Stock Market Today: Nifty Above 19500, Sensex Up 406 Points, Media, Auto, IT Gain

October 5, 2023 admin

Stock Market Today, 5 Oct 2023: Indian stock market indexes advanced on Thursday. The domestic markets opened higher amid positive global cues, as US Treasury yields pulled back on Wednesday after weaker than expected job report.

The market sentiments were further boosted as crude oil prices came off from the recent highs, helping ease concerns around inflation and further interest rises. Further, the local markets got support, as India`s services sector strengthened further in September, witnessing the strongest output in 13 years.

India`s S&P Global`s services PMI stood at 61 in September, up from 60.1 in August. The reading was above the 50-mark separating growth from contraction for the 26th consecutive month.

Stock Market Indexes Today

The Nifty 50 index closed higher by 109.65 points or 0.56 percent and closed at 19545.75 levels while the Sensex was up by 405.53 points or 0.62 percent and finished at 65631.57 levels. The Bank Nifty index ended higher by 249.30 points or 0.57 percent on the spot level and closed at 44213.35 levels.

The broader markets also closed mixed today, as the Nifty midcap index was slightly down by 1.50 points and closed at 40046 levels. The Nifty smallcap index ended higher by 79.25 points or 0.63 percent at 1273525 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were L&T, Bajaj Auto, Titan, TCS, and Infy and the top losers were Power Grid, Hindalco, NTPC, Tata Consumer, and Cipla.

The top gainers in the Nifty midcap index were Prestige, Sun TV, and PayTM and the top losers were Navin Fluorine, Union Bank, and Oberoi Realty.

The smallcap top gainers were Angelone, Suzlon, and Bsoft while the top losers were RBL Bank, Aavas Financer, and PNB Housing.

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

On the sectoral front, Media, Auto, and IT closed higher while the sectors that closed in the red were PSU Bank, Pharma, and Energy

Global Stock Market Updates Today

Asian stock markets mostly closed higher on Thursday, as the US 10-year Treasury yield eased from its multiyear high after weaker-than-expected private job data. Japan’s Nikkei extended early gains and closed higher by 1.72 percent while Australia’s S&P/ASX 200 also gained 0.51 percent.

China’s Shanghai index closed today due to a weeklong holiday. South Korea’s Kospi erased early gains and ended slightly lower, while Hang Seng trimmed early gains and ended slightly higher by 0.10 percent. Elsewhere, Straits Times and Taiwan closed positive while the SET Composite ended lower.

European stock market indexes opened higher following the positive cues from Wall Street overnight, indexes are trading mixed at 3:30 p.m IST. The UK’s Metro Bank declined more than 25 percent after it was suspended trading twice on early Thursday, while France train manufacturer Alstom also fell around 35% on Thursday.

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Stock Market Prediction Next Week (25- 29 Sept 2023)

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Editorial desk