Stock Market Today: Nifty ends near 17450, Sensex up 213 pts
Stock Market Today Aug 23, 2023: Indian stock market indexes ended higher after initial volatility on Wednesday. The equity benchmarks erased intraday losses in the late morning session and slowly marched northwards, as the session progressed. The equity benchmarks ended in the green for the third straight session on Wednesday.
The market sentiments got boosted as a report said the country`s real GDP growth in the first quarter of the current financial year (Q1FY24) will be better than the Reserve Bank`s estimate of 8 percent. It pegged the growth at 8.3 percent.
The sentiments were further supported as the Indian rupee got appreciated against the US dollar. Indian currency appreciated 25 paise to 82.74 against the dollar at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.
Stock Market Indexes Today
The Nifty 50 index closed higher by 47.55 points or 0.25 percent and closed at 19444 levels while the Sensex was up by 213.27 points or 0.33 percent and finished at 65433.30 levels. The Bank Nifty index ended higher by 485.80 points or 1.10 percent on the spot level and closed at 44479.05 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 150.35 points or 0.39 percent and closed at 38694.65 levels. The Nifty smallcap index ended higher by 107.70 points or 0.91 percent at 11960.20 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Hindalco, Axis Bank, ICICI Bank, SBI, and L&T, and the top losers were Adani Enterprise, Adani Ports, Sun Pharma, Bharti Airtel, and Tata Motors
The top gainers in the Nifty midcap index were PayTM, Sun TV, and Federal Bank and the top losers were Adani Power, Sona BLW, and Trident.
The smallcap top gainers were Jubilant Ingrevia, UCO Bank, and CESE while the top losers were BCG, IIFL, and Borosil
The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Adani Enterprise. The most active stocks in terms of volume were Tata Steel, SBI, and HDFC Bank.
On the sectoral front, PSU Bank, Pvt Bank, and Financial Services gained the most while the sectors that closed in the deep red were Energy, FMCG, and Pharma.
Global Stock Market Today
Asian stock market indexes mostly extended their previous session gains on Wednesday. Japan’s Nikkei closed higher for the third consecutive day, as the country’s business activity expanded at a faster pace in August, according to Jibun Bank flash PMI data.
Shanghai and Kospi ended lower while Hang Seng closed higher in the final hour on Wednesday. Straits Times gained on Wednesday, as Singapore’s core and headline inflation came lower in line with the expectation. Taiwan and SET Composite also closed higher on Wednesday.
European stock market indexes are trading higher on Wednesday following a positive session in Asian markets. Investors are waiting for quarterly earnings of Nvidia shares due later in the day. German business activity fell sharply in August as per Flash PMI data. Eurozone PMI survey came below expectations, as services activity fell into decline.
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Happy Investing!!
Editorial desk
