Stock Market Today: Sensex Gains 364 Points, Nifty Closes Above 19650
Stock Market Today, 6 Oct 2023: Indian stock markets ended higher for the second consecutive day on Friday. The domestic markets opened on an optimistic note ahead of the RBI policy outcome amid positive cues from Asian peers. The markets gradually moved northwards, as the session progressed after the RBI policy updates.
The local markets traded positively throughout the day, amid a private report stating that the Centre`s prospects of meeting its fiscal deficit target of 5.9 percent of GDP for the current financial year have brightened rather considerably over the last few days, with direct tax collections – both corporate and personal income tax – rising massively, and unexpectedly, in August.
Besides, The RBI kept the key interest rate unchanged as widely expected. The central bank said India is poised to become the growth engine of the world as it retained the GDP projection for the current fiscal at 6.5 percent. The Reserve Bank of India (RBI) Governor Shaktikanta Das further said the domestic economy exhibits resilience on the back of strong demand.
Stock Market Indexes Today
The Nifty 50 index closed higher by 107.75 points or 0.55 percent and closed at 19653.50 levels while the Sensex was up by 364.07 points or 0.55 percent and finished at 65995.64 levels. The Bank Nifty index ended higher by 147.25 points or 0.33 percent on the spot level and closed at 44360.60 levels.
The broader markets also closed higher in line with their larger peers today, as the Nifty midcap index was up by 238.70 points or 0.60 percent and closed at 40284.70 levels. The Nifty smallcap index ended higher by 101.85 points or 0.80 percent at 12837.10 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Bajaj Finserve, Bajaj Finance, Titan, IndusInd Bank, and Tata Consumer and the top losers were Hindustan Unilever, Coal India, ONGC, Asian Paints, and Bharti Airtel
The top gainers in the Nifty midcap index were Godrej Properties, L&TFH, and Lodha and the top losers were Idea, CG Power, and Guj Flurochem.
The smallcap top gainers were Kalyan Jewellers, NBCC, and BSE while the top losers were MRPL, Bikaji Foods, and Trevini Turbine.
The most active stocks in the Nifty index in terms of value were Bajaj Finance, HDFC Bank, and Bajaj Finserve. The most active stocks in terms of volume were Tata Steel, Power Grid, and HDFC Bank
On the sectoral front, barring Media, all other sectoral indices closed in the green with Realty, Financial Services, and Pharma gaining the most.
Global Stock Market Updates Today
The other Asian stock market indexes mostly ended higher on Friday, as investors are looking ahead to the US monthly job report, which will give more clarity on the Fed’s next move on the interest rate path. Japan’s Nikkei ended lower by 0.26 percent.
Australia’s S&P/ASX 200 and South Korea’s Kospi finished higher by 0.41 percent and 0.21 percent respectively, while Hang Seng jumped 1.56 percent and gained the most in the region. China’s stock market was closed today due to a weeklong holiday. Elsewhere, Straits Times, Taiwan closed higher while the SET Composite ended in the red.
European stock market indexes are trading slightly higher on Friday ahead of the US Job report. Most of the sectors are trading in the positive territory, with the insurance sector leading the gains, while the food and beverage sector is trading in the red.
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