Stock Market Today: Sensex & Nifty Make Modest Gains, Mid & Small Caps Trail
Stock Market Today, 9 February 2024: Indian stock market indexes ended the volatile session with modest gains on Friday. The domestic markets rebounded after a significant fall in the previous session. Indices opened on a cautious note traded volatile throughout the session and closed with decent gains.
The market participants got support after the Reserve Bank of India (RBI) in its latest ‘Industrial outlook survey of the manufacturing sector for Q3:2023-24’ said that manufacturing companies reported positive demand conditions during Q3:2023-24. This was reflected in their assessment of production, capacity utilization, pending orders, employment, and overall business situation but they were less sanguine when compared to the previous survey round.
Traders took note of a private report stating that Indian stock trading volumes have surpassed that of the Hong Kong exchange, signaling a widespread positive outlook on Indian equities, despite rising concern over valuations.
Stock Market Today
The Nifty 50 index closed higher by 64.55 points or 0.30 percent and closed at 21782.50 levels while the Sensex was up by 167.06 points or 0.23 percent and finished at 71595.49 levels. The Bank Nifty index ended higher by 622.55 points or 1.38 percent on the spot level and closed at 45634.55 levels.
The broader markets underperformed their larger peers today, as the Nifty midcap index was down by 438.75 points or 0.89 percent and closed at 48889.05 levels. The Nifty smallcap index ended lower by 231.65 points or 1.40 percent at 16269.30 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Grasim, SBI, Apollo Hospital, Sun Pharma, and ICICI Bank, and the top losers were M&M, ONGC, Bharti Airtel, NTPC, and Hindalco
The top gainers in the Nifty midcap index were Zeel, Idea, and ACC and the top losers were PFC, RVNL, and Ramco Cement.
The smallcap top gainers were Birla Corp, Welspun, and Credit Access while the top losers were Fincable, Hindcorp, and SJVN.
The most active stocks in the Nifty index in terms of value were HDFC Bank, SBI, and Reliance. The most active stocks in terms of volume were SBI, Tata Steel, and ITC.
On the sectoral front, Nifty Bank, PSU Bank, and Financial Services closed higher while the sectors that closed in the red were Metal, Energy, and IT.
Global Stock Market Today
The most of key Asian stock market indexes were shut today either fully or partially on account of the Lunar New Year holiday in the region. Stock markets of China, Taiwan, and South Korea were shut today, while Singapore and Hong Kong traded half day.
Japan’s Nikkei 225 hit fresh records, breached the 37000 mark for the first time in 34 years, and ended higher by 0.18%. Australia’s S&P ASX 200 index closed slightly higher by 0.07%, gaining for the third straight session. Hang Seng ended lower by 0.84%, while Straits Times closed marginally lower by 0.15%.
European stock market indexes are trading slightly higher near their flat line on Friday, as investors digested more quarterly earnings and fresh economic data released today. German inflation fell in January, according to the Federal Statistical Office showed Friday, while investors are waiting for industrial output data from Italy, later in the session.
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Editorial desk