Stock Market Today: Sensex Surges 496, Nifty Crosses 21600, Broader Markets Lead
Stock Market Today 19 January 2024: Indian equity benchmark indices ended with significant gains on Friday, snapping a three-day losing streak. The domestic markets made a strong opening on Friday tracking positive cues from global peers.
Indian markets traded firmly throughout the day on the back of buying in metal and energy counters. Traders took encouragement as Reserve Bank of India Governor Shaktikanta Das said slowing global growth is reason for concern, a cause of worry but India is better placed to deal with various geopolitical challenges.
The local markets also got some support with a private report that COVID-19 cases are seeing a downward trend in India, with active cases falling to their lowest since December 21, 2023.
Indian Stock Market Today
The Nifty 50 index closed higher by 160.15 points or 0.75 percent and closed at 21622.40 levels while the Sensex was up by 496.37 points or 0.70 percent and finished at 71683.23 levels. The Bank Nifty index ended slightly lower by 12.40 points or 0.03 percent on the spot level and closed at 45701.15 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 716.10 points or 1.52 percent and closed at 47815.95 levels. The Nifty smallcap index ended higher by 166.85 points or 1.09 percent at 15487.45 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were ONGC, Bharti Airtel, NTPC, TechM, and SBI Life, and the top losers were IndusInd Bank, HDFC Bank, Kotak Bank, DivisLab, and Adani Ports.
The top gainers in the Nifty midcap index were RVNL, IRFC, and REC Ltd and the top losers were Zeel, Dixon, and Prestige Estate.
The smallcap top gainers were HUDCO, NBCC, and Intellect while the top losers were Suzlon, Chambal Fertilizer, and Amber Enterprise.
The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and IndusInd Bank. The most active stocks in terms of volume were HDFC Bank, Tata Steel, and NTPC.
On the sectoral front, Metal, FMCG, and Energy closed higher while the sectors that closed in the red were Media and Bank
Global Stock Market Today
The other Asian stock market indexes mostly closed higher following gains from US markets overnight. Japan’s Nikkei ended higher by 1.38%, as Japan’s retail inflation hit its lowest level in December, since June 2022, ahead of next week’s monetary policy meeting. Australia’s S&P ASX 200 extended its early gains, up by 1.02%, snapped a three-day losing streak.
Taiwan index gained the most in the region and ended higher by 2.57% due to a rally in chip-related stocks. South Korea’s Kospi index also closed higher by 1.32%. Shanghai and Hang Seng indexes declined by 0.54% and 0.48% respectively. The Strait Times and SET Composite closed higher while the Jakarta Composite is trading in the red.
European stock market indexes are trading higher on Friday extending their previous session gain, as investors digested hawkish comments from central bank policymakers earlier this week. The UK’s retail sales declined in December as compared to a rise in the previous month.
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Editorial desk