Stock Market Today: Nifty end above 16700, Sensex up 390 pts
Sensex and Nifty Today– Indian stock market indexes opened higher on Friday tracking positive cues from the Asian and Wall Streel. Nifty today opened at 16661.25 levels, up by 56 points while Sensex made a higher opening of 118.89 points at 5588.84 levels. Indian markets traded comfortably above their neutral line and closed on a strong note today.
Stock Market News and Updates Today
Indian markets were trading in fine fettle on continued buying by the Institutions and retail investors. Sensex and Nifty were closed above their psychological levels due to buying in banking, financials, and basic materials stocks. Gains in frontline blue chip stocks like HDFC Bank, Kotak Mahindra Bank, and ICICI Bank also helped to lift the market sentiments on Friday.
Investors took support with Reserve Bank of India (RBI) Governor Shaktikanta Das’s statement that the Indian economy is relatively better placed amid geopolitical tension, drawing strength from its strong macroeconomic fundamentals. Investors feel optimistic today as Foreign Institutional Investors (FIIs) remained net buyers in the last four trading sessions, as per the exchange data showed.
On the global front, the other Asian markets were mostly closed higher on Friday mirroring Wall Street gains overnight. The sentiments were positive after a new set of strong US corporate results was announced on Thursday, partially offsetting global recession fears. European markets are trading marginally higher after taking positive cues from their Asian peers but remain cautious as ECB surprisingly hiked its interest rate by 50 basis points on Thursday.
Sensex and Nifty at the close today
The Nifty index gained 114.20 points or 0.69 percent and closed at 16719.45 levels while Sensex was up by 390.28 points or 0.70 percent and finished at 56072.23 levels. The Bank Nifty index ended higher today by 537.95 points or 1.49 percent on the spot level and ended at 36738.95
The broader markets underperformed the benchmarks indices, as the Nifty midcap index declined by 1.30 points and closed at 29047.85 levels. The Nifty smallcap index closed higher by 33.85 points or 0.37 percent and finished at the 9128.75 level
Nifty top gainers and losers today
The top gainers in the Nifty50 index were Ultratech Cement, Grasim, UPL, HDFC, and HDFC Bank whereas the top losers were Tata Cons. Prod, Infosys, NTPC, Power Grid, and JSW Steel
The midcap top gainers were Guj State Petro, AB Capital, and Dalmia Bharat and the top losers were Syngene Intl, Indiamart Inter, and Prestige Estate.
The top gainers in the Nifty smallcap index were Aegis Logistics, Kajaria Ceramics, and Rain Industries and the top losers were Tanla Platforms, Future Retails, and NBCC (India)
The most active stocks in the Nifty index in terms of value were Reliance, Infy, and ICICI Bank The most active stocks in terms of volume were SBI, ICICI Bank, and ONGC.
On the sectoral front, the sectors that closed higher today were Financial, Banking, FMCG, Auto, and Realty. The sectors that closed in the red were IT, Pharma, and Oil & Gas
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