Stock Market Today: Nifty ends near 18600, Sensex up 240 pts

 

Stock Market Today 5 June 2023: Indian stock markets started the week on a strong note. The equity benchmarks traded above their neutral lines throughout the day amid positive global cues.  The domestic market indices traded in a tight range on Monday.

The global market sentiments were lifted, as US Senate passed a bill to raise the debt ceiling over the weekend, and mixed US job data that pointed to a pause in interest rate hikes in an upcoming Fed meeting.

The market participants took note of the report that India`s service Purchasing Managers` Index (PMI) was recorded at 61.2 in May. Although it is lower than 62 in April, May`s figure is the second-highest since June 2010. A print above 50 in the survey denotes expansion of services activity, and below that suggests contraction. India`s headline figure has been in the expansion zone for 23 months since August 2021.

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 59.75 points or 0.32 percent and closed at 18593.85 levels while the Sensex was up by 240.36 points or 0.38 percent and finished at 62787.47 levels. The Bank Nifty index ended higher by 163.80 points or 0.37 percent on the spot level and closed at 44101.65 levels

The broader markets ended higher in line with their larger peers today, as the Nifty midcap index was up by 48.40 points or 0.14 percent and closed at 34015.20 levels. The Nifty smallcap index closed higher by 37.45 points or 0.36 percent at 10359.05 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were  M&M, Axis Bank, Tata Motors, LT, and Grasim and the top losers were Divis Lab, TechM, Asian Paints, Nestle India, and BPCL

The top gainers in the Nifty midcap index were Trident, Prestige, and Torrent Power and the top losers were Gujarat Fluorochem, AU Bank, and AB Capital

The smallcap top gainers were Mazgaon Dock, Cochin Shipyard, and Primal Pharmawhile the top losers were Brightcom Group, Aegies Chemical, and Cyient.

The most active stocks in the Nifty index in terms of value were HDFC, Bank, Axis Bank, and HDFC The most active stocks in terms of volume were Tata Steel, Power Grid, and Coal India.

On the sectoral front, Nifty Auto, Media, and Energy closed higher while the sector that closed in the red were FMCG, PSU Bank, and IT.

 

Global Stock Market Today

 

On the global front, Asian markets closed in the green after U.S. President Joe Biden signed into law a debt ceiling bill during the weekend, that allowed the U.S. to avoid defaulting on its financial obligations. Japan’s Nikkei ended over 2% higher, gaining the most in the region, as the service activity expanded to a record high in May.

Meanwhile, China’s service activity in May inched higher while Hon Kong’s service activity slows in May compared to the previous month. Shanghai and Hang Seng indexes closed in the green today.

European stock market indexes are mostly trading higher on Monday following the positive cues from US and Asian markets. FTSE trading higher as oil & gas stocks are trading higher after Saudi Arabia announced to cut production overnight.

 

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Happy Investing!!

Editorial desk