Stock Market Today: Nifty ends above 18600, Sensex up 123 pts

 

Stock Market Today 30 May 2023: Indian stock markets ended marginally higher on Tuesday, following positive cues from Asian markets. The domestic markets were traded highly volatile in a narrow range throughout the day.

The market sentiments were positive, as the Reserve Bank of India (RBI) said that the country’s growth momentum is likely to sustain in 2023-24 due to ease in inflationary pressure. RBI forecasted 6.5% growth in FY24 in its annual report on 30 May. 

According to RBI inflation trajectory is expected to move down to 5.2 percent this fiscal from the average level of 6.7 percent recorded last year. Besides, it said that CAD is expected to remain moderate on the back of robust services exports, the salubrious impact of moderation in commodity prices of imports.

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 35.20 points or 0.19 percent and closed at 18633.85 levels while the Sensex was up by 122.75 points or 0.20 percent and finished at 62969.13 levels. The Bank Nifty index ended higher by 124.45 points or 0.28 percent on the spot level and closed at 44436.35 levels

The broader markets also gained in line with their larger peers today, as the Nifty midcap index was up by 84.30 points or 0.25 percent and closed at 33635.30 levels. The Nifty smallcap index closed higher by 21.70 points or 0.22 percent at 10062.30 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Bajaj Finserve, Kotak Bank, Bajaj Finance, HDFC Life, and HCL Tech and the top losers were Hindalco, Adani Enterprise, TechM, Tata Steel, and Sun Pharma

The top gainers in the Nifty midcap index were Auro Pharma, PFC, and Ramco Cement and the top losers were Balkrishna Ind, Adani Power, and Devyani International.

The smallcap top gainers were Birla Corporation, RBL Bank, and Sapphire while the top losers were Campus, Rail Vikas Nigam, and Welspun India

The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Kotak Bank. The most active stocks in terms of volume were Tata Steel, ITC, and HDFC Bank

On the sectoral front, Nifty Media, FMCG, Financial Services, and Bank closed higher while the sector that closed in the red were Metals, Auto, Realty, and Energy

 

Global Stock Market Today

 

On the global front, Asian markets were mostly closed higher on Tuesday due to the optimism about the US debt ceiling deals. Nikkei closed higher to its highest levels in 33yrs, as Japan’s unemployment rate declined slightly in April compared to the previous month. Kospi gained over 1 percent as investors returned after a long weekend.

Hang Seng index snapped a four-day losing streak and closed higher despite Hong Kong`s exports continuing to decline in April and at a faster pace. The Shanghai index closed higher rebound from its lowest level since November 2022.

European stock market indexes are trading mixed as investors are cautious about the US debt ceiling developments. The Republican lawmakers on the party’s hard right said on Monday, they would oppose the deal reached by President Joe Biden and House Speaker Republican Kevin McCarthy over the weekend.

 

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You may also like to read,  Stock Market Prediction Next Week (29 May- 2 June 2023)

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Happy Investing!!

Editorial desk