Indian stock markets rebound sharply from day’s low
Sensex and Nifty Today 26 May 2022: Indian stock markets opened higher on Thursday tracking gains in the global markets. Nifty today made a positive opening at 16105 levels, up by 79.2 points while Sensex opened higher by 201.58 points at 53950.84 levels. Indian stock market indexes slipped into red soon after opening higher and later rebound sharply in the second half and closed nearly 1 percent higher today.
Stock Markets News Today
Initially, the Indian equity markets took support with a private report that India’s economy is expected to have growth at 9.2 percent in the fiscal ended March 2022, after having contracted by 7.3 percent in the previous financial year, aided by resilience in the rural economy, uptick in bank credit and rising GST collections.
However, traders turned cautious, as FIIs are continuously selling in the Indian equity cash segment. The provisional data available on the NSE showed FIIs have net sold shares worth Rs 1803.06 crore on May 25. The market sentiments got further hit and the upside was limited as rating agency Moody’s Investors Service has lowered its growth forecast for India for the current calendar year by 30 bps from 9.1 to 8.8 percent. Though the foreign rating agency has retained its next year forecast of 5.4 percent.
On the global front, the other Asian market indexes mostly trimmed their early gains and closed mixed on Thursday, amid tracking positive cues from the US markets overnight. European key indexes are mostly trading in the green tracking positive cues from Wall Street
Nifty and Sensex indexes at the close today
The Nifty index gained by 144.35 points or 0.90 percent and closed at 16170.15 levels while Sensex was up by 503.27 points or 0.94 percent and finished at 54252.53 levels. The Bank Nifty index ended higher today by 755.40 points or 2.20 percent on the spot level and ended at 35094.90
The broader markets were also gained in line with their larger peers. The Nifty midcap index gained by 362.45 points or 1.35 percent and closed at 27281.15 levels. The Nifty smallcap index closed higher by 66.30 points or 0.77 percent and finished at the 8705.25 level
Nifty top gainers and losers today
The top gainer in the Nifty 50 index was Tata Steel, JSW Steel, Apollo Hospital, SBI, and HDFC Bank whereas the top losers were ITC, UPL, Divis Lab, Sun Pharma, and Reliance
The top gainers in the Nifty midcap index were Dr. Lal Path Lab, Adani Total Gas, and M&M Finance, and the top losers were Ipca Labs, ICICI Securities, and Endurance Tech.
The smallcap top gainers were Thyrocare Tech, Balrampur Chini, and HEG and the top losers were Sequent Scientific, Future Retails, and Happiest Minds
The most active stocks in the Nifty index in terms of value were Reliance, Infy, and HDFC Bank. The most active stocks in terms of volume were Coal India, NTPC, and ITC
On a sectoral front, barring FMCG, all other sectoral indices were closed in the green today. The sectors that led the rally were PSU Banks, Metals, Banking, Financial Services, IT, and Media
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