December 13, 2023

New Delhi, India

Stock Market Highlights

Indian stock market witnessed high ups and downs today. The global uncertainties in inflation and Federal Reserve policies created such a situation.

Market Movement:

Both Nifty and Sensex showed slight gains today, the Sensex started with small wins and ended up making minor profit amounted to +33.57  points and closed at 69,584.60. In addition, the Nifty rose by by +19.95 points to close at 20,926.35.

Sectoral Performance:

Besides the auto and pharmaceutical sectors, everything else dipped. However, Nifty was led by a 0.96% decline in the IT sector. Conversely, Nifty Media and Pharma added 0.2% apiece.Some of the notable winners in the Sensex were NTPC, Power Grid, M&M, L&T, ITC, and IndusInd Bank. However, the top laggards included Tata Consultancy Services (TCS), Infosys, Bajaj Finserv, Bajaj Finance, Axis Bank, Tech M, Wipro, and Asian Paints.

UltraTech Cement Shares Surge Past ₹10,000 Mark

Broader Market Indices:

At the same time, BSE MidCap and SmallCap indices displayed resistance growing 0.13 percent for the first and 0.11 percent for the second.

Market Dynamics:

The market was in a tentative manner awaiting the outcome of FOMC meeting. The Tuesday’s correction reflected concerns over US inflation data and Federal Reserve policy statement. Some stocks received high recognition owing to corporate actions. Indian Bank did a QIP, Bank of Baroda thought raise money, and E-SFB hired CCO.

Also Read: Indian Rupee Faces Headwinds as Inflation Surges and Eyes Turn to the Fed Decision Tonight

Outlook:

Investors still respond to the dynamic market forces on both domestic and international levels. Key stocks are highlighted, and their respective performances are considered ahead of Wednesday’s session in the market.

Finally, the Indian stock market went through a turbulent day as it reacted to both its indigenous and the external cues. In spite of uncertainties investors are watchful, watching for critical numbers and stock’s movement.

Also Read: India’s Forex Reserves Soar Beyond $600 Billion Mark, Indicating Economic Resilience

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.