Nifty end above 16500, Sensex up 630 pts today
Sensex and Nifty Today: Indian stock markets made a huge gap-up opening on Wednesday, tracking positive cues from the US markets overnight and Asian peers in the morning. The Nifty index made a strong opening at 16562.80 levels, up by 222.25 points while Sensex made a gap-up opening of 718.5 points at 55486.12 levels. After opening a gap-up, the benchmark indices traded in a narrow range and closed strong today.
Stock Market News and Updates Today
Other than the optimistic global markets the market sentiments remain upbeat as the commerce and industry ministry stated that foreign direct investment FDI) inflows in Research and Development sectors have increased as compared to the last year. The markets also got support from Economic Affairs Secretary Ajay Seth’s statement that the rupee is managed well and there is nothing to be worried about the depreciation in the local currency against the dollar.
However, traders took note of Rajya Sabha informed that cases of fraud on public sector banks have come down by about 50 percent in FY22 to 2,369 as against 4680 recorded in the previous fiscal. The amount involved in the frauds too declined to Rs 3204 crore from Rs 7306 crore reported in the last fiscal.
On the global front, the Asian markets closed higher on Wednesday due to strong US corporate earnings and the resumption of Russian gas supply to Europe lifted the market sentiments. The European markets are trading higher as the worries about gas supplies ease but investors remain cautious ahead of the European Central Bank Policy due on Thursday.
Sensex and Nifty at the close today
The Nifty index gained 180.30 points or 1.10 percent and closed at 16520.85 levels while Sensex was up by 629.91 points or 1.15 percent and finished at 55397.53 levels. The Bank Nifty index ended higher today by 251.75 points or 0.70 percent on the spot level and ended at 35972.10
The broader markets underperformed the benchmarks today as the Nifty midcap index gained by 53.45 points or 0.19 percent and closed at 28645.40 levels. The Nifty smallcap index closed higher by 72.15 points or 0.81 percent and finished at the 9025.40 level
Nifty top gainers and losers today
The top gainers in the Nifty50 index were Tech Mahindra, ONGC, HCL Tech, TCS, and Reliance whereas the top losers were HDFC Life, M&M, Eicher Motors, Sun Pharma, and Adani Ports.
The midcap top gainers were L&T Technology, Oil India, and Mphasis and the top losers were Hind Zinc, Polycab, and Torrent Power
The top gainers in the Nifty smallcap index were PNB Housing Fin, Firstsource Solutions, and Trident and the top losers were Westlife Dev, Blue start, and TV18 Broadcast
The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and TCS. The most active stocks in terms of volume were ONGC, SBI, and Tata Motors
On the sectoral front, Auto Media, and Realty were closed lower today. The sectors that lifted the markets were IT, FMCG, Metals, OIL & Gas, and Banks.
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