Stock Market Today: Nifty Ends Below 19450; Sensex Down 366 pts

 

Stock Market Today Aug 11, 2023: Indian stock markets ended lower on Friday following the negative cues from Asian markets on growing tension between the US and China. The domestic indices slipped soon after opening flat to a positive note and traded below their neutral line throughout the day.

Investors avoided taking any long position ahead of India’s Index of Industrial Production (IIP) data to be out later in the day. Besides, concerns about the revised inflation forecast by RBI and 10 percent incremental CRR from August 12 onwards for banks, weigh on the investors` sentiment. 

As per a private report, India`s headline retail inflation is expected to have crashed past the upper bound of the Reserve Bank of India`s (RBI) 2-6 percent tolerance band in July on its way to a nine-month high due to a surge in vegetable and food  prices

 

Stock Market Indexes Today

 

The Nifty 50 index closed lower by 114.80 points or 0.59 percent and closed at 19428.30 levels while the Sensex was down by 365.53 points or 0.56 percent and finished at 65322.65 levels. The Bank Nifty index ended lower by 342.70 points or 0.77 percent on the spot level and closed at 44199.10 levels.

The broader markets also closed lower in line with their larger peers today, as the Nifty midcap index was down by 171.45 points or 0.45 percent and closed at 37836 levels. The Nifty smallcap index ended lower by 21.60 points or 0.18 percent at 11748.35 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were HCL Tech, Power Grid, Titan, Reliance, and Ultratech Cement, and the top losers were IndusInd Bank, NTPC, Divis Lab, SBI Life, and UPL

The top gainers in the Nifty midcap index were Fluorochem, REC Ltd, and BHEL  and the top losers were Apollo Tyere, Alkem, and Torrent Power

The smallcap top gainers were IOB, Kalyan Jewellers, and GMM Pfaudler while the top losers were Birla Corp, Tanla Platform, and Canfin Home

The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and Adani Enterprise. The most active stocks in terms of volume were Tata Steel, SBI, and Power Grid.

On the sectoral front, barring Nifty PSU Bank all other sectoral indices closed in the red with Media, Pharma, and Financial services falling the most.

 

Global Stock Market Today

 

Asian stock markets closed mostly lower on Friday. Japan’s Nikkei was not trading today due to a holiday. South Korea’s Kospi extended early losses while Hang Seng fell in the last hour and also extended its early losses on Friday. The Shanghai index fell sharply lower in the region and ended in the deep red.

European stock market indexes are trading lower on Friday, as the sentiment was hit after Fed officials made hawkish remarks overnight and following the losses from Asian markets.

 

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Happy Investing!!

Editorial desk