Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the easy-accordion-free domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u144920493/domains/currencyveda.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u144920493/domains/currencyveda.com/public_html/wp-includes/functions.php on line 6114
Indian Stock Market Closes: Nifty Above 19,000, Sensex Plus 600 - CurrencyVeda
TOP NEWS

Indian Stock Market Closes: Nifty Above 19,000, Sensex Plus 600

Interim Dividend

October 27, 2023

New Delhi, India

Stock Market Highlights

The Indian stock market staged a remarkable recovery as key indices soared on Friday. The Sensex surged by 634 points, pushing it to new heights. The Nifty, another influential index, closed above the significant 19,000 mark. These positive developments marked a substantial rebound after a period of losses.

Nifty and Sensex closed at 63,782.80 and 19,047.25 respectively

Global Factors at Play

Global economic conditions played a pivotal role in shaping the market sentiment. While the US markets ended on a lower note, Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, were trading in positive territory. This international positivity likely contributed to the recovery of the Indian stock market.

Winners and Losers

Among the major gainers in the Indian market were companies like NTPC, Mahindra & Mahindra, State Bank of India, Infosys, and Maruti. These companies significantly contributed to the overall positive performance.

However, Asian Paints emerged as the only laggard among the pack, with its stock price taking a hit.

Check Q2 Results: Tech Mahindra, Wipro, HDFC Bank, Axis Bank, Colgate

Oil Prices Impact

Global oil benchmark Brent crude recorded a 1.25% jump, reaching USD 89.03 a barrel. This rise can have significant implications for the Indian economy, given its dependence on oil imports.

Oil Prices Rises 2% amid Middle East Tensions

Foreign Investor Activity

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,702.53 crore on Thursday, indicating that foreign investors reduced their holdings in the Indian stock market. Their actions play a vital role in shaping market trends.

Market Indices and Top Performers

Both the BSE Sensex and NSE Nifty 50 ended the trading session on a positive note, with the Nifty 50 gaining 1.01% and the Sensex climbing by the same percentage. Smallcap stocks led the gains, and the Bank Nifty index also saw significant growth.

Notable gainers in the Nifty 50 included Coal India, HCL Tech, Axis Bank, State Bank of India, and Bajaj Auto. On the other hand, UPL, ITC, Hindalco Industries, BPCL, and Asian Paints were among the top laggards.

Reduced Market Volatility

The volatility index (India Vix) ended down by 7.03%, indicating a reduction in market volatility.

In conclusion, the Indian stock market‘s robust rebound reflects a complex interplay of domestic and global factors. While attractive valuations in some sectors are encouraging, the impact of foreign investors and global economic conditions continues to influence market dynamics.

Disclaimer:

CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.

Leave a Reply

Your email address will not be published. Required fields are marked *