Stock Market Today: Sensex & Nifty Soar, Mid and Smallcaps Outshine the Rest
Stock Market Today Sept 27, 2023: Indian stock markets ended the volatile session on a positive note on Wednesday. The domestic markets opened lower tracking a heavy selloff on Wall Street overnight and mixed cues from Asian counterparts. The indices recovered in the second half and gradually moved northward.
Persistent foreign fund outflows dented the Indian market sentiments. The provisional data from the National Stock Exchange (NSE) showed that foreign institutional investors (FII) offloaded shares worth Rs 693.47 crore on September 26.
According to a private report, FIIs have sold about $1.6 billion in Indian equities in September, the most since January 2023. The report added this trend was driven by elevated valuations in the domestic market and negative global cues.
However, buying interest in Pharma stocks capped the markets on the downside. Meanwhile, the central government has decided to stick to its market borrowing plan of Rs 6.55 trillion in the second half (October-March) of the financial year 2023-24 (H2FY24).
Stock Market Indexes Today
The Nifty 50 index closed higher by 51.75 points or 0.26 percent and closed at 19716.45 levels while the Sensex was up by 173.22 points or 0.26 percent and finished at 66118.69 levels. The Bank Nifty index ended marginally lower by 35.90 points or 0.08 percent on the spot level and closed at 44588.30 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 301.95 points or 0.75 percent and closed at 40640.80 levels. The Nifty smallcap index ended higher by 123.35 points or 0.98 percent at 12675.50 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were L&T, Coal India, ITC, Cipla, and LTIM, and the top losers were Titan, Grasim, Hero Motors, SBI, and BPCL
The top gainers in the Nifty midcap index were PFC, REC Ltd, and Polycab and the top losers were Guj Gas Ltd, Tube Invest India, and Trent.
The smallcap top gainers were Borosil, HFCL, and Mannapuram while the top losers were IRB, CESC, and STL Tech
The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Reliance. The most active stocks in terms of volume were Tata Steel, HDFC Bank, and ICICI Bank.
On the sectoral front, Pharma, PSU Bank, and FMCG closed higher while the sectors that closed in the red were Financial Services and Bank.
Global Stock Market Today
On the global front, Asian markets recovered their early losses on Wednesday and ended higher. Japan’s Nikkei closed slightly higher by 0.18 percent while China’s Shanghai index also ended higher by 0.16 percent, as Industrial profits improved in August compared to July.
Hang Seng gained 0.62 percent, while Australia’s S&P ASX 200 closed lower by 0.15 percent as inflation rose in August compared to July. Elsewhere, Kospi, Taiwan, and SET Composite ended higher while Straits Times closed in the red.
European stock market indexes are trading marginally higher on Wednesday, following the positive cues from the Asian markets. On the economic front, the German GfK consumer climate index fell to -26.5 in October, from a revised lower -25.6 in September.
If you like the post “Stock Market Today: Sensex & Nifty Soar, Mid and Smallcaps Outshine the Rest” please share it with others.
You may also like to read, Nifty and Sensex Plunge: Metal, Bank, Financial Services Drag
Stock Market Prediction Next Week (25- 29 Sept 2023)
Happy Investing!!
Editorial desk
