Share Market Today: Nifty Closes at 21951, Sensex Plunges 790 pts, All Sectors in Red
Share Market Today, 27 February 2024: Indian share market indexes closed sharply lower on Wednesday. The domestic markets opened slightly higher as indicated by the Gift Nifty index, after hovering near their flat lines, indexes fell sharply in the mid-morning session.
The market sentiments were downbeat due to weak global cues. Investors remain sidelined ahead of the key inflation data from the US and Europe later this week as well as manufacturing activity data from China and several other countries.
The market participants also remained cautious as provisional data from the NSE showed foreign institutional investor’s (FIIs) net sold shares worth Rs 1,509.16 crore on February 27, 2024.
Share Market Today
The Nifty 50 index closed lower by 247.20 points or 1.11 percent and closed at 21951.15 levels while the Sensex was down by 790.33 points or 1.08 percent and finished at 72304.89 levels. The Bank Nifty index ended lower by 624.90 points or 1.34 percent on the spot level and closed at the 45963.15 level.
The broader markets underperformed with their larger peers today, as the Nifty midcap index was down by 952.10 points or 1.94 percent and closed at 48089.10 levels. The Nifty smallcap index ended lower by 302.55 points or 1.87 percent at 15875.15 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Hindustan Unilever, Infy, TCS, and Bharti Airtel, and the top losers were Power Grid, Apollo Hospital, Eicher Motors, Bajaj Auto, and Maruti.
The top gainers in the Nifty midcap index were MFSL, Policy Bazar, and Indus Tower and the top losers were Idea, Zeel, and Godrej Properties.
The smallcap top gainers were Aegies Chemical, KEC International, and Tejas Network while the top losers were HFCL, NLC India, and Welspun.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Tata Motors, and Reliance. The most active stocks in terms of volume were Tata Steel, Power Grid, and Tata Motors.
On the sectoral front, all sectoral indices closed in the red, with Media, Energy, and PSU Bank falling the most.
Global Stock Market Today
The other Asian stock market indexes mostly closed lower on Wednesday, as investors are looking ahead to US inflation and China’s manufacturing activity data later this week. Investors digested the Reserve Bank of New Zealand’s decision to keep the interest rate steady. Shanghai and Hang Seng fell the most as Hong Kong scrapped rules to tighten its property market at its budget announcement.
Japan’s Nikkei 225 ended marginally lower by 0.08%, while Australia’s S&P ASX 200 was flat and New Zealand’s benchmark S&P ZZX 50 closed 0.6% higher after the Central Bank’s interest rate decision. Shanghai and Hang Seng fell the most in the region, down by 1.95% and 1.41% respectively. South Korea’s Kospi index gained 1.03%, while the Straits Times and SET Composite closed in the red on Wednesday.
European stock market indexes are trading mixed near their flatline on Wednesday, as investors remain cautious ahead of the economic data from the US and European region later this week.
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Editorial desk