Stock Market Today: Nifty ends above 17800 levels
Stock Market Today 16 Aug 2022: It was a positive start for the Indian stock markets after a long weekend. The benchmark indexes opened a gap-up on Tuesday amid positive global cues. Nifty today opened at 17797.20 levels up by 99.05 while Sensex made a positive opening of 212.34 points at 59675.12 levels. Indian stock market indexes traded above their neutral lines throughout the day and closed on a positive note today.
Stock Market News and Updates Today
Other than the positive global cues, the domestic markets got support from falling crude oil and other commodity prices. Both the Sensex and Nifty traded above their physiological 59800 and 17800 levels most of the day. It was a broad-based rally today, apart from the front liner the broader markets too equally participated in today’s rally.
The market sentiments were positive as the CPI-based retail inflation eases in the month of July. The sentiments got further boosted as the WPI numbers released today morning also moderated in the month of July.
Traders were also encouraged by Saturday’s report stating that the overall direct tax collections, net of refunds, including corporation and personal income tax, grew by 40 percent in (April-July) FY23 to Rs 5 trillion. This is nearly 35 percent of the target of Rs 14.2 trillion for the whole fiscal year
On the global front, the other Asian market indexes were mostly closed higher on Tuesday tracking positive cues from Wall Street overnight. Investors remained worried over global growth following the weak China economic data that knocked oil and other commodities. European markets are trading higher on Tuesday, as the sentiments got boosted by strong results by Australian miner BHP
Nifty 50 and Sensex at the close today
The Nifty 50 index was up by 127.10 points or 0.72 percent and closed at 17825.25 levels while the Sensex gained by 379.43 points or 0.64 percent and finished at 59842.21 levels. The Bank Nifty index ended higher today by 197.35 points or 0.51 percent on the spot level and ended at 39239.65
The broader markets outperformed the benchmarks today. The Nifty midcap index was up by 448.20 points or 1.45 percent and closed at 31254.55 levels. The Nifty smallcap index closed higher today by 89.95 points or 0.95 percent at 9511.55 levels.
Stock market top gainers and losers today
The top gainers in the Nifty 50 index were HDFC Life, Adani Ports, Eicher Motors, BPCL, and Maruti Suzuki, whereas the top losers were Grasim, Hindalco, SBI, Bharti Airtel, and JSW Steel.
The midcap top gainers were Escorts Kubota, Hind Zinc, and Apollo Tyres, and the top losers were Mannapuram Fin, Zee Entertainment, and Bharat Forge.
The top gainers in the Nifty smallcap index were UTI AMC, Century Plyboard, and Ujjivan Small and the top losers were Linde India, Dilip Buidcon, and Wockhardt.
The most active stocks in the Nifty index in terms of value were ICICI Bank, HDFC Bank, and Maruti. The most active stocks in terms of volume were Tata Steel, ONGC, and Tata Motors.
On the sectoral front, barring Media and PSU Banks all other sectoral indices were closed higher today. The sectors that led the rally were Auto, Realty, Oil & Gas, FMCG, and Financial Services.
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