Closing Bell: Sensex up 617 pts, Nifty end near 16000
Sensex and Nifty Today– Indian stock markets opened marginally higher on Wednesday amid mixed global cues. Nifty today opened at 15818.20 levels, up by 7.35 points only while Sensex made a positive opening of 36.35 points at 53170.70 levels. Indian market indexes gradually extended their early gains and closed on a strong note today.
Stock Market News Today
The Indian market sentiments were upbeat tracking a sharp fall in the crude oil prices overnight, Brent plunged around 10% for the first time since May. Markets got some initial support from Institutional buying, as Tuesday FIIs were the net buyers in the Indian equity segment.
However, some cautiousness was seen in the markets amid concerns about the hike in Covid cases and interest rates globally and their impact on economic growth. Indian markets trimmed their early gains in the morning deal due to weakness in Asian peers. In the afternoon session, the markets bounced back and gradually moved in the northward direction.
Traders took note of the report that Union food and consumer affairs minister Piyush Goyal has asked states to encourage farmers to increase sowing area for paddy and wheat as higher domestic production will boost India’s exports.
On the global front, other Asian markets were closed in the red on Wednesday, dragged by weakness in materials and energy stocks as commodity prices tumbled on the prospects of a looming recession hurting demand. The surge in Covid-19 infection in China also hit market sentiments as investors are worried about another lockdown. European markets are trading higher on Wednesday on the Amazon deal.
Sensex and Nifty at the close today
The Nifty index gained by 178.95 points or 1.13 percent and closed at 15989.80 levels while Sensex was up by 616.62 points or 1.16 percent and finished at 53750.97 levels. The Bank Nifty index ended higher today by 508.35 points or 1.50 percent on the spot level and ended at 34324.25
The broader markets also closed higher today, as the Nifty midcap index gained by 506.25 points or 1.90 percent and closed at 27204.35 levels. The Nifty smallcap index closed higher by 42.15 points or 0.49 percent and finished at the 8568.65 level
Nifty top gainers and losers today
The top gainer in the Nifty50 index was Britannia, Bajaj Finance, Bajaj Finserve, HUL, and Eicher Motors whereas the top loser was ONGC, Power Grid, NTPC, HDFC Life, and Hindalco
The midcap top gainers were Bombay Burmah, Emami, and Dalmia Bharat and the top losers were Oil India, Ajanta, Pharma, and Dhani Services
The top gainers in the Nifty smallcap index were CEAT, KEC International, and Ujjivan Small and the top losers were Balrampur Chini, Cyient, and Bajaj Electric
The most active stocks in the Nifty index in terms of value were Reliance, Bajaj Finance, and Hindustan Unilever The most active stocks in terms of volume were ONGC, Hindalco, and ITC
On a sectoral front, barring Energy all other sectoral indices were closed higher today. The sectors that led the rally were FMCG, Auto, Realty, Consumer Durables, Banking, and Financials.
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