Volatile Day Today: Sensex Gains, Nifty Closes Below 20,000

Nifty index heads for correction

New Delhi, India

September 12, 2023

The Indian equity markets showcased their resilience in today’s trading session. The benchmark equity indices, Nifty and Sensex, opened on a positive note today, but closed with mixed results.

Market Opening: The NSE Nifty 50 kicked off the day on a positive note, opening 0.56% higher at 20,110.15. Simultaneously, the BSE Sensex commenced the session at 67,506.88, recording a gain of 379.80 points. The Bank Nifty joined the upward trajectory, opening 0.70% higher than its previous close.

Sectoral Performance: Most sectors initially began in the green, with notable exceptions. The Information Technology sector outperformed others, registering a 1 percent increase. Conversely, sectors such as auto, capital goods, power, oil & gas, metal, and realty faced declines ranging from 1-3 percent each.

Closing Figures: As the trading day concluded, the Sensex closed at 67,221.13, reflecting a modest gain of 94.05 points, equivalent to a 0.14% increase. In contrast, the Nifty closed at 19,993.20, marking a minor drop of 3.15 points or 0.02%.

Top Gainers and Losers: TCS emerged as the day’s top gainer, with its share price surging by 2.88%. It was closely followed by L&T, Infosys, Divis Labs, and UltraTech Cement. However, BPCL bore the brunt of the day’s fluctuations, experiencing a significant drop of 4.22% in its share price.

Sectoral Performance (Closing): With the exception of the Information Technology sector, all other sectoral indices ended the day in the red. Notable sectors such as auto, capital goods, power, oil & gas, metal, and realty sustained losses ranging from 1-3 percent each.

Midcap and Smallcap Indices: The BSE midcap index witnessed a decline of 3 percent, underscoring the broader market’s weakness. Simultaneously, the Smallcap index faced an even more substantial decline of 4 percent.