Stock Market Today 24 Aug 2022: Nifty end higher amid volatility
Stock Market Today 24 Aug 2022: The Indian stock markets opened lower on Wednesday amid negative cues from the global markets. Nifty today opened at 17525.45 levels, down by 52.05 points while Sensex made a negative opening of 177.98 points at 58853.32 levels. The benchmark indices turned positive soon after the gap-down start and traded volatile today.
Stock Market News and Updates Today
The market participants took support, as ICRA in its latest report projected India’s Gross Domestic Product (GDP) growth at 13% for Q1FY23 a sharp jump from the 4.1% in the same period last year. This is mainly due to the low base rate and speedy recovery in the contact-intensive sectors.
However, the market upside was capped as the Securities and Exchange Board of India (SEBI) in its latest data showed that investment through participatory notes (P-notes) in the domestic capital market declined to Rs 75725 crore at the end of July, the lowest level in gnarly two years. mainly in the wake of aggressive rate hikes by the US Fed. This also markets as the third straight monthly decline in investment numbers.
On the global front, the other Asian markets mostly closed in the red on Wednesday as higher inflation anxieties crept in ahead of an eagerly awaited US Fed’s annual symposium and Chairman Powell’s speed due on Friday European markets are trading slightly lower as investors are cautious ahead of Jackson Hole Symposium.
Nifty 50 and Sensex at the close today
The Nifty 50 index was up by 27.45 points or 0.16 percent and closed at 17604.95 levels while the Sensex gained by 54.13 points or 0.09 percent and finished at 59085.43 levels. The Bank Nifty index ended higher today by 340.85 points or 0.88 percent on the spot level and ended at 39038.50
The broader markets outperformed the benchmarks, as the Nifty midcap index was up by 226.25 points or 0.74 percent and closed at 30960.90 levels. The Nifty smallcap index closed higher today by 77.05 points or 0.82 percent at 9487.15 levels.
Nifty top gainers and losers today
The top gainers in the Nifty 50 index were Apollo Hospital, IndusInd bank, ONGC, NTPC, and ICICI Bank whereas the top losers were BPCL, Divis Labs, Tata Steel, TCS, and Sun Pharma
The midcap top gainers were RBL Bank, Varun Beverages, and IDFC First and the top losers were Gujarat Gas, Mphasis, and Laurus Labs
The top gainers in the Nifty smallcap index were Can Fin Homes, Radico Khaitan, and BASF and the top losers were HEG, Future Retails, and BEML
The most active stocks in the Nifty index in terms of value were Reliance, Bharti Airtel, and HDFC Bank The most active stocks in terms of volume were Tata Steel, ONGC, and NTPC
On the sectoral front, the Realty, Media, Private Bank, Banking, Metals, and Financial Services closed higher. The sectors that closed in the red were IT, Pharma, Auto, and Consumer Durables.
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