Nifty and Sensex Rise Amid Energy Sector Surge and IT Sector Slump

December 19, 2023 admin

Sensex and Nifty Today 19 December 2023: Indian stock markets ended Tuesday’s volatile session with minor gains. The domestic markets opened higher following gains from Wall Street and soon turned red. The indices recovered in the afternoon session following positive cues from Asian markets and ended slightly higher.

The market sentiments were downbeat as the provisional data from the National Stock Exchange (NSE) showed that foreign institutional investors (FIIs) net sold shares worth Rs 33.51 crore on December 18.

However, losses were capped as traders took some support with the report that domestic rating agency ICRA revised India’s FY24 GDP growth forecast to 6.5% from 6.2% earlier. The rating agency further said that the revision has been done because it feels the deflation in commodity prices will be sustained, and there are expectations of better growth in the October-December period than previous estimates.

Meanwhile, India and the UK have finished the 13th round of negotiations on the Free Trade Agreement after four months of in-person and virtual meetings and the next round will be held in January.

Sensex and Nifty Today

The Nifty 50 index closed higher by 34.45 points or 0.16 percent and closed at 21453.10 levels, while the Sensex was up by 122.09 points or 0.17 percent and finished at 71437.19 levels. The Bank Nifty index ended edged up by 3.2 points or 0.01 percent on the spot level and closed at 47870.90 levels.

The broader markets underperformed their larger peers today, as the Nifty midcap index was down by 172.70 points or 0.38 percent and closed at 45512.45 levels. The Nifty smallcap index ended lower by 17.55 points or 0.12 percent at 14951.20 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were Coal India, Nestle India, NTPC, Tata Consumer, and Cipla, and the top losers were Adani Port, Hero Motors, SBI Life, Wipro, and Adani Enterprise.

The top gainers in the Nifty midcap index were IRFC, OIL, and Devyani International, and the top losers were SAIL, ZEEL, and LTTS

The smallcap top gainers were Hind Copper, IOB, and HFCL, while the top losers were TTML, National Aluminum, and CESC.

The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and SBI. The most active stocks in terms of volume were Coal India, Tata Steel, and SBI.

On the sectoral front, Energy, FMCG, and PSU Bank closed higher while the sectors that closed in the red were IT, Auto, and Media.

Global Stock Market Updates Today

The other Asian stock market indexes mostly recovered and closed in the green territory on Tuesday, as the Bank of Japan (BoJ) kept the policy rates unchanged as widely expected. Japan’s Nikkei pared early losses and closed sharply higher by 1.32%. Australia’s S&P ASX 200 index was also up by 0.84% as investors digested the RBA’s minutes for December policy.

South Korea’s Kospi ended slightly higher by 0.07%, while Shanghai closed marginally higher by 0.05%. Meanwhile, Hang Seng fell to 0.75% in the final hour of trading. The Straits Times, SET Composite, and Jakarta gained, while Taiwan ended in negative territory. European stock markets are mostly higher on Tuesday after a positive session from US and Asian markets.

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Editorial desk