Nifty & Sensex Close in the Green on 2024’s First Trading Day; Broader Markets Shine
Sensex and Nifty Today 1 January 2024: Indian stock markets ended the volatile session with minor gains in the first trading session of 2024. The equity benchmarks opened marginally lower and traded sideways in most of the session. In the last trade, the domestic markets traded volatile and closed in the green.
The trading activity remains subdued with global markets being closed due to New Year’s holiday. Traders remained cautious as India recorded a trade deficit with nine of its top ten trade partners in the first seven months of 2023-24, with the US being the only country with which exports exceeded imports.
However, traders were encouraged as British Prime Minister Rishi Sunak is keen to clinch a free trade agreement (FTA) with India in time for Easter, which falls at the end of March 2024. The India-UK FTA talks that started in January last year aimed to significantly enhance the GBP 36-billion bilateral trading partnership. A new round of negotiations is set to start early in the new year after the thirteenth round concluded on December 15.
Sensex and Nifty Today
The Nifty 50 index closed slightly higher by 10.50 points or 0.05 percent and closed at 21741.90 levels while the Sensex was up by 31.68 points or 0.04 percent and finished at 72271.94 levels. The Bank Nifty index ended slightly lower by 57.95 points or 0.12 percent on the spot level and closed at 48234.30 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 290.80 points or 0.63 percent and closed at 46472.45 levels. The Nifty smallcap index ended higher by 82.45 points or 0.54 percent at 15226.10 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Nestle, Adani Enterprise, Adani Ports, TechM, and Coal India and the top losers were Eicher Motors, Bharti Airtel, M&M, Bajaj Auto, and Hindalco.
The top gainers in the Nifty midcap index were Idea, Yes Bank, and LIC Hsg Fin, and the top losers were Dixon, Alkem, and KPIT Tech
The smallcap top gainers were JBM Auto, GNFC, and CIE India, while the top losers were Sonata Soft, BSoft, and KEI.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Tata Motors, and Adani Enterprise. The most active stocks in terms of volume were Tata Steel, Tata Motors, and Coal India.
On the sectoral front, Media, PSU Bank, and FMCG closed higher, while the sectors that closed in the red were Nifty Fin Serv, Auto, and Bank.
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Editorial desk
