Nifty 50 Climbs Above 19400, Sensex Soars 595 Pts, Amid Global Optimism
Sensex and Nifty 50 Today, 6 Nov 2023: Indian stock market indexes ended with significant gains on Monday. The domestic markets opened a gap-up and extended their early gains amid positive global cues.
Indian equity markets traded positively throughout the session on the back of improving global cues and positive second-quarter (Q2FY24) earnings. Traders were encouraged after Fitch Ratings revised India’s medium-term growth estimate upward by 70 basis points to 6.2 percent from 5.5 percent on Monday.
The market sentiments remained upbeat as a survey by prominent economic think-tank NCAER showed an all-round improvement in business sentiments in the second quarter of the current fiscal. The Business Confidence Index (BCI) rose to 140.7 in the second quarter from 128 reported in the first quarter of FY2023-24.
Stock Market Indexes Today
The Nifty 50 index closed higher by 181.15 points or 0.94 percent and closed at 19411.75 levels while the Sensex was up by 594.91 points or 0.92 percent and finished at 64958.69 levels. The Bank Nifty index ended higher by 301.15 points or 0.70 percent on the spot level and closed at 43619.40 levels.
The broader markets also closed higher in line with their larger peers today, as the Nifty midcap index was up by 349.70 points or 0.88 percent and closed at 39937.10 levels. The Nifty smallcap index ended higher by 179.60 points or 1.39 percent at 13144.65 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were DivisLab, Hero Motors, Eicher Motors, L&T, and Axis Bank, and the top losers were SBI, HUL, Titan, Tata Motors, and Cipla.
The top gainers in the Nifty midcap index were Deepak Nitrate, Nykaa, and Bharat Forge and the top losers were PayTM, Zeel, and Indian Bank
The smallcap top gainers were Amber, Metropolis, and JK Lakshmi Cement while the top losers were Angel One, Trevini Turbine, and KEC International.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, SBI, and HDFC Bank.
On the sectoral front, Metal, Energy, and Pharma gained the most while the sectors that closed in the red were PSU Bank and Consumer Durables.
Global Stock Market Updates Today
The other Asian stock market indexes ended higher on Monday tracking positive cues from Wall Street on Friday, as a weaker-than-expected US job report raised hopes that the Fed has done its rate hiking cycle. South Korea’s Kospi jumped 5.36%, gaining the most in the region after the country re-imposed a ban on short-selling.
Japan’s stock market indexes resumed trading after a long weekend, and the Nikkei index ended higher by 2.32%. The country’s business activity data expanded but at the softest pace in October.
Australia’s S&P ASX 200 index is up by 0.28%. Shanghai and Hang Seng indexes also extended their early gains and closed higher by 0.90% and 1.68% respectively.
Elsewhere, the Straits Times, SET Composite, Jakarta Composite, and Taiwan all ended in the green on the first trading session of the week.
European stock market indexes are trading marginally lower on Monday, as investors are booking some profits after a strong rally in the last week.
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