Sensex and Nifty Today(Stock Market Update for June 23, 2023): The Indian stock market witnessed a volatile and bearish trading session on June 23, 2023. Weak global cues and concerns over rising interest rates contributed to the market’s decline. However, positive statements regarding India-US trade relations provided some support.
Stock Market Index Today:
The Nifty 50 index ended the day at 18,665.50, dropping by 105.75 points or 0.56 percent. Similarly, the Sensex closed at 62,979.37, losing 259.52 points or 0.41 percent. Both indices finished near their lowest points, indicating a generally bearish sentiment in the market.
Apart from the Nifty Pharma index, which had a small gain of 0.15 percent, and the Nifty Healthcare index, which remained unchanged, all other sectoral indices ended the day with losses.
The Nifty Metal index had a notable drop of 2.48 percent, and the Nifty Media index also experienced significant losses, declining by 2.13 percent.
Other sectors that saw significant declines were Nifty Consumer Durables (down 1.68%), Oil & Gas (down 1.51%), PSU Bank (down 1.18%), and Auto (down 1.03%). All of them finished more than one percent lower.
Bank Nifty Index:
The Bank Nifty index ended the day at 43,622.90 levels, declining by 101.95 points, or 0.23 percent, on the spot level. Although the losses were relatively capped, the banking sector faced selling pressure.
Nifty Midcap Index:
The Nifty midcap index closed at 34,799.90 levels, declining by 1.24 percent. Among the top gainers in the Nifty Midcap Index were Auro Pharma, AB Capital, and Trent. The top losers included Adani Power, PEL, and LTTS.
Nifty Smallcap Index:
The Nifty small-cap index closed at 10,624.10 levels, declining by 1.17 percent. Among the top gainers in the Nifty Midcap Index were CREDITACC, KALYAN JEWELLERS, and ANGELONE. The top losers included BDL, BCG, and JUBLINGREA.
Top Gainers and Losers in Nifty 50:
The top gainers in the Nifty 50 index were IndusInd Bank(2.88%), Dr. Reddy’s(1.91%), Asian Paints(1.51%), Bharti Airtel(1.01%), and NTPC(0.92%). On the other hand, the top losers included Adani Enterprise(7.02%), Adani Ports(4.44%), BPCL(3.45%), Hindalco(2.93%), and Divis Lab(2.11%).
Active Stocks of The Day:
Adani Enterprise, HDFC Bank, and Adani Ports were the most active stocks in the Nifty index in terms of value, while Tata Steel, Adani Ports, and NTPC were the most active stocks in terms of volume.
Global Stock Market Performance Today:
Asian stock market indexes closed in the red, influenced by disappointing economic data from Japan. The Nikkei and Hang Seng closed significantly lower, while Shanghai and Taiwan were closed for the Dragon Boat Festival holiday.
European stock markets also opened lower, following negative cues from Asian peers and as investors analyzed the latest UK retail sales and consumer confidence data. European markets closed in the negative territory, with Germany’s DAX leading the region, dropping by 0.99 percent. France’s CAC 40 declined by 0.55 percent, and London’s FTSE 100 was down by 0.54 percent.
On Friday, the major US stock indexes experienced a decline, indicating a potential losing week for Wall Street. The Dow Jones Industrial Average dropped 148.93 points or 0.44 percent.
The S&P 500 also decreased by 0.46 percent, while the Nasdaq Composite saw a pullback of 0.62 percent.
The three major U.S. stock indexes are about to end their consecutive weeks of gains. The Dow and S&P 500 have each dropped over 1% since the beginning of the week. The Nasdaq is also down 1%, on track to break an eight-week winning streak and have its worst weekly performance since April.
