Stock Market Today, 13 February 2024: Indian stock market indexes closed higher on Tuesday as indicated by the Gift Nifty. The domestic markets maintained their gains throughout the session as market participants indulged in enlarging their positions. Heavy buying in ICICI Bank, Reliance Industries, and Axis Bank companies` stocks helped the markets to maintain their gains.
Sentiments got a boost as data released by the National Statistical Office (NSO) showed that retail inflation eased to a three-month low of 5.1% in January from 5.69% reported in December, due to a fall in prices of several items in the food basket – mainly onions.
The sentiments were upbeat with the news in Automobile industry-related stocks, as the Federation of Automobile Dealers Associations (FADA) said that Retail sales of automobiles in January 2024 witnessed a 15 percent increase to 2.13 million units, compared to 1.85 million units during the corresponding period in 2023.
Stock Market Today
The Nifty 50 index closed higher by 127.20 points or 0.59 percent and closed at 21743.25 levels while the Sensex was up by 482.70 points or 0.68 percent and finished at 71555.19 levels. The Bank Nifty index ended higher by 620.15 points or 1.38 percent on the spot level and closed at 45502.40 levels.
The broader markets pared early losses and closed in the green today, as the Nifty midcap index was up by 159.85 points or 0.34 percent and closed at 47835.65 levels. The Nifty smallcap index ended higher by 26.70 points or 0.17 percent at 15643.75 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were UPL, Coal India, ICICI Bank, Axis Bank, and SBI Life, and the top losers were Hindalco, Grasim, Ultratech Cement, Divis Lab, and BPCL.
The top gainers in the Nifty midcap index were IRFC, RVNL, and NHPC and the top losers were PayTM, KPIT Tech, and SAIL.
The smallcap top gainers were NCL India, Aegies Chemical, and Regington while the top losers were Elgi Equipements, NBCC, and KRBL.
The most active stocks in the Nifty index in terms of value were HDFC Bank, Hindalco, and ICICI Bank. The most active stocks in terms of volume were Hindalco, Tata Steel, and Coal India.
On the sectoral front, barring Metal all sectoral indices closed in the green, Nifty Financial Services, Banks, and Energy gained the most
Global Stock Market Today
The other Asian stock market indexes mostly closed higher on Tuesday. Japan’s Nikkei 225 gained 2.81% as the country’s corporate goods price index rose more than expected, the index hit the first time 38000- mark on intraday and closed at 37963.97. Australia’s S&P ASX 200 index closed marginally lower by 0.15% for the third consecutive day.
The other indexes Kospi, Straits Times, and SET Composite closed higher on Tuesday, as traders were back on the trading floor after the Lunar New Year holiday, while Jakarta Composite is trading lower today.
European stock market indexes are trading lower on Tuesday, as investors assessed the fresh batch of quarterly earnings and looked ahead to US inflation data later in the day.
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Editorial desk