Nifty end above 18050 levels Sensex up 456 pts today
Sensex and Nifty Today: Indian stock market made an optimistic start on Tuesday amid tracking positive global cues. Nifty today opened at 18044.45 levels up by 108.1 points while Sensex made a positive start at 60408.24 levels up by 293.16 points. Indian markets traded above their neutral lines and closed on a strong note today.
Stock Market News and Updates Today
The equity benchmarks traded above their psychological levels today with Sensex and Nifty above 60500 and 18050 levels. The market sentiments remained upbeat due to sustained buying by the FIIs in the Indian equity markets. However, traders overlooked the latest report stating that India’s Industrial output growth weakens in July, as the IIP data showed growth of 2.4 percent in July as against 12.7 percent expansion in June.
Sentiments got further boosted, as India’s chief economic adviser V Anantha Nageswaran stated that India does not need to defend the rupee because its economic fundamentals are such that the currency can take care of itself. Indian markets. Meanwhile, the domestic rating agency Crisil in its latest report has said that non-bank finance companies (NBFCs) asset growth will jump to a four-year high of 11-12 percent in FY23.
On the global front, Asian markets were closed higher on Tuesday ahead of U.S. inflation data which is expected to show ease in August, reducing pressure for more interest rate hikes. European markets are trading slightly higher as investors remain cautious ahead of the US inflation data.
Sensex and Nifty at the close today
The Nifty50 index was up by 133.70 points or 0.75 percent and closed at 18070.05 levels while the Sensex gained by 455.95 points or 0.76 percent and finished at 60571.08 levels. The Bank Nifty index ended higher today by 299.10 points or 0.74 percent on the spot level and ended at 40873.10
The broader markets underperformed the benchmark indices today, the Nifty midcap index was up by 53.30 points or 0.16 percent and closed at 32398.75 levels. The Nifty smallcap index closed higher today by 15.65 points or 0.16 percent at 10084 levels.
Nifty50 Stocks top gainers and losers today
The top gainers in the Nifty50 Stocks were Tata Consumer, IndusInd Bank, Britannia, Bharti Airtel and Titan Company and the top losers were Shree Cements, Cipla, Eicher Motors, BPCL, and TCS
The midcap top gainers were Trent, L&T Finance, and SRF and the top losers were Dhani Services, Dr. Lal Path Labs, and CG Consumer
The top gainers in the Nifty smallcap index were Vakrangee, PNB Housing, and Edelweiss and the top losers were Ujjivan Small, Tanla Platforms, and KEI Industries.
The most active stocks in the Nifty index in terms of value were Bajaj Finserve, Reliance, and Bajaj Finance. The most active stocks in terms of volume were Tata Steel, SBI, and NTPC
On the sectoral front, the Metals, Consumer Durables, Financial Services, and the Banking sector led the rally today. The sectors that closed in the red were Realty, Oil & Gas, and IT
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