Stock Market Today: Nifty Hits 20,000 Marks, Sensex Gains 528 Points

September 11, 2023 admin

Stock Market Today Sept 11, 2023: Indian stock markets ended higher for the seventh consecutive day on Monday. Nifty closed at 1996.35 level after hitting a new record high of 20008.15. The domestic markets extended their early gains as the session progressed and closed on a strong note despite mixed cues from the Asian market peers.

The local markets witnessed broad-based buying today, apart from front-line stock, the broader markets continued to participate in the rally.

The market sentiments remained upbeat on private reports that India is well placed to benefit from geopolitical and economic trends that are driving the diversification of Asia`s manufacturing supply chain, and it is also the country`s manufacturing moment.

Further, the sentiments got boosted as India and Brazil on Sunday agreed to work together for the expansion of India-Mercosur preferential trade agreement (PTA) to further promote economic ties

Stock Market Indexes Today

The Nifty 50 index closed higher by 176.40 points or 0.89 percent and closed at 19996.35 levels while the Sensex was up by 528.17 points or 0.79 percent and finished at 67127.08 levels. The Bank Nifty index ended higher by 414.30 points or 0.92 percent on the spot level and closed at 45570.70 levels.

The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 466.45 points or 1.14 percent and closed at 41444.20 levels. The Nifty smallcap index ended higher by 169.95 points or 1.33 percent at 12982.25 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were Adani Ports, Adani Enterprise, Power Grid, Apollo Hospital, and Axis Bank and the top losers were Coal India, ONGC, Bajaj Finance, L&T, and IndusInd Bank

The top gainers in the Nifty midcap index were Tube Investment India, IRFC, and JSW Energy and the top losers were BHEL, Trident and UBL

The smallcap top gainers were Rail Vikas Nigam, Praj Industries, and CDSL while the top losers were PVR Inox, Intellect, and HUDCO.

The most active stocks in the Nifty index in terms of value were HDFC Bank, Adani Enterprise, and Adani Ports and Reliance. The most active stocks in terms of volume were Tata Steel, NTPC, and Adani Ports.

On the sectoral front, barring Media all other sectoral indices closed higher with Nifty PSU Bank, Metal, and Auto sectors gaining the most.

Global Stock Market Today

The other Asian stock market indexes closed mixed on Monday, as investors remain cautious ahead of key economic data from China later this week. Japan’s Nikkei ended lower by 0.43 percent while South Korea’s Kospi closed higher by 0.36 percent.

Australia’s C&P/ASX 200 pared early losses and gained 0.50 percent, snapping a day losing streak. up by 0.12 percent. Hang Seng trimmed some early losses and closed lower by 0.58 percent while the Shanghai index ended higher by 0.83 percent. Elsewhere, the Straits Times closed higher, while Taiwan and SET Composite ended in the red.

European stock market indexes are trading higher on Monday as investors are looking ahead to the US inflation reading and the European Central Bank’s interest rate decision later this week.

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Stock Market Prediction Next Week (11-15 Sept 2023)

Happy Investing!!

Editorial desk