Sensex and Nifty Today : Indices Close Lower as Metal and IT Sectors Drag

November 1, 2023 admin

Sensex and Nifty Today, 1 Nov 2023: Indian stock markets ended lower for the second consecutive day on Wednesday despite positive global cues. The domestic markets opened slightly lower and extended losses as the session progressed.

The latest data from S&P Global showed that India’s manufacturing PMI decreased to 55.50 points in October. The PMI reading was down from 57.50 reported in September. However, indices tried recovery in early afternoon deals, with both Sensex and Nifty off the day’s low points, supported by positive cues from other Asian markets along with buying at Telecom and Realty counters.

Some support came after the Reserve Bank of India (RBI) Governor Shaktikanta Das said the growth momentum in India continues to be strong, and the official data for GDP expansion in the second quarter will surprise on the upside. RBI Governor Saktikanta Das said inflation is the first priority for the central bank at the moment.

However, investors remained cautious ahead of the US Federal Reserve interest rate decision, which is due later in the day.

Sensex and Nifty Today

The Nifty index closed lower by 90.45 points or 0.47 percent and closed at 18989.15 levels while the Sensex was down by 283.60 points or 0.44 percent and finished at 63591.33 levels. The Bank Nifty index ended lower by 145 points or 0.34 percent on the spot level and closed at 42700.95 levels.

The broader markets also closed lower today, as the Nifty midcap index was down by 101.85 points or 0.26 percent and closed at 38775.10 levels. The Nifty smallcap index ended lower by 9.15 points or 0.07 percent at 12640.75 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were Sun Pharma, BPCL, Hindalco, Bajaj Auto, and Reliance and the top losers were Adani Enterprise, Coal India, SBI Life, Asian Paints, and Adani Ports.

The top gainers in the Nifty midcap index were Idea, Indus Tower, and Zeel and the top losers were MFSL, Petronet, and Delhivery.

The smallcap top gainers were Birla Soft, Granules, and Karur Vysya while the top losers were Natco Pharma, India Mart, and BSE

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

On the sectoral front, Realty, Media, and PSU Bank closed higher while the sectors that closed in the red were Metal, IT, and Auto

Global Stock Market Updates Today

The other Asian stock markets ended higher on Wednesday, as investors assessed key economic data from the region. Investors remained optimistic ahead of the US Fed policy outcome, which is due later in the day, expecting to keep the interest rate the same.

South Korea’s Kospi gained 1.02% as October’s export data climbed to 5.1% on a YoY basis, for the first time in 13 months, while manufacturing PMI fell into contraction. China’s manufacturing PMI data came lower than the analyst’s estimates, Shanghai Index closed slightly higher by 0.14 percent, while Hangh Seng ended slightly lower by 0.06 percent.

Japan’s Nikkei gained the most, up by 2.35%, while Australia’s S&P ASX 200 extended its early gains, up by 0.85%. Elsewhere, the Straits Times, SET Composite, and Taiwan ended in the green territory while the Jakarta Composite is trading in the red.

European stock market indexes are trading higher on Wednesday following the gains in Asian and the US markets overnight. Investors are waiting for the US Fed interest rate decision later in the day, while the UK’s House price showed a surprise rise in October.

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Editorial desk