Stock Market Today: Nifty Ends Above 21,800, Sensex Up 268 Points
Stock Market Today, 14 February 2024: Indian stock market indexes ended the volatile session with decent gains on Wednesday. The domestic equity benchmarks opened a gap-down following hotter-than-expected US inflation data, which fueled the selloff in Wall Street overnight. The equity benchmarks recovered in the second half and closed in the green.
Meanwhile, the market trend reversed after the commerce and industry ministry revealed that the country’s wholesale price index (WPI)-based inflation rate eased to 0.27% in January, due to moderation in food prices. The WPI inflation rate was at 0.73% in December 2023.
Traders took note of former Reserve Bank Governor C Rangarajan stating that India needs to grow at seven to eight percent annually to become a developed nation with $13000 per capita income by 2047. The domestic investors were also encouraged, as the foreign investors remained buyers in the Indian equity cash segments on Tuesday.
Stock Market Today
The Nifty 50 index closed higher by 96.80 points or 0.45 percent and closed at 21840.05 levels while the Sensex was up by 267.64 points or 0.37 percent and finished at 71822.83 levels. The Bank Nifty index ended higher by 405.90 points or 0.89 percent on the spot level and closed at 45908.30 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 496.25 points or 1.04 percent and closed at 48331.90 levels. The Nifty smallcap index ended higher by 252.30 points or 1.61 percent at 15896.05 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were BPC< SBI, ONGC, Coal India, and Axis Bank, and the top losers were TechM, Cipla, Sun Pharma, Dr. Reddy, and TCS
The top gainers in the Nifty midcap index were Hind. Petro, Indian Bank, and OIL, and the top losers were PayTM, LTTS, and Prestige.
The smallcap top gainers were MRPL, SJVN, and Jothy Lab while the top losers were Gleanmark, Credit Access, and Medanta.
The most active stocks in the Nifty index in terms of value were HDFC Bank, SBI, and ICICI Bank. The most active stocks in terms of volume were HDFC Bank, SBI, and ONGC.
On the sectoral front, barring IT, Pharma all other sectors closed in the green, with PSU Bank, Media, and Energy gaining the most.
Global Stock Market Today
Most of the other Asian stock market indexes closed in the red on Wednesday, tracking negative cues from Wall Street overnight. Japan’s Nikkei declined by 0.60% after hitting the 38000 mark on an intraday basis in the previous session. Australia’s S&P ASX 200 index trimmed some early losses and closed lower by 0.74%, closing lower for the third consecutive session.
South Korea’s Kospi index was down by 1.10%, as the heavyweight Samsung dragged down the indices. The Straits Times pared most of the early losses and closed marginally lower by 0.21%. The Hang Seng index pared all early losses and closed higher by 0.83%. SET Composite ended in the red, while Jakarta is trading trading lower on Wednesday.
European stock markets are trading higher as investors digested the inflation reading from the US and UK and fresh corporate earnings. On Wednesday, the CPI inflation data released in the UK showed the rate remained steady at 4% on a YoY basis in January, due to ease in food and non-alcoholic beverages.
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Editorial desk