Stock Market Today: Sensex & Nifty End Mixed, Broader Markets Outperformed
Stock Market Today, 7 February 2024: Indian stock markets ended the volatile session on a mixed note on Wednesday. The domestic markets opened a gap-up amid positive global cues, however, indices slipped below their neutral lines in the late morning session. Markets erased all intraday losses and closed near their flat line on Wednesday.
The market sentiments were positive due to Foreign fund inflows. As per the provisional data from NSE, Foreign institutional investors (FIIs) net bought shares worth Rs 92.52 crore on February 6. Traders took some encouragement as Finance Minister Nirmala Sitharaman said that retail inflation has come down to within the tolerance band due to steps taken by the government to check price rises in essential commodities, especially in perishable commodities.
However, the market upside remained capped due to rising crude oil prices driven by concerns over escalating tensions in the Middle East, which raised apprehensions about potential disruptions to oil supply from the region.
Stock Market Today
The Nifty 50 index closed edge higher by 1.10 points or 0.01 percent and closed at 21930 levels while the Sensex was slightly down by 34.1 points or 0.05 percent and finished at 72152 levels. The Bank Nifty index ended higher by 127.70 points or 0.28 percent on the spot level and closed at 45818.50 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 367.40 points or 0.75 percent and closed at 49352.05 levels. The Nifty smallcap index ended higher by 116.85 points or 0.71 percent at 16566.20 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were SBI, Grasim, JSW Steel, HDFC Life, and Axis Bank, and the top losers were TechM, Power Grid, Infy, Adani Port, and TCS.
The top gainers in the Nifty midcap index were Yes Bank, PayTM, and Idea and the top losers were Navin Fluorine, Gland Pharma, and Motherson Sumi
The smallcap top gainers were IOB, UCO Bank, and Central Bank, while the top losers were NCL India, Redington, and IEX.
The most active stocks in the Nifty index in terms of value were HDFC Bank, SBI, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, SBI, and HDFC Bank.
On the sectoral front, barring IT, all other sectoral indices were closed in the green with PSU Bank, Realty, and Media closed as the top gainers.
Global Stock Market Today
The other Asian stock market indexes mostly closed higher following the gains from Wall Street overnight. The market sentiments were positive as investors assessed quarterly earnings and China’s measures to arrest a recent sell-off in its equities.
Shanghai Index continued its northward journey and gained the most in the region, closing higher by 1.44%, while Hang Seng gave up early gains and closed lower by 0.47%.
Japan’s Nikkei ended slightly lower by 0.11%, while Australia’s S&P ASX 200 index closed higher by 0.45%. South Korea’s Kospi index trimmed some intraday gains and closed higher at 1.28%. The Straits Times and SET Composite ended higher, while Jakarta is trading flat.
European stock markets are trading mixed on Wednesday as investors are concerned about the uncertainty about the timings of interest rate cuts. Investors focus now shifted to this week’s corporate earnings.
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Editorial desk