Stock Market Today: Nifty ends above 19800, Sensex up 302 pts

 

Stock Market Today July 19, 2023: Indian stock markets ended a volatile session with decent gains on Wednesday. The domestic markets erased early gains in the late morning session and later bounced back in the afternoon session and ended higher. 

The markets got support from the upbeat corporate earnings both on the domestic front as well as from Wall Street. Some support also came with Union Finance Minister Nirmala Sitharaman stating that various issues surrounding cryptocurrencies were discussed at a key G20 meeting and India`s inputs will play an important role in formulating a comprehensive global policy for the new-age assets.

However, the upside remains capped, as some concern came with International Monetary Fund Managing Director (MD) Kristalina Georgieva’s statement that the medium-term growth prospects for the global economy remain weak, and elevated food and fertilizer prices are particularly worrying. Georgieva further said inflation could remain higher for longer, requiring even more monetary policy tightening. 

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 83.90 points or 0.42 percent and closed at 19833.15 levels while the Sensex was up by 302.30 points or 0.45 percent and finished at 67097.44 levels. The Bank Nifty index ended higher by 258.45 points or 0.57 percent on the spot level and closed at 45669.30 levels

The broader markets outperform their larger peers today, as the Nifty midcap index was up by 247.60 points or 0.68 percent and closed at 36839 levels. The Nifty smallcap index ended higher by 87.75 points or 0.78 percent at 11404.95 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were NTPC, Bajaj Finance, IndusInd Bank, Ultratech Cement, and Bajaj Finserve and the top losers were Hindalco, TCS, Bajaj Auto, Hero Motors, and Maruti

The top gainers in the Nifty midcap index were TTML, Polycab, and PNB and the top losers were Coforge, TIIndia,and Bharat Forge

The smallcap top gainers were TV 18 Broadcast, Tejas Network, and Maha Bank while the top losers were Brightcom Group, RBL Bank, and Easymy Trip.

The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and Infy. The most active stocks in terms of volume were NTPC, Reliance, and SBI.

On the sectoral front, barring IT all other sectoral indices closed in the green with Nifty PSU Bank, Media and Energy gained the most.

 

Global Stock Market Today

 

Asian stock market indexes mostly closed higher on Wednesday. Japan’s Nikkei gained the most in the region as investors digested upbeat corporate earnings from the US. The latest data showed the business sentiment among manufacturers in Japan declined for the first time in six months in July.

Kospi and Shanghai erased intraday losses and turned positive at the close. Hang Seng trimmed some early losses but ended marginally lower on Wednesday. 

European stock market indexes are trading higher as UK’s inflation fell more than expected in June. The property and housebuilding stocks are trading higher on hopes of a pause in interest rate hikes.

 

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Happy Investing!!

Editorial desk