Stock Market Today: Sensex Up 94 pts, Nifty Ends in the Red, Mid & SmallCaps Fall

September 12, 2023 admin

Stock Market Today Sept 12, 2023: Indian stock market indexes ended the volatile session on a mixed note on Tuesday. The Sensex ended higher for the eighth consecutive day, while Nifty snapped a 7-day winning streak.

Nifty opened at a gap-up in the morning at a record-high at 20110 levels. However, profit booking by investors, following the equity benchmarks (Sensex and Nifty) recent milestone of crossing the 67,500 and 20,100 marks, triggered volatility in the markets.

Meanwhile, traders remained sidelined, avoiding taking any long position ahead of India’s August consumer inflation and July Index of Industrial Production (IIP) data, which will be released after market hours on Tuesday. Traders are also cautious ahead of the US inflation data which is due on Wednesday.

Stock Market Indexes Today

The Nifty 50 index closed slightly lower by 3.15 points or 0.02 percent and closed at 19993.20 levels while the Sensex was up by 94.06 points or 0.14 percent and finished at 67221.14 levels. The Bank Nifty index ended lower by 59.35 points or 0.13 percent on the spot level and closed at 45511.35 levels.

The broader markets underperformed their larger peers today, as the Nifty midcap index declined by 1273.90 points or 3.07 percent and closed at 40170.30 levels. The Nifty smallcap index fell sharply by 532.05 points or 4.10 percent at 12450.20 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were TCS, L&T, Infy, Divis Lab, and Ultratech Cement and the top losers were BPCL, Power Grid, NTPC, Adani Enterprise, and Coal India.

The top gainers in the Nifty midcap index were Honeywell, Lupin, and Mankind and the top losers were BHEL, Tube Invest, and REC LTD.

The smallcap top gainers were Brightcom Group, JB Chemical & Pharma, and Elgi Equipements while the top losers were Cochin Shipyard, Rail Vikas Nigam, and RITES.

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 Tata Steel, Power Grid, and NTPC.

On the sectoral front, barring IT, Pharma all other sectors closed in the red with Media, Realty, and Metal falling the most.

Global Stock Market Today

The other Asian stock market indexes closed mixed on Tuesday, as investors remain cautious ahead of key economic data due later this week. Japan’s Nikkei extended early gains and closed higher higher by 0.94 percent. Australia’s S&P/ASX 200 recovered early losses and closed higher by 0.20 percent, as the business confidence survey data strengthened in August compared to the previous month.

Hang Seng and Shanghai closed marginally lower by 0.28 percent and 0.18 percent respectively, while South Korea’s Kospi closed lower by 0.80 percent. Elsewhere, the Straits Times closed lower while Taiwan and SET Composite ended higher on Tuesday.

European stock markets are trading mixed on Tuesday. The UK’s FTSE is trading higher, as the unemployment rate rose in line with the expectation by 0.5 percentage points to 4.3% in the May to June period, as per the official data showed Tuesday.

The other key indexes CAC and DAX are trading lower ahead of the US inflation due on Wednesday and European Central Bank (ECB) interest rate decision on Thursday.

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Stock Market Prediction Next Week (11-15 Sept 2023)

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Editorial desk