Stock Market Today: Nifty Ends Near 18350, Metal Stocks Shine

May 23, 2023 admin

Nifty and Sensex Today 23 May 2023: The Indian stock market indexes ended marginally higher for the third straight session on Tuesday. The domestic markets remained positive throughout the session and trimmed their intraday gains in the last hour. The sentiments were supported by the appreciation of the Indian rupee against the dollar at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.

The shares of Adani Group companies were traded higher for a third consecutive day after an interim report by the Supreme Court (SC)-appointed panel last Friday did not find any conclusive evidence to support allegations made by the US-based short seller Hindenburg Research.

Stock Market Indexes Today

The Nifty 50 index closed higher by 33.60 points or 0.18 percent and closed at 18348 levels while the Sensex was up by 18.11 points or 0.03 percent and finished at 61981.70 levels. The Bank Nifty index ended higher by 69.35 points or 0.16 percent on the spot level and closed at 43954.45 levels

The broader markets also closed higher today, as the Nifty midcap index outperformed the benchmarks, ended higher by 205.50 points or 0.63 percent, and closed at 32961.90 levels. The Nifty smallcap index closed slightly higher by 1.90 points or 0.02 percent at 9948.25 levels.

Nifty 50 top gainers & losers

The top gainers in the Nifty 50 index were Adani Enterprise, Divis Lab, Bajaj Finserve, Eicher Motors, and UPL and the top losers were TechM, Apollo Hospital, Grasim, HCL Tech, and Titan

The top gainers in the Nifty midcap index were Gland Pharma, BalKrishna Ind, and Adani Power and the top losers were Persistent, Polycab, and Coforge

The smallcap top gainers were TV 18 Broadcast, MCX, and Brightcom Group while the top losers were KEC International, Maha Bank, and FSL

The most active stocks in the Nifty index in terms of value were Adani Enterprise, Adani Ports, and HDFC Bank. The most active stocks in terms of volume were Adani Port, Adani Enterprise, and Tata Steel

On the sectoral front, Nifty Metal, Media, and Auto closed higher while the sector that closed in the red were IT and Realty

Global Stock Market Today

On the global front, Asian markets closed mixed on Tuesday as the US debt ceiling talks ended without any deal. A private survey data showed that Japan’s factory activity expanded in May for the first time since October 2022, while Singapore’s inflation rose higher than expected in April. Nikkei reversed early gains and closed lower, snapping its seven days winning streak. Hang Seng and Shanghai also ended in the red on Tuesday.

European stock market indexes are trading mostly lower as investors are concerned about the slow progress of US debt ceiling negotiation talks. The downside was capped as the economic data showed that the eurozone composite PMI jumped to 54.1 from 52 in March, mainly driven by services as manufacturing stagnated.

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Editorial desk