Stock Market Today, 27 February 2024: Indian stock market indexes ended higher on Tuesday, snapping a two-day losing streak. The Sensex and Nifty index opened lower and traded volatile near their flat line in the morning deal. In the afternoon session, the domestic indices managed to wipe out intraday losses, traded above their neutral lines and closed with decent gains.
The local markets got some support with a private report stating that India’s real GDP growth for the December quarter is all set to come at a higher-than-anticipated 7 percent. The official data on quarterly growth will be released on February 29.
However, the upside remained capped amid foreign fund outflows. Provisional data from the NSE showed that foreign institutional investors (FIIs) net sold shares worth Rs 285.15 crore on February 26.
Stock Market Today
The Nifty 50 index closed higher by 76.30 points or 0.34 percent and closed at 22198.35 levels while the Sensex was up by 305.08 points or 0.42 percent and finished at 73095.22 levels. The Bank Nifty index ended higher by 11.55 points or 0.02 percent on the spot level and closed at 46588.05 levels.
The broader markets underperformed their larger peers today, as the Nifty midcap index was down by 61.10 points or 0.12 percent and closed at 49041.20 levels. The Nifty smallcap index ended slightly higher by 44.45 points or 0.28 percent at 16177.70 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Tata Motors, TCS, IndusInd Bank, SunPharma, and Power Grid, and the top losers were Hero Motors, Bajaj Finance, SBI, DivisLab, and UPL
The top gainers in the Nifty midcap index were Sona BLW, Policy Bazar, and Torrent Power and the top losers were Idea, NMDC, and REC Ltd.
The smallcap top gainers were Intellect Design, BSE, and Happiest Minds while the top losers were Metropolies, Hind Copper, and MRPL.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and TCS. The most active stocks in terms of volume were Power Grid, Tata Steel, and ONGC.
On the sectoral front, Realty, IT, and Pharma closed higher while the sectors that closed in the red were PSU Bank, Media, and Energy.
Global Stock Market Today
The other Asian stock market indexes closed mostly higher on Tuesday, as investors are looking for key economic data scheduled for a release later this week. Shanghai index gained the most in the region up by 1.29%, while Hang Seng ended higher by 0.96%. Nikkei 225 traded volatile in a tight range today and closed slightly higher by 0.17%.
Australia’s S&P ASX 200 index closed marginally higher by 0.13%. South Korea’s Kospi index extended early losses and closed lower by 0.84%. Elsewhere, the Straits Times, Taiwan, and SET composite closed in the red.
European stock market indexes are trading slightly above their neutral lines on Tuesday despite weak global cues. The investment firm and asset manager Abrdn jumped above 7% despite reporting a 5% fall in operating profit, as the company panning for 500 job cuts.
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Editorial desk