Stock Market Today, 1 February 2024: Indian stock markets ended the volatile session with minor cuts on Thursday. The domestic markets opened higher amid weakness in the global markets and traded volatile after the Interim Budget 2024 presentation.
The market Sentiments got a boost in the morning session, as India’s final manufacturing PMI data showed that manufacturing activity accelerated in January. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index(PMI) recovered from an 18-month low of 54.9 in December to 56.5 in January.
Some support also comes as the provisional Goods and services tax (GST) collections hit the second-highest monthly figure ever at over Rs 1.72 trillion in January, growing by 10.4% over Rs 1.56 trillion from the same month in the previous year. These GST figures were till 5 pm on January 31, and the final collection for the month would be higher.
However, the downside of markets was capped as investors were encouraged after the provisional data from the NSE showed that foreign institutional investors (FIIs) net bought shares worth Rs 1,660.72 crore on January 31.
Stock Market Today
The Nifty 50 index closed lower by 28.25 points or 0.13 percent and closed at 21697.45 levels while the Sensex was down by 106.81 points or 0.15 percent and finished at 71645.30 levels. The Bank Nifty index ended higher by 191.85 points or 0.42 percent on the spot level and closed at 46188.65 levels.
The broader markets closed mixed today, as the Nifty midcap index was down by 270.60 points or 0.56 percent and closed at 48298 levels. The Nifty smallcap index ended higher by 100.90 points or 0.63 percent at 16127.20 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Maruti, Cipla, Power Grid, Eicher Motors, and SBI Life, and the top losers were Ultratech Cement, L&T, Grasim, Dr. Reddy, and JSW Steel.
The top gainers in the Nifty midcap index were Motherson Sumi, Indian Bank, and Bank of India and the top losers were PayTM, Aurobindo Pharma, and Voltas.
The smallcap top gainers were HUDCO, NBCC, and BSE while the top losers were Deepak Fertiliser, RITES, and Kalyan Jewellers.
The most active stocks in the Nifty index in terms of value were HDFC Bank, L&T, and Maruti. The most active stocks in terms of volume were Tata Steel, Power Grid, and ONGC.
On the sectoral front, PSU Bank, Auto, and Energy closed higher while the sectors that closed in the red were Media, Metal, and Realty.
Global Stock Market Today
The other Asian stock markets closed mixed on Thursday, following negative cues from Wall Street and as investors assessed the business activity data from the region. Japan’s Nikkei ended lower by 0.90%, while Australia’s S&P ASX 200 index was down by 1.20% snapping an eight-day winning streak.
South Korea’s Kospi index gained the most, up by 1.78%, as the country’s export data came above the market expectation. Shanghai index is down by 0.64% despite Ciaxin China Manufacturing PMI data released on Thursday expanded for the third straight month in January. Hang Seng closed higher by 0.37%. The Straits Times ended lower, while Taiwan and SET Composite closed in the positive territory.
European markets are trading mixed on Thursday, as investors are looking ahead to Bank of England monetary policy updates later in the day, and eurozone inflation data. The sentiments are also downbeat after US Fed’s chair Jerome Powell remarks, saying a March rate cut is not likely to happen.
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Editorial desk