Nifty ends above 19950, Sensex up 474 pts, ITC, Kotak Bank top gainers
Sensex and Nifty Today July 20, 2023: Indian stock market indexes closed at new highs on Thursday. The domestic markets opened flat and then turned in the red. A recovery was witnessed in early noon deals, with both Sensex and Nifty turning positive, aided by firm cues from other Asian markets along with buying at Healthcare and FMCG stocks.
Traders were encouraged, as the Asian Development Bank (ADB) in its latest forecast has maintained the growth outlook for developing economies in Asia and the Pacific at 4.8 percent for 2023, and noted robust domestic demand continues to support the region’s recovery.
According to the Asian Development Outlook (ADO) July 2023, ADB forecasted that inflation in the region is expected to fall continuously, approaching pre-pandemic levels as fuel and food prices decline.
Stock Market Indexes Today
The Nifty 50 index closed higher by 146 points or 0.74 percent and closed at 19979.15 levels while the Sensex was up by 474.46 points or 0.71 percent and finished at 67571.90 levels. The Bank Nifty index ended higher by 517.60 points or 1.13 percent on the spot level and closed at 46186.90 levels
The broader markets underperformed their larger peers today, as the Nifty midcap index was up by 92.7 points or 0.25 percent and closed at 36931.70 levels. The Nifty smallcap index ended higher by 42.20 points or 0.37 percent at 11447.15 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were ITC, Kotak Bank, ICICI Bank, Dr. Reddy, and Cipla and the top losers were Reliance, Infy, Ultratech Cement, HCL Tech, and Bajaj Finserve
The top gainers in the Nifty midcap index were Polycab, Policybazar, and Gland Pharma and the top losers were Devyani, Idea, and Persistent
The smallcap top gainers were RVNL, Borosil, and Mazgaon Dock while the top losers were Amar Raja Battery, TV18 Broadcast, and Radicao
The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and ICICI Bank. The most active stocks in terms of volume were SBI, HDFC Bank, and ICICI Bank.
On the sectoral front, barring IT all other sectoral indices closed in the green, with Pharma, FMCG, and Banks gaining the most.
Global Stock Market Today
The other Asian stock market indexes mostly closed in the red on Thursday as investors digested the slew of economic data released this morning in the region. Nikkei extended early losses despite Japan’s surprise trade surplus data. Hang Seng and Shanghai erased early gains and turned negative, as China kept the benchmark lending rate unchanged as expected. South Korea’s Kospi also extended early losses and ended in the red.
European markets are trading higher on Thursday on the back of buying in mining stocks while the upside remained capped due to selling pressure in tech stocks on account of weak US earnings.
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Editorial desk
