Share Market Today, April 28, 2023: The Nifty(18,065.00) index finally reclaimed the 18,000 mark after more than two months, thanks to a late surge in the Bank Nifty. Investors have been waiting for an uptrend in the market for the last several months. Due to global uncertainty and high-interest rates Indian market traded in a range for the last few months. But strong Q4 performances by major benchmark constituents helped boost the Indian equity market.
Today, the rally was driven by the PSU BANK, INFRA, IT, AUTO, and FMCG sectors on NSE. As expected, the broader market also participated in the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 gaining 1.24% and 0.83%, respectively.
Closing Stock Market Indexes Today
| Index | Index Value | Change | Percentage Change | Open | High | Low |
| Nifty 50 | 18,065.00 | 149.95 | 0.84% | 17,950.40 | 18,089.15 | 17,885.30 |
| Nifty Bank | 43,233.90 | 233.05 | 0.54% | 43,045.50 | 43,302.05 | 42,810.35 |
Today, Nifty 50 had a strong performance, gaining 149.95 points or 0.84%, closing at 18065, with a high of 18089.15 and a low of 17885.30. Nifty Bank also ended positively, closing at 43233.90, up by 233.05 points or 0.54%, with a high of 43302.05 and a low of 42810.35.
The US stock market’s strong rally was a major factor that boosted the Indian equity market’s confidence today. VIX, which fell below 11, was another positive factor that influenced investors to buy across all sectors. Heavy buying activity was seen in the broader market’s beaten-down stocks today. Although Bank Nifty showed some volatility and weakness in the first half. But Nifty 50 steadily and firmly rallied throughout the day.
A sudden spurt in Nifty Bank in the second half helped both indices reach new highs for the week. Overall, the Indian stock market started the new F&O series of May on a very positive note.
Nifty 50 Top Gainers and Losers Today
| Company Name | Stock Price | Price Change | Percentage Change |
|---|---|---|---|
| Adani Enterprises Ltd | 1,924.95 | 71.90 | 3.88% |
| Adani Ports & Special Economic Zone Ltd | 681.3 | 21.55 | 3.27% |
| Britannia Industries Ltd | 4,553.55 | 137.70 | 3.12% |
| Nestle India Ltd | 21,761.4 | 614.10 | 2.90% |
| Wipro Ltd | 385 | 10.60 | 2.83% |
| Larsen & Toubro Ltd | 2,364.4 | 58.80 | 2.55% |
| State Bank of India | 578.3 | 13.55 | 2.40% |
| ITC Ltd | 425.55 | 9.55 | 2.30% |
| HDFC Life Insurance Company Ltd | 529.75 | 11.90 | 2.30% |
| Apollo Hospitals Enterprise Ltd | 4,513.7 | 96.20 | 2.18% |
| Company Name | Stock Price | Price Change | Percentage Change |
|---|---|---|---|
| Axis Bank Ltd | 860.00 | -21.40 | -2.43% |
| JSW Steel Ltd | 725.30 | -6.80 | -0.93% |
| Titan Company Ltd | 2,641.85 | -21.60 | -0.81% |
| Oil & Natural Gas Corpn Ltd | 158.95 | -1.10 | -0.69% |
| HCL Technologies Ltd | 1,064.10 | -7.15 | -0.67% |
| Cipla Ltd | 908.05 | -5.90 | -0.65% |
| Hindustan Unilever Ltd | 2,457.30 | -11.65 | -0.47% |
| Bajaj Finserv Ltd | 1,354.65 | -5.35 | -0.39% |
| ICICI Bank Ltd | 917.65 | -0.70 | -0.08% |
Global Market Update
Asian Stock Market Today
| Market | Closing Price | Change | % Change |
|---|---|---|---|
| Hang Seng Index | 19,894.57 | +54.29 | +0.27% |
| KOSPI | 2,501.53 | +5.72 | +0.23% |
| Nikkei 225 | 28,856.44 | +398.76 | +1.40% |
| Taiwan Capitalization Weighted Stock | 15,579.18 | +167.69 | +1.09% |
| SSE Composite Index | 3,323.27 | +37.39 | +1.14% |
Today, all Asian stock markets closed with gains, following the rally in the US stock market. The Nikkei 225 index was the top performer, rising by 1.4% or 398.76 points. Meanwhile, the Bank of Japan (BOJ) kept its ultra-low interest rates unchanged but announced a review of its monetary policy. This decision sets the stage for Governor Kazuo Ueda to potentially phase out the large stimulus program implemented by his predecessor. The BOJ’s policy for short-term interest rates and 10-year bond yields also remained unchanged.
The DAX and FTSE 100 markets in Europe gained 0.48% and 0.28%, respectively, while the CAC 40 was the only loser, down by 0.25%. The U.S. stock market is also trading higher today following yesterday’s rally led by META Inc. As of 7:40 PM IST, the Dow Jones, S&P 500, and Nasdaq are up by 0.48%, 0.34%, and 0.18%, respectively.
Conclusion
Today’s closing of the Indian equity market marked the beginning of the May F&O series. As said in the stock market “Sell in May and go away” will also strike the minds of investors. But there is a high probability that the Indian share market will continue its outperformance in this series also. This is the hope and wish of millions of investors in the Indian equity market for the month of May.
