Closing bell: Indian indices edge lower with mixed sectoral performance - October 12, 2023

In the latest update, Indian markets closed with marginal declines on Thursday.

Today, Indian markets closed with marginal declines on Thursday. The Sensex concluded the day with a slight dip of 0.1%, falling below the 66,500 level, while the Nifty declined by 0.09%, closing below the 19,800 level. In contrast, Nifty Midcap closed higher by 0.17%, and Nifty Smallcap posted a moderate gain of 0.65%.

When analysing sector performance, several segments exhibited notable surges. Nifty Media led the gains with an impressive 3% increase, followed by Nifty Auto, Nifty Metal, and Nifty Energy as top gainers. However, Nifty IT, Nifty Realty, and Nifty PSU Banks faced challenges during the trading session.

Within the Nifty 50 index, substantial gains were observed in stocks such as BPCL, Coal India, Maruti, and NTPC. Conversely, Tech Mahindra, Apollo Hospitals, Infosys, and TCS experienced declines, marking them as the top decliners in the index.

Moreover, stocks in the broader market also demonstrated positive movements. Notable gains were recorded in NMDC, IGL, CAMS, and CDSL, while Bharat Dynamics Ltd, Delhivery, Laxmi Organic Industries, and Finolex Cables faced losses.

Mutual fund Update

In September, Systematic Investment Plans (SIPs) witnessed a new peak in investments, totalling Rs 16,402 crore, surpassing the previous record of Rs 15,814 crore recorded the prior month, as per data from the Association of Mutual Funds in India (AMFI). Exchange Traded Funds (ETFs) displayed a remarkable increase, with inflows surging from Rs 1,863 crore in the previous month to Rs 3,243 crore. Contributions to dividend and Equity-Linked Savings Schemes (ELSS) funds also showed substantial growth, reaching Rs 255 crore and Rs 141 crore, respectively. However, corporate bond funds experienced outflows of Rs 2,460 crore and Rs 111 crore.

Overall, the market sentiment appeared optimistic, with around 1,185 stocks advancing compared to 835 stocks declining, indicating a prevailing positive market sentiment, even amid global uncertainties.

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.