday.
On the global front, the other Asian market indices mostly closed in the red today tracking the negative cues from Wall street overnight. The market sentiments were also dented as the manufacturing sectors in Japan continued to expand in August albeit at a slower rate, as per the latest survey from the Jibun Bank showed on Tuesday. European markets are trading volatile amid concerns about high inflation and the energy crisis in the region
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Nifty 50 and Sensex at the close today
The Nifty 50 index was up by 86.80 points or 0.50 percent and closed at 17577.50 levels while the Sensex gained by 257.43 points or 0.44 percent and finished at 59031.30 levels. The Bank Nifty index ended higher today by 399.90 points or 1.04 percent on the spot level and ended at 38697.65
The broader markets outperformed the benchmarks, as the Nifty midcap index was up by 355.15 points or 1.17 percent and closed at 30734.65 levels. The Nifty smallcap index closed higher today by 106.15 points or 1.14 percent at 9410.10levels.
Nifty top gainers and losers today
The top gainers in the Nifty 50 index were M&M, Eicher Motors, Bajaj Finserve, Titan Company, and Tata Steel whereas the top losers were Infosys, TCS, Divis Labs, HCL Tech, and HUL
The midcap top gainers were RBL Bank, IDFC First, and Dhani Services and the top losers were Mphasis, Sun TV, and Tata Elxsi
The top gainers in the Nifty smallcap index were Sterling Wilson, Future Retail, and Delta Corp and the top losers were Affle India, Tanla Platforms, and Sun Pharma.
The most active stocks in the Nifty index in terms of value were Reliance, Bajaj Finserve, and ICICI Bank The most active stocks in terms of volume were Tata Steel, ONGC, and Tata Motors
On the sectoral front, barring IT all other sectoral indices closed in the green today. The sectors that led the rally were PSU Bank, Auto, Metals, Oil & Gas, and Banking
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