Nifty end above 18700, Sensex up 350 pts, all sectors in the green

 

Nifty and Sensex Today 7 June 2023: Indian stock markets closed higher on Wednesday, amid positive global cues. The market sentiments were optimistic as FIIs turned into net buyers on Tuesday after consecutive selling for three sessions.  Foreign Institutional Investors (FIIs) bought equities worth Rs 385.71 crore on Tuesday, according to exchange data. 

Investors took support from ICRA, the credit rating agency in its latest report stating that India Inc. has witnessed sequential expansion in margins in Q4 FY2023, with a YoY increase of 11.4%, while the sequential revenue growth was relatively moderate at 5.2%.

However, gains remain capped as investors remain cautious ahead of the Reserve Bank of India`s (RBI) decision at the ongoing bi-monthly monetary policy review, which is due on Thursday.

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 127.40 points or 0.68 percent and closed at 18726.40 levels while the Sensex was up by 350.08 points or 0.56 percent and finished at 63142.96 levels. The Bank Nifty index ended higher by 110.75 points or 0.25 percent on the spot level and closed at 44275.30 levels

The broader markets outperformed the benchmarks today, as the Nifty midcap index was up by 354.20 points or 1.04 percent and closed at 34390.10 levels. The Nifty smallcap index ended higher by 140.30 points or 1.35 percent at 10555.55 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Britannia, Tata Consumer, BPCL, Nestle India, and HDFC Life and the top losers were Kotak Bank, Bajaj Finance, M&M, Maruti, and Adani Ports

The top gainers in the Nifty midcap index were Torrent Power, IDEA, and TTML  and the top losers were Polycab, NHPC, and CGPower

The smallcap top gainers were Suzlon, Renuka, and Rail Vikas Nigam while the top losers were Cochin Shipyard, BDL, and Raymond

The most active stocks in the Nifty index in terms of value were HDFC, Bank, ICICI Bank, and Axis Bank The most active stocks in terms of volume were Tata Steel, Coal India, and Tata Motors.

On the sectoral front, all sectoral indices were closed in the green on Wednesday, the sectors that rallied the most were Realty, Metals, and FMCG

 

Global Stock Market Today

 

On the global front, Asian stock markets closed mostly in the green on Wednesday, tracking gains from Wall Street overnight. Traders were also concerned about China’s trade data, which missed market expectations after its exports declined 7.5% YoY, while imports fell slightly lower.

Shanghai erased most parts of early gains and closed slightly higher while Hang Seng ended higher by 0.79 percent on Wednesday. Nikkei fell the most, down around 2%, as investors preferred to book profit after a rally. Kospi erased early gains and closed flat. European markets are trading lower as China’s export data dented the market sentiments.

 

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You may also like to read,  Stock Market Prediction Next Week (29 May- 2 June 2023)

                                                Stock Market Live: Sensex, Nifty trading higher amid positive global cues

 

Happy Investing!!

Editorial desk