Stock Market Today: Nifty Closes Above 19500, Sensex Gains 241 Points

 

Stock Market Today 4 Sept 2023: Indian stock markets ended the volatile session with moderate gains on Monday. The domestic market sentiments was upbeat following the positive cues from Asian markets. 

The equity benchmarks erased all opening gains after a few minutes of trading in the morning deals, as traders were anxious about the latest RBI data that showed foreign exchange reserves are down by $30 million at $594.85 billion for the week ending August 25.

In the afternoon session markets were bounced back after getting support from European markets. Traders took note of Economic Affairs Secretary Ajay Seth’s statement that the government is confident of meeting the fiscal deficit target of 5.9 percent of gross domestic product (GDP) and the nominal GDP target of 10.5 percent despite pressure in the initial months of FY24.

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 93.50 points or 0.48 percent and closed at 19528.80 levels while the Sensex was up by 240.98 points or 0.37 percent and finished at 65628.14 levels. The Bank Nifty index ended higher by 142.20 points or 0.32 percent on the spot level and closed at 4457830 levels.

The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 384.75 points or 0.98 percent and closed at 39830.35 levels. The Nifty smallcap index ended higher by 164.30 points or 1.33 percent at 12550.75 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Coal India, Wipro, HCL tech, Ultratech Cement, and Tata Steel and the top losers were M&M, Axis Bank, Nestle India, ITC, and Asian Paints

The top gainers in the Nifty midcap index were Indian Railway Fin. Corp, Yes Bank, and Dal Bharat  and the top losers were Gland Pharma, Escorts, and Poonawala Fincorp .

The smallcap top gainers were Rail Vikas Nigam Ltd, Renuka Sugar, Bank Of Maharashtra while the top losers were Bright Com Group, Suzlon Energy, and KEI International. 

The most active stocks in the Nifty index in terms of value were HDFC Bank, Adani Enterprise, and Reliance . The most active stocks in terms of volume were Tata Steel, Coal India, and NTPC.

On the sectoral front, barring FMCG, all other sectoral indices closed in the green. The sectors that gained the most were PSU Bank, Metal, and IT.

 

Global Stock Market Today

 

The other Asian stock markets closed higher on Monday. The Hang Seng index led gains in the region, due to the surge in property stocks, as developer Country Garden Holdings won approval to extend payments for an onshore private bond over the weekend. Investors in the region are now looking ahead to China’s Tarde data and Australia’s interest rate decision later this week. Hang Seng Index (HSI) gained 2.53 percent, while Shanghai index up 1.38 percent.

Japan’s Nikkei closed higher for the sixth straight day, while Australia’s S&P/ASX also ended higher. South Korea’s Kospi extended early gains after initial volatility. Elsewhere, Taiwan and Straits Times closed higher, while the SET composite ended in the red.

European stock markets started the week higher, following the positive cues from Asian markets overnight. The fresh data showed, that German exports dipped but were lower than expected. Investors will keep a close eye on a speech by ECB President Christine Lagarde, later in the day.

 

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Happy Investing!!

Editorial desk