Stock Market Today- Sensex, Nifty recovered from early fall
Indian Stock Market Today- Sensex, Nifty recovered from early fall
Indian stock market opened a gap-down today amid negative cues from the other Asian markets peers. The Nifty opened at 17001.55 levels, down by 147.55 points while Sensex made a negative opening at 57158.63 levels down by 332.88 points. In the afternoon session, Indian markets recovered their early losses and closed in the positive.
Stock Markets News and Updates
Indian markets gained with the support of buying in the PSU Banking, Media, and Auto sectors whereas selling witnessed in IT, Energy, and Consumer stocks. Traders were concerned as ICRA projects fiscal deficit at a higher of Rs 17.9 trillion, driven by the two major outlays intended to blister confidence amongst households namely free food grains under the PMGKAY scheme and an enhanced outgo for MGNREGA.
However, the downside of the markets remained capped as the commerce ministry said exports of engineering goods rose 54 percent to $81.8 billion till December in FY 2021-22 as compared to the same period of the last year. In the corresponding nine months period of FY2020-21, exports stood at $52.9 billion. The sector accounted for over 27 percent of India’s total exports basket during the period.
On the global front, Asian markets closed lower despite positive cues from the US markets overnight after an initial sell-off. Traders are selling off stocks amid fears of rising inflation, monetary policy tightening, and resurgence of Covid infections. The geopolitical tension between US and Russia over Ukraine also worried investors and hit market sentiments. European markets are trading higher and recovering from their previous session losses after tracking positive cues from Wall Street.
Sensex and Nifty at the Close Today
At the close, Nifty was up by 128.85 points or 0.75 percent and closed at 17277.95 levels while Sensex gained 366.64 points or 0.64 percent and finished at57858.15 levels. The Bank Nifty index closed higher today, it was up by 759.20 points or 2.05 percent on spot and ended at 37706.75 levels.
The broader markets also gained today following the benchmark, as midcap and smallcap indexes closed almost 1 percent higher today. The Nifty midcap index was up by 293.90 points or 1 percent and closed at 29676.90 levels. The Nifty smallcap index closed higher by98.15 points or 0.90 percent and finished at 10969.05 levels.
Top Nifty Gainers and Losers
The top gainers in the Nifty 50 index were Maruti Suzuki, Axis Bank, SBI, IndusInd Bank, and UPL whereas the top losers were Wipro, Bajaj Finserve, Titan Company, Infosys, and Tech Mahindra.
The top gainer in the Nifty midcap index were Zee Entertainment, Bank of Baroda, and Canara Bank and the losers were Indiamart Inter, Deepak Nitrate, and Ramco Cements.
The top gainers in the Nifty smallcap index was Just Dial, Nalco, and IRB Infra the losers were Lux Industries, APL Apollo, and PNB Housing Fin.
The most active stocks in the Nifty index in terms of value were Axix Bank, Reliance, and Maruti. The most active stocks in terms of volume were Axis Bank, Tata Motors, and SBI.
On a sectoral front, barring IT all other sectors closed in the green today. The sectors that rallied the most were Nifty PSU Banking, Auto Banking, Realty, Metals, and FMCG
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Editorial desk
