Stock Market Today: Nifty holds 18500, Sensex down 347 pts

 

Stock Market Today 31 May 2023: Indian stock markets pared some intraday losses and closed lower on Wednesday. The Indian equity benchmarks continued to trade lower throughout the day, amid weak global cues. Traders remained cautious ahead of the US debt ceiling vote and remained and the domestic economic data, which are due later in the day.

The market sentiment was downbeat as Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh stated that tightening of interest rates globally and worsening geo-political situation have impacted the foreign direct investment (FDI) inflows into India in 2022-23.

However, traders overlooked data showing that investment in the Indian equity markets through participatory notes is an up trend in the past two months, with the number reaching Rs 95,911 crore in April-end, primarily driven by the country`s robust economic growth. 

 

Stock Market Indexes Today

 

The Nifty 50 index closed lower by 99.45 points or 0.53 percent and closed at 18534.40 levels while the Sensex was down by 346.89 points or 0.55 percent and finished at 62622.24 levels. The Bank Nifty index ended lower by 308.20 points or 0.69 percent on the spot level and closed at 44128.15 levels

The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 126 points or 0.37 percent and closed at 33761.30 levels. The Nifty smallcap index closed higher by 103.80 points or 1.03 percent at 10166.10 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Bharti Airtel, HDFC Life, Kotak Bank, Britannia, and Sun Pharma and the top losers were ONGC, Axis Bank, SBI, Reliance, and Coal India

The top gainers in the Nifty midcap index were Dixon, Coforge, and Escorts and the top losers were Delhivery, JSW Energy, and Torrent Power

The smallcap top gainers were Suzlon, CDSL, and KPI Tech while the top losers were KRBL, Campus, and PPL Pharma

The most active stocks in the Nifty index in terms of value were Kotak, Bank, HDFC Bank, and HDFC The most active stocks in terms of volume were Kotak Bank, ONGC, and Tata Steel

On the sectoral front, Nifty Realty, Pharma, and Media closed higher while the sector that closed in the red were Energy, Financial Services, and Metal

 

Global Stock Market Today

 

On the global front, Asian markets closed lower, as investors were cautious ahead of the U.S. Congress`s approval of the debt deal, and fresh concerns about China`s weak manufacturing activity data. China`s factory activity contracted faster than expected in May on weakening demand, increasing pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower.

European stock markets are trading lower on Wednesday as signs that China’s economy was faltering and the ongoing US debt ceiling saga hit market sentiments.

 

If you like the post “Stock Market Today: Nifty holds 18500, Sensex down 347 pts” please share it with others.

 

You may also like to read,  Stock Market Prediction Next Week (29 May- 2 June 2023)

                                                 Trade Setup for Wednesday 31 May: Stock Market Today

 

Happy Investing!!

Editorial desk