Sensex and Nifty ends marginally lower, Nifty Midcap down 714 pts
Sensex and Nifty ends marginally lower, Nifty Midcap down 714 pts
At the close, Indian markets fell sharply and erased all early gains. Nifty fell 58.30 points or 0.32 percent and closed at 18418.75 while Sensex was down by 49.54 points or 0.08 percent and finished at 61716.05 levels. The Bank Nifty spot price declined 144.30 points or 0.36 percent and ended at 39540.50 levels.
The broader markets fell sharply today as Nifty midcap and smallcap indexes closed in the deep red. The Nifty midcap index was down by 714.10 points or 2.17 percent and closed at 32170.70 levels. The Nifty smallcap index declined 196.85 points or 1.69 percent and ended at 11480.70 levels.
The top five gainers in the Nifty 50 index were Tech Mahindra, LT, Infosys, Kotak Mahindra, and Bajaj Finserve. The top five losers in the Nifty 50 index were ITC, Tata Motors, Eicher Motors, Hindustan Unilever, and Titan.
The most active stocks in the nifty 50 index in terms of value were Tata Motors, Infosys, and ITC. The most active stocks in the Nifty 50 index in terms of volume were ITC, Tata Motors, and SBI.
On a sectoral front, barring IT and Financial Services all other sectors closed in the red today. The sectors that dragged the markets were PSU Bank, Metals, FMCG, Realty, Consumer Durables and Automobiles
Sensex trading above 62K, Nifty trading above 100 pts
Indian stock market indexes are trading in fine fettle in the afternoon session with the gain of around half a percent each on account of sustained buying in IT, Capital Goods, and TECK stocks. Sensex and Nifty are trading above 62K and 18550 marks, respectively.
The domestic market sentiments got boosted as Union MInister Shobha Karandlaje said the Centre has infused Rs 131000 crore to boost agriculture and allied sectors with special emphasis on becoming an export-oriented economy as India has tremendous potential to satiate global demand.
Adding more optimism, the preliminary data showed that the country’s exports rose by 40.5 percent to $15.13 billion during the first 14 days of October month, on account of healthy performance by key sectors such as petroleum products, engineering, and chemicals.
Finance Minister Nirmala Sitharaman indicated that the government was indeed open to accelerating the economic recovery through such largesse if required. On Tuesday, FM has said that India is in no hurry to withdraw the Covid-19 induced stimulus rather it will continue to build support for further economic growth.
At 1.20 pm, Sensex and Nifty are trading higher by 0.68 percent and 0.53 percent respectively. The Bank Nifty spot price is also trading higher by 0.29 percent.
Sensex and Nifty are trading higher, IT stocks are in focus
Indian stock markets opened the gap up on Tuesday amid positive cues from other Asian markets. Nifty opened at 18602.35, up by 125.3 while Sensex made a positive opening of 390.89 points at 62156.48 levels. The Bank Nifty spot price also opened higher at 39927.30, up by 242.5 points from the previous close.
At 11.15 am, the Indian market indexes trimmed their early gains but are trading above their neutral lines. Sensex and Nifty are trading higher by 0.43 percent and 0.35 percent respectively. The Bank Nifty spot price is trading almost flat. The nifty midcap and smallcap indexes are trading mixed, the midcap index is trading 0.49 percent lower whereas smallcap index is trading 0.26 percent higher.
Tech Mahindra, Larsen, and HCL Tech are trading as the top gaining stocks whereas ITC, Titan, and Eicher Motors are trading as the top losing stocks in the Nifty50 index.
On a sectoral front, IT, Banks, and Financial Services are trading in the green whereas the Metal, FMCG, and Realty sectors are dragging the market.
You may also like to read, Nifty and Bank Nifty Prediction for Tomorrow, 19 Oct 2021
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