Stock Market Today: Nifty Closes Above 19700, Sensex Gains 385 Points
Stock Market Today 7 Sept 2023: Indian stock markets ended the volatile session with moderate gains on Thursday. The domestic markets opened lower amid negative global cues, but recovered in the late morning session and gradually marched northwards.
Other than weak global cues, the domestic market sentiments were subdued in the morning deal due to a surge in crude oil prices and FII outflow. The provisional data from the National Stock Exchange (NSE) showed foreign institutional investors (FII) sold shares worth Rs 3,245.86 crore on September 6. However, in the afternoon session markets bounced back and closed on a strong note.
Stock Market Indexes Today
The Nifty 50 index closed higher by 110.25 points or 0.56 percent and closed at 19721.30 levels while the Sensex was up by 385.03 points or 0.58 percent and finished at 66265.56 levels. The Bank Nifty index ended higher by 427.10 points or 0.96 percent on the spot level and closed at 44836.20 levels.
The broader markets also closed higher in line with their larger peers today, as the Nifty midcap index was up by 307 points or 0.76 percent and closed at 40591.10 levels. The Nifty smallcap index ended higher by 64.15 points or 0.51 percent at 12739.05 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Coal India, L&T, IndusInd Bank, SBI Life, and TechM and the top losers were Tata Consumer, Britannia, Sun Pharma, Infy, and M&M.
The top gainers in the Nifty midcap index were IRFC, Devtyani Internation, and PFC and the top losers were Poonawala Fincorp, Polycab, and IDFC First.
The smallcap top gainers were Cochin Shipyard, Mazgaon Dock, and IRB while the top losers were FACT, Brightcom Group, and IndiaMart.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Coal India, and Reliance. The most active stocks in terms of volume were Coal India, Tata Steel, and NTPC.
On the sectoral front, Realty, PSU Bank, and Media closed higher while the sectors that closed in the red were FMCG, Pharma, and Metal.
Global Stock Market Today
The other Asian stock markets mostly closed lower on Thursday following the negative cues from Wall Street overnight. The market sentiments were hit as China’s exports and imports data fell more than expected in August. Meanwhile, Australia’s trade surplus data narrowed in July but missed the estimates
Japan’s Nikkei ended lower, snapping gains of eight consecutive days. Australia’s S&P/ASX 200 fell sharply lower while South Korea’s Kospi also ended in the red. Hang Seng and Shanghai extended early losses and closed lower. Elsewhere, Straits Times and Taiwan ended in the red, while SET Composite closed positive.
European markets were opened negatively following the weak cues from Wall Street and Asian markets, however, later indexes turned positive and are trading higher. German industrial production fell in July, as manufacturing activity struggled due to high inflation and cost. The Eurozone GDP revised down to 0.1% vs. 0.3% previous and estimated was 0.3% in the second quarter.
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Editorial desk
