Share Market Today, 1 March 2024: Indian stock market indexes closed with strong gains on Friday, supported by impressive GDP data. The domestic equity markets opened higher and extended their early gains, as the session progressed and closed near the day high. Sensex and Nifty both hit a new record high on Friday.
The market sentiments were upbeat as India reported a faster-than-expected 8.4 percent growth in Q3 GDP led by government capex spending. The National Statistical Office (NSO), which released the data revised upward the FY24 growth estimate to 7.6 percent from the 7.3 percent projected in January. Besides, the HSBC manufacturing PMI data showed further improvement in February compared to the previous month.
The positive global markets and fresh foreign fund inflows further boosted the equity market sentiments. Domestic sentiments remained buoyant with a labor ministry statement stating that retail inflation for industrial workers eased to 4.59 percent in January 2024 compared to 4.91 percent in December 2023 mainly due to lower prices of certain food items.
Share Market Today
The Nifty 50 index closed higher by 355.95 points or 1.62 percent and closed at 22338.75 levels while the Sensex was up by 1245.05 points or 1.72 percent and finished at 73745.35 levels. The Bank Nifty index ended higher by 1166 points or 2.53 percent on the spot level and closed at the 47286.90 level.
The broader markets also closed higher today, as the Nifty midcap index was up by 454.90 points or 0.94 percent and closed at 48790.60 levels. The Nifty smallcap index ended higher by 82.75 points or 0.52 percent at 16058.95 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Tata Steel, JSW Steel, L&T, Titan, and IndusInd Bank, and the top losers were Dr. Reddy, Sun Pharma, HCL Tech, Infy, and Britannia.
The top gainers in the Nifty midcap index were SAIL, OIL, and Tube Invest of India, and the top losers were Max Health, Policy Bazar, and Zeel.
The smallcap top gainers were Data Pattern, Metropolis, and IIFL while the top losers were Medanta, Amber, and KRBL.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Tata Steel, and Reliance. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and SBI.
On the sectoral front, Metal, Bank, and Auto closed higher while the sectors that closed in the red were Media, Pharma, and IT.
Global Stock Market Today
The other Asian stock market indexes closed mixed on Friday. Japan’s Nikkei 225 gained the most in the region, just below the 40,000 mark, while Australia’s S&P ASX 200 ended 0.6% higher. China’s Shanghai index closed higher by 0.39%, as investors digested the manufacturing PMI data. China’s official manufacturing PMI data showed a tick lower than last month’s data, but was in line with the expectation, while the private data came slightly higher in February compared to the last month.
South Korea’s Kospi is shut today on account of the Independence Day holiday. Hang Seng ended higher by 0.47%. The Straits Times and Taiwan closed in the red, while the SET composite closed slightly higher in the last trading session of the week.
European stock markets are trading mixed on Friday as investors remain cautious ahead of the eurozone inflation data later today.
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Editorial desk