Stock Market Today: Nifty Above 19,600, Sensex Up 320 Pts, Pharma Takes the Lead

 

Stock Market Today Sept 29, 2023: Indian stock markets ended with significant gains on Friday after the previous session’s sell-off. The domestic markets started the final trading session of the month on a positive note and gradually extended the profits as the session progressed. In the end, markets trimmed some gains and closed higher.

The positive global cues due to ease in US Treasury yields and crude oil prices lifted the stock market sentiments. Markets got some support from the RBI’s report that showed that India’s foreign exchange reserves in nominal terms (which includes valuation effects) rose by $16.6 billion during April-June 2023, mainly driven by strong Foreign Institutional Investment (FII) flows. However, the upside remained capped due to selling pressure in IT stocks 

 

Stock Market Indexes Today

 

The Nifty 50 index closed higher by 114.75 points or 0.59 percent and closed at 19638.30 levels while the Sensex was up by 320.09 points or 0.49 percent and finished at 65828.41 levels. The Bank Nifty index ended higher by 283.60 points or 0.64 percent on the spot level and closed at 44584.55 levels.

The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 433 points or 1.08 percent and closed at 40537.05 levels. The Nifty smallcap index ended higher by 124.75 points or 0.99 percent at 12748.50 levels.

 

Nifty 50 Top Gainers & Losers 

 

The top gainers in the Nifty 50 index were Hindalco, NTPC, Hero Motors, Dr, Dreddy, and Divis Labs and the top losers were Adani Enterprise, LTIM, HCL Tech, TechM, and Power Grid.

The top gainers in the Nifty midcap index were SunTv, L&TFin, and JSW Energy and the top losers were Navin Fluorine, Tube Invest, and Delhivery.

The smallcap top gainers were Glenmark, HUDCO, and NLC India while the top losers were Easy My Trip, MCX, and Trevini.

The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and ICICI Bank. The most active stocks in terms of volume were NTPC, Tata Steel, and HDFC Bank.

On the sectoral front, barring IT, all other sectors ended higher with Pharma, Media, and Metal gaining the most

 

Global Stock Market Today

 

The other Asian stock market indexes mostly closed higher on Friday following the gains from Wall Street overnight. South Korea’s Kospi and Taiwan were not traded today due to a public holiday. The Shanghai Index is also closed for the weeklong holiday and will resume after 8 October.

Japan’s Nikkei ended flat to the negative, as Tokyo inflation eased and Tokyo Core inflation came better than expected. Other data showed Industrial production was flat, while retail sales came better than anticipated in August. Hang Seng gained the most in the region, up by 2.51 percent, while Australia’s S&P/ASX 200 also extended its early gain and ended higher.

European stock markets are trading higher as the UK’s GDP rose by 0.3% between January and March, up from the 0.1% growth earlier estimated. This means that GDP is now estimated to be 1.8% above pre-pandemic 2019 levels. Investors are now looking for Eurozone inflation data later in the day after ease of Germany’s inflation reading on Thursday.

 

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You may also like to read,  Trade Setup for Friday, Sept 29, 2023: Stock Market Today

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Happy Investing!!

Editorial desk