Sensex, Nifty erased early losses and closed flat today
Closing Bell: Sensex, Nifty erased early losses and closed flat today
The Indian stock market indexes opened lower on Friday amid negative cues from the global markets. The Nifty 50 index opened at 18185, down by 72.8 points while Sensex made a negative opening of 194.98 points at 61040.32 levels. Markets fell sharply after opening and then erased most of their losses and closed almost flat today.
Stock Market News Today
Negative cues from other Asian markets impacted domestic market sentiments today. Traders were cautious, as a domestic rating agency said that the upcoming budget is unlikely to make any provision for recapitalization of state-owned banks, as over Rs 3.36 lakh crore has been spent on the banks in the last six years.
Besides this, the rating agency ICRA has revised downwards the revenue growth forecast for the auto components industry in the current year to 15-17 percent. According to the rating agency, the impact of the Omicron third wave and delayed recovery in semiconductors shortage and muted two-wheeler demand are the reasons for the downwards revenue growth forecast.
Markets recovered most of the intraday losses in the afternoon session, after the release of December wholesale price-based inflation (WPI) numbers. According to the Ministry of Commerce & Industry, the country’s WPI number eased to 13.56 percent in December. The number reported in the previous month was 14.23 percent.
The wholesale price-based inflation (WPI) across the country eased to 13.56% in December, according to data released by the Ministry of Commerce & Industry. It stood at 1.95% in December 2020. The WPI had surged to over a decade high of 14.23% in November (2021) owing to the hardening of prices of basic metals, mineral oils, natural gas, and crude petroleum. The WPI for October was revised to 13.83% from 12.54%, the data showed
Global Stock Market Updates Today
On a global front, Asian markets closed mostly in the red today after China’s exports and imports grew at slower rates at the end of the year. European markets are trading negatively tracking the weak cues from the US and Asian market peers and ahead of the UK’s GDP data expected later today. The US future indexes, Dow and Nasdaq futures are trading marginally higher at this moment.
Sensex and Nifty at the Close
At the close, Nifty was down by 2.05 points or 0.01percent and closed at 18255.75 levels while Sensex declined 12.27 points or 0.02 percent and finished at 61223.03 levels. The Bank Nifty index closed lower today, it was down by 99.55 points or 0.26 percent on spot and ended at 38370.40 levels.
The broader markets closed mixed today, as the Nifty midcap closed lower and smallcap indexes gained today. The Nifty midcap index was down by 7.55 points or 0.02 percent and closed at 31989.65 levels. The Nifty smallcap index gained by 88.35 points or 0.75 percent and finished at 11909.50 levels.
Top Nifty Gainers and Losers Today
The top gainers in the Nifty 50 index were Tata Consumer, IOC, TCS, Infosys, and Adani Ports. Whereas the top losers were Asian Paints, Axis Bank, UPL, HUL, and ONGC.
The top gainers in the Nifty midcap index were RBL Bank, Bharat Elec, and IRCTC and the losers were Mindtree, AU Small Finance, and Guj State Petro.
The top gainers in the Nifty smallcap index were Bharat Dynamics, Rossari, and EID Parry and the losers were Dilip Buildcon, Carborundum, and Birlasoft
The most active stocks in the Nifty index in terms of value were Reliance, Infy, and TCS. The most active stocks in terms of volume were Axis Bank, IOC, and Wipro
On a sectoral front, IT, Realty, and Consumer Durables were closed in the green today. The sectors that closed in the red were FMCG, Pharma, Auto, and Banking.
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Happy Investing!!
Editorial desk
