Closing bell: Benchmark Indices register marginal declines with Nifty Auto among the top gainers - October 13, 2023

Domestic equity bourses closed with marginal declines on Friday.

In the latest market summary, Indian markets closed with minor setbacks on Friday, October 13, 2023.

The Sensex concluded the day with a modest 0.19% decrease, slipping beneath the 66,300 threshold, while the Nifty recorded a 0.22% drop, closing under 19,800. In a similar fashion, Nifty Midcap saw a 0.12% decline, and Nifty Smallcap reported a moderate 0.44% reduction.

When examining sector performance, numerous segments exhibited remarkable gains. Nifty Auto led the upward movement, trailed by Nifty Realty, Nifty FMCG, and Nifty Pharma as the top performers. Conversely, Nifty IT, Nifty Metal, Nifty Media, and Nifty PSU Banks encountered challenges during the trading session.

Within the Nifty 50 index, significant gains were noted in stocks such as Tata Motors, which surged over 4%, followed by IndusInd Bank, HCL Technologies, and Tata Consumer Product. On the other hand, Axis Bank, Infosys, Adani Enterprises, and SBI experienced declines, marking them as the leading decliners in the index.

Furthermore, stocks in the broader market also exhibited positive movements. Impressive gains were recorded in HDFC AMC, FACT, Rites, and Metropolis Healthcare, while Bandhan Bank, Mphasis, AAVAS, and Cyient faced losses.
Oil prices rebounded on Thursday, recovering from earlier declines.

This increase was fuelled by the belief that U.S. interest rates had reached their peak. However, gains were limited due to a reduced demand growth projection for the coming year by the International Energy Agency and the presence of elevated U.S. inventories.

Brent futures climbed by 57 cents, equivalent to a 0.66% rise, reaching USD 86.32 per barrel. Concurrently, the Dollar index exhibited a slight 0.06% dip in futures, settling at 106.49, while the exchange rate for one dollar hovered around Rs 83.29.

Overall, the market sentiment appeared bearish, with 924 stocks advancing compared to 1082 stocks declining, indicating a prevailing slight negative market sentiment.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.