Stock Market Today: Sensex, Nifty finish marginally higher
Stock Market Today, 18 Aug 2022: Indian stock market indexes opened lower on Thursday amid weak global cues. Nifty made a negative opening of 45.6 points at 17898.65 levels while Sensex opened lower by 179.94 points at 60080.19 levels. Indian markets continue to trade in the red terrain most of the day. In the last hour, the key indices erased their losses and closed marginally higher.
Stock Market News and Updates Today
The Indian markets dragged due to the negative global cues as traders were worried about aggressive rate hikes by the various global Central Banks including Fed and ECB to control inflation, which is running multi-decade highs. Investors are concerned that aggressive rate hikes might disrupt global economic growth. FOMC minutes released on Wednesday pointed out that US interest rates might stay higher for longer unless the inflation comes back to the 2% target.
The domestic market sentiments were also impacted as farmer deputy chairman of erstwhile Planning Commission Montek Sigh Ahluwalia said it would be unrealistic to assume that India would record growth of 8%, which is needed to become a developed nation by 2047. Further, the depreciation of the Indian rupee too added some pressure to the Indian markets. However, the sustained buying by the FIIs has supported the markets in the last hour today.
On the global front, the other Asian market indexes were mostly closed in the red today, tracking the negative cues from Wall Street overnight. European market indexes are trading mixed on Thursday after a sell-off in the previous session and following the weak cues from the US markets overnight.
Nifty 50 and Sensex at the close today
The Nifty 50 index was up by 12.25 points or 0.07 percent and closed at 17956.50 levels while the Sensex gained by 37.87 points or 0.06 percent and finished at 60298 levels. The Bank Nifty index ended higher today by 194.45 points or 0.49 percent on the spot level and ended at 39656.15
The broader markets also closed higher today. The Nifty midcap index was up by 58.80 points or 0.19 percent and closed at 31460.20 levels. The Nifty smallcap index closed higher today by 15.50 points or 0.16 percent at 9573.80 levels.
Nifty top gainers and losers today
The top gainers in the Nifty 50 index were Kotak Mahindra, Larsen, Tata Consumer Product, IndusInd Bank, and SBI Life whereas the top losers were ONGC, Dr. Reddy’s Lab, UPL, Wipro, and BPCL
The midcap top gainers were IRCTC, Dhani Services, and BHEL and the top losers were Bombay Burmah, Bank Of Baroda, and Dhani Services.
The top gainers in the Nifty smallcap index were IOL Chemicals, Bajaj Electricals, and India Cement and the top losers were Future Retail, IEX, and APL Apollo.
The most active stocks in the Nifty index in terms of value were ICICI Bank, Reliance, and Bharti Airtel The most active stocks in terms of volume were Tata Steel, ONGC, ICICI Bank
On the sectoral front, Realty, Metals, FMCG, Banks, and Financial Services were closed higher today. The sectors that closed lower were IT Oil & Gas, Auto, and Pharma
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