Nifty Dips Below 19800, Sensex Down 48 points, IT Sector Lags While Pharma Shine
Sensex and Nifty Today, 24 November 2023: Indian stock markets ended the lackluster session with minor cuts on Friday. The domestic markets opened slightly higher and were lingering below their neutral lines in most parts of the session, with both Sensex and nifty traded in red terrain, on the back of selling at IT and TECK counters.
Traders remained sidelined and reluctant to make significant moves in the sideways markets. However, the downside remained capped, as the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, and Government of India are collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports from the country.
Sensex and Nifty Today
The Nifty 50 index closed lower by 7.30 points or 0.04 percent and closed at 19794.70 levels while the Sensex was down by 47.77 points or 0.07 percent and finished at 65970.04 levels. The Bank Nifty index ended higher by 191.60 points or 0.44 percent on the spot level and closed at 43769.10 levels.
The broader markets closed slightly higher today, as the Nifty midcap index was up by 23.15 points or 0.06 percent and closed at 42050.45 levels. The Nifty smallcap index ended higher by 42 points or 0.30 percent at 13827.50 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Cipla, Adani Enterprise, Divis Lab, Hindalco, and Axis Bank, and the top losers were Apollo Hospital, Wipro, HCL Tech, TCS, and Britannia.
The top gainers in the Nifty midcap index were BHEL, Bharat Dynamics, and Adani Power and the top losers were CG Power, PayTM, and M&MFin.
The smallcap top gainers were Data Patterns, Aegies Chemical, and Granules while the top losers were Manapurram Fin, Renuka Sugar, and IEX.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and Axis Bank. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and ICICI Bank.
On the sectoral front Pharma, Metal, and Bank closed higher while the sectors that closed in the red were IT, FMCG, and PSU Bank.
Global Stock Market Updates Today
The other Asian stock market indexes mostly closed lower on Friday, as investors assessed the key economic data from the region. Japan’s Nikkei resumed its trading after a holiday. The index trimmed early gains and closed higher by 0.52% as the country’s core consumer prices rose at a slightly slower-than-expected pace in October. Meanwhile, Japan’s Jibun bank flash factory activity data remained in contraction territory in November.
Australia’s S&P ASX 200 index also trimmed early gains and ended higher by 0.17%, while South Korea’s Kospi ended lower by 0.73%. Shanghai index and Hang Seng fell sharply by 0.69% and 2% respectively. Elsewhere, Straits Times, Taiwan, and SET Compositive ended lower, while Jakarta is trading slightly higher.
European stock markets are trading near their neutral lines on Friday, as investors remain cautious after hitting the indexes at a nine-week high. The final GDP numbers from Germany confirmed the earlier reading of a 0.1% month-on-month contraction. GDP was down 0.8% in the previous year.
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