Stock Market Today, 26 February 2024: Indian stock market indices closed lower for the second consecutive day on Monday. The domestic markets made a slightly negative start on Monday and extended their early losses. However, indices trimmed some intraday losses in the second half but closed with moderate losses.
The market sentiments were dented as data released by the Reserve Bank of India (RBI) showed that India`s foreign exchange reserves declined to $616.10 billion as of February 16. However, the downside was capped amid foreign fund inflows. Foreign institutional investors (FIIs) net bought shares worth Rs 1,276.09 crore on February 23, provisional data from the NSE showed.
Meanwhile, traders noted what Union Finance Minister Nirmala Sitharaman said under Prime Minister Narendra Modi`s leadership, India has moved up to the fifth position from the 10th spot in the world in terms of economy.
Stock Market Today
The Nifty 50 index closed lower by 90.65 points or 0.41 percent and closed at 22122.05 levels while the Sensex was down by 352.66 points or 0.48 percent and finished at 72790.14 levels. The Bank Nifty index ended lower by 235.25 points or 0.50 percent on the spot level and closed at 46576.50 levels.
The broader markets also closed lower in line with their larger peers today, as the Nifty midcap index was down by 177.25 points or 0.36 percent and closed at 49102.30 levels. The Nifty smallcap index ended lower by 42.05 points or 0.26 percent at 16133.15 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were L&T, Power Grid, Adani Enterprises, BPCL, and Tata Consumer, and the top losers were Asian Paints, Apollo Hospital, Hindalco, DivisLab, and Tata Steel.
The top gainers in the Nifty midcap index were Policy Bazar, BDL, and PayTM, and the top losers were Alkem, Idea, and Mankind.
The smallcap top gainers were Data Pattern, Jubilant Ingrevea, and Century Textile while the top losers were Aegies Chemical, BSOFT, and Medanta.
The most active stocks in the Nifty index in terms of value were HDFC Bank, L&T, and Reliance. The most active stocks in terms of volume were Power Grid, Tata Steel, and HDFC Bank.
On the sectoral front, Energy, Auto, and Realty closed higher while the sectors that closed in the red were IT, Metal, and Bank.
Global Stock Market Today
The other Asian stock markets mostly closed lower on Monday. Traders in Japan returned after a long weekend, the Nikkei 225 index hit a fresh record high and gained 0.34%. China’s Shanghai index snapped a 9-day winning streak and closed lower by 0.94%, while Hang Seng also ended lower by 0.61% on Monday.
On Monday, South Korea’s financial regulatory authority introduced fresh measures aimed at enhancing corporate governance, the Kospi index ended lower by 0.78%. Australia’s S&P ASX 200 index closed higher by 0.12%. The Straits Times and SET Composite closed lower, while Taiwan ended in the green on Monday.
European stock market indexes are trading mixed on Monday following a Stoxx 600 reached a record high in the previous week. Investors are looking ahead to the inflation data later this week and more quarterly earnings today.
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Editorial desk