Stock Market Today: Nifty Surges 37 Points, Sensex Climbs 79 Points

 

Stock Market Today Aug 29, 2023: Indian stock market indexes ended marginally higher on Tuesday. The domestic markets gained for the second straight session amid positive global cues. The upside remains capped due to FII selling pressure and ahead of crucial economic data later this week, both domestically as well from the US markets.

Traders got some encouragement, as India Ratings said with the falling trade deficit, India`s current account deficit is likely to narrow to around $10 billion or 1 percent of GDP in the April-June quarter of the ongoing fiscal. The country`s current account deficit (CAD) stood at $18 billion or 2.1 percent in the corresponding period of the previous fiscal.

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 36.60 points or 0.19 percent and closed at 19342.65 levels while the Sensex was up by 79.22 points or 0.12 percent and finished at 65075.82 levels. The Bank Nifty index ended flat at 44495.25 on the spot level.

The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 132.65 points or 0.34 percent and closed at 38794.80 levels. The Nifty smallcap index ended higher by 64.55 points or 0.54 percent at 12021.65 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Hindalco, UPL, Adani Ports, Hero Motors, and Tata Steel and the top losers were Bharti Airtel, HUL, Axis Bank, Reliance, and Dr. Reddy

The top gainers in the Nifty midcap index were Deepak Nitrate, JSW Engineering, and BHEL and the top losers were Union Bank, PEL, and TTML

The smallcap top gainers were Balaji Aminies, Deepak Fertiliser, and Vardhaman Textile while the top losers were Brightcom Group, JB Chemical Pharma, and VIP Industries

The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and Bharti Airtel.

On the sectoral front, the Nifty Realty, Metal, and Media closed higher while the sectors that closed in the red were PSU Bank, FMCG, and Pharma

 

Global Stock Market Today

 

Asian stock markets closed higher on Tuesday, among the major indexes, the Shanghai and Hang Seng extended their early gains and closed on a strong note on Tuesday. The market sentiments were improved, as traders were encouraged after the US-China agreed to smoothen the economic relations including business and trade on Monday.

Nikkei ended marginally higher by 0.18 percent, as Japan’s unemployment rate for July came higher than expected. Shanghai and Hang Seng closed higher by 1.19 percent and 1.91 percent respectively. China’s Shenzen Composite gained the most in the region, up by 2.16 percent due to a rally in tech and industrial stocks.

The other major indexes in the region, Kospi, Straits Times, SET Composite, and Taiwan also ended higher on Tuesday. European markets are trading higher on Tuesday following the positive cues from Wall Street and Asian markets. Investors are now looking ahead to the fresh economic data later this week.

 

If you like the post “Stock Market Today: Nifty Surges 37 Points, Sensex Climbs 79 Points” please share it with others.

 

You may also like to read,  Gift Nifty: The Rebranded SGX Nifty Starts Trading July 3rd

                                                   Stock Market Prediction Next Week (28 Aug-1 Sept 2023)

 

Happy Investing!!

Editorial desk