Stock Market Today: Nifty Below 21,500, Sensex Drops 314 Points
Stock Market Today 18 January 2024: Indian stock market indexes ended the volatile session in the red on Thursday, declining for the third consecutive session. The domestic markets opened a gap down and tarded volatile below their neutral lines throughout the day.
The market sentiments were hit with both Sensex and Nifty traded lower, amid signs that global central banks including the Federal Reserve and the European Central Bank will not rush to lower interest rates as previously anticipated. Traders also remain cautious as external affairs minister S Jaishankar said that the Houthi attack on the Red Sea will hit India’s energy and economy. He stressed that the issue should be speedily addressed.
However, investors overlooked the reports that the Ministry of Agriculture & Farmers Welfare, Government of India, is leveraging cutting-edge Artificial Intelligence (AI) technologies, in an effort towards the benefit of farmers and to increase overall productivity.
Indian Stock Market Today
The Nifty 50 index closed lower by 109.70 points or 0.51 percent and closed at 21462.25 levels while the Sensex was down by 313.90 points or 0.44 percent and finished at 71186.86 levels. The Bank Nifty index ended lower by 350.90 points or 0.76 percent on the spot level and closed at 45713.55 levels.
The broader markets closed marginally lower today, as the Nifty midcap index was down by 51.70 points or 0.11 percent and closed at 47099.85 levels. The Nifty smallcap index ended lower by 27.75 points or 0.18 percent at 15320.60 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Sun Pharma, Cipla, TechM, Tata Motors, and Axis Bank, and the top losers were LTIM, HDFC Bank, NTPC, Titan, and Asian Paints.
The top gainers in the Nifty midcap index were Apollo Tyre, Tata Communication, and OIL and the top losers were Mphasis, Ipca Lab, and Max Health.
The smallcap top gainers were Suzlon, Ceat, and MRPL while the top losers were IEX, RBL Bank, and Happiest Minds.
The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and LTIM. The most active stocks in terms of volume were HDFC Bank, Tata Steel, and NTPC.
On the sectoral front, Pharma, PSU Bank, and Realty closed higher while the sectors that closed in the red were Financial Services, Metal, and Energy.
Global Stock Market Today
The other Asian stock markets closed mixed on Thursday. Hang Seng and Shanghai indexes erased early losses and closed higher by 0.88% and 0.43% respectively. Australia’s S&P ASX 200 index closed lower by 0.63% as the unemployment rate remains steady in December.
South Korea’s Kospi index closed slightly higher by 0.17%, while Nikkei closed flat to the negative. Elsewhere Straits Times and SET Composite closed lower while Taiwan and Jakarta ended in the green territory.
European stock markets are trading mixed near their flatline on Thursday, as investors remain cautious after several European central bank officials at Davos made hawkish comments about early interest rate cuts. Investors are closely monitoring the news and comments from the World Economic Forum in Davos.
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Editorial desk