Nifty Surges Above 19,750, Sensex Gains 276 Pts – Metal Stocks Shine, PSU Banks Dip

 

Sensex and Nifty Today, 21 November 2023: Indian stock markets ended with modest gains on Tuesday, snapping a two-day losing streak. The domestic market sentiments were boosted following positive cues from Wall Street overnight and some support from Asian markets in the morning deal.

The market sentiments remained positive, with a private report stating that India Inc.’s net profit as a percentage of the country`s gross domestic product (GDP) is just shy of reaching 5 percent, bolstered by strong earnings growth in the second quarter of 2023-24. 

However, traders shrugged off the retail inflation data for agricultural laborers and rural workers, which rose marginally to 7.08 percent and 6.92 percent in October, respectively, from 6.70 percent and 6.55 percent respectively in September 2023 due to higher prices of certain food items.

 

Sensex and Nifty Today

 

The Nifty 50 index closed higher by 89.40 points or 0.45 percent and closed at 19783.40 levels, while the Sensex was up by 275.63 points or 0.42 percent and finished at 65930.78 levels. The Bank Nifty index ended higher by 104.20 points or 0.24 percent on the spot level and closed at 43689.15 levels.

The broader markets closed mixed today, as the Nifty midcap index was up by 27.05 points or 0.06 percent and closed at 41883.50 levels. The Nifty smallcap index ended lower by 15 points or 0.11 percent at 13857.80 levels.

 

Nifty 50 Top Gainers & Losers 

 

The top gainers in the Nifty 50 index were SBI Life, HDFC Life, Adani Enterprise, Hindalco, and JSW Steel, and the top losers were Coal India, ONGC, BPCL, LTIM, and TechM

The top gainers in the Nifty midcap index were Oberoi Realty, Ashok Leyland, and Zeel and the top losers were KPIT Tech, Mankind, and Max Health. 

The smallcap top gainers were SJVN, KEI Industries, and Credit Access, while the top losers were BSE, Suzlon, and NLCIndia.

The most active stocks in the Nifty index in terms of value were HDFC Bank, Bajaj Finance, and Reliance. The most active stocks in terms of volume were  Tata Steel, Coal India, and SBI.

On the sectoral front, Metal, Realty, and Media closed higher, while the sectors that closed in the red were PSU Bank, IT, and FMCG.

 

Global Stock Market Updates Today

 

The other Asian stock market indexes closed mixed on Tuesday following the gains from Wall Street overnight and as China’s property sectors rallied. China’s property sectors gained after Bloomberg reported that the Chinese regulators are drafting a list of 50 developers eligible for a range of financing. 

Shanghai index erased early gains and closed flat, while Hang Seng also erased most of its early gains and ended slightly lower by 0.18%. Japan’s Nikkei ended slightly lower by 0.10%, while Australia’s S&P ASX 200 index closed slightly higher by 0.28%. South Korea’s Kospi ended slightly higher by 0.77% as the country’s producer prices fell for the first time in three months in October. 

Elsewhere, the Straits Times, SET Composite, and Jakarta ended in the red, while Taiwan closed higher due to a rally in chip stocks. European stock markets opened mixed on Tuesday as investors remain cautious ahead of the US FOMC minutes.

 

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Happy Investing!!

Editorial desk