Sensex, Nifty end green | RBI hikes 50 bps repo rate
Sensex and Nifty Today: Indian stock market indexes opened higher on Friday taking positive cues from their Asian peers. Nifty today opened higher at 17423.65 levels, up by 41.62 points while Sensex made a positive opening of 122.24 points at 58421.04 levels. In the last hour, markets trimmed their early gains and closed slightly higher.
Stock Markets Updates Today
The domestic markets added some decent gains in the morning deals after the Reserve Bank of India (RBI) hiked the key interest rate by 50 bps to 5.40 percent to curb inflation. The central bank retained its FY23 GDP growth forecast at 7.2%. Markets got further support with a private report stating that upgrading labor laws, simplifying taxation, and creating a stable tariff environment are imperatives to facilitate a larger trade between India and the rest of the world.
Meanwhile, SEBI has amended mutual fund rules to remove the applicability of the definition of associate to sponsors that invest in various companies on behalf of the beneficiaries of insurance policies. The new rules will become effective from 3rd September.
On the global front, the other Asian market indexes closed in the green on Friday ahead of the US unemployment data which is due later in the day. European markets are trading marginally lower as investors preferred to wait and see mode ahead of US payroll data.
Sensex and Nifty at the close today
The Nifty index was up by 15.50 points or 0.09 percent and closed at 17397.50 levels while Sensex gained by 89.13 points or 0.15 percent and finished at 58387.93 levels. The Bank Nifty index ended higher today by 165.05 points or 0.44 percent on the spot level and ended at 37920.60
The broader markets closed mixed today, as the Nifty midcap index gained by 67.50 points or 0.22 percent and closed at 30258.35 levels. The Nifty smallcap index closed lower today by 5.40 points or 0.06 percent at 9318 levels.
Nifty top gainers and losers today
The top gainers in the Nifty50 index were Ultratech Cement, Shree Cement, ICICI Bank, UPL, and Bharti Airtel whereas the top losers were Hindalco, Britannia, M&M, Eicher Motors, and Reliance
The midcap top gainers were Mannapuram Fin, Oil India, and JSW Energy and the top losers were Balkrishna Ind, Alembic Pharma, and CG Consumer
The top gainers in the Nifty smallcap index were FDC, Spice Jet, and NBCC (India) and the top losers were Graphite India, Future Retail, and Amber Enterprise
The most active stocks in the Nifty index in terms of value were Reliance ICICI Bank, and SBI The most active stocks in terms of volume were ONGC, Tata Steel, and NTPC
On the sectoral front, IT, Bank, Financial Services, Realty and FMCG sectoral indices closed higher today. The sectors that closed in the red today were Auto, Consumer Durables, Media, Metals, and Pharma
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