Stock Market Today: Sensex & Nifty Edge Down; Mid & Small Caps Shine
Stock Market Today, 23 February 2024: Indian stock market indexes closed marginally lower on Friday despite positive global cues. The domestic markets erased initial gains and were traded near their flat line for most of the session, amid persistent selling pressure from foreign investors. The NSE’s provisional data showed that foreign institutional investors (FIIs) net sold shares worth Rs 1,410.05 crore on Thursday.
Investors were also concerned as the India Ratings and Research stated that the country’s GDP is expected to grow by 6.5 percent in 2024-25. In contrast, this indicates a decline from the statistics ministry`s first advance estimate of 7.3 percent for the current financial year.
Meanwhile, traders ignored Finance Minister Nirmala Sitharaman’s statement that robust tax collections had given the Centre confidence to increase capital expenditure and continue investment in infrastructure projects.
Stock Market Today
The Nifty 50 index closed slightly lower by 4.75 points or 0.02 percent and closed at 22212.70 levels while the Sensex was marginally down by 15.45 points or 0.02 percent and finished at 73142.80 levels. The Bank Nifty index ended lower by 108.05 points or 0.23 percent on the spot level and closed at 46811.75.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 151.20 points or 0.31 percent and closed at 49279.55 levels. The Nifty smallcap index ended higher by 60.75 points or 0.38 percent at 16175.20 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Bajaj Finserve, SBI Life, Dr. Reddy, Titan, and HDFC Life, and the top losers were BPCL, HCL Tech, Maruti, Asian Paints, and JSW Steel.
The top gainers in the Nifty midcap index were Idea, IndusTower, and Sona BLW and the top losers were Fact Yes Bank, and NHPC.
The smallcap top gainers were INtellect, Data Pattern, and Welspun while the top losers were MRPL, IOB, and HFCL.
The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and Power Grid.
On the sectoral front, Media, Realty, and Pharma closed higher while the sectors that closed in the red were PSU Bank, Metal, and Bank Nifty.
Global Stock Market Today
The other Asian stock market indexes closed mixed on Friday as investors digested China’s property price data. China’s Shanghai Index closed higher by 0.55% for the ninth consecutive day, while the Hang Seng index closed slightly lower by 010% after a volatile session. Japanese stock market was not trading today on account of the Emperor’s Birthday holiday. Australia’s S&P ASX 200 index ended higher by 0.43%.
South Korea’s Kospi index trimmed most of its early gains and closed higher by 0.13%. Elsewhere, the Straits Times and SET Composite ended in the red, while Taiwan closed in the positive territory.
European stock market indexes are trading marginally higher, as investors are focused on more corporate earnings and fourth-quarter GDP data from Germany later in the day. Meanwhile, fresh data from Gfk showed that the UK’s consumer confidence dipped in February.
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Editorial desk