Closing bell: Frontline indices close on a mixed note, Nifty Bank surges over 1.5%!
On Wednesday the Frontline indices concluded the trading day on a mixed note while Broader indices underperformed, with Nifty Bank making new highs.
Major Indices Performance:
On Wednesday the Frontline indices concluded the trading day on a mixed note while Broader indices underperformed, with Nifty Bank making new highs. The Sensex closed higher by 0.05% and closed at 77,337.60 level, while the Nifty declined by 0.18% and closed at 23,516 level. Furthermore Nifty Bank soared, registering significant gains of 1.9% and made a record high at 51,957 level.
Additionally, the broader market showed underperformance as Nifty Midcap significantly declined by 0.97% and closed at 54,951.70 level, while Nifty Smallcap also plunged by 0.46% closed at 18,155.50 level. Moreover, India VIX surged by 5.77% and was trading near the mark of 13.
Sectoral Performance:
Within the sectoral landscape Nifty Bank, Nifty Financial Services, Nifty IT and Nifty PSU Bank were among the top gainers, while Nifty Realty, Nifty Energy, Nifty Auto and Nifty Media were among the top losers.
Top Gainers and Losers:
Among the Nifty 50, HDFC Bank stood out as the leading gainer with a significant surge of over 3%, followed by Axis Bank, ICICI Bank and Kotak Bank. Conversely Titan, L&T, Maruti and BHarti Airtel were among the top losers.
Broader Markets:
In the broader markets, which include the Nifty Midcap and Nifty Smallcap, Fertilizers & Chemicals Travancore, Deepak Nitrite, Alok Industries and Shree Renuka Sugar Mills registered substantial gains, standing among the top gainers. On the flip side, Mazagon Dock Shipbuilders, Zee Entertainment, KEC International and Data Patterns (India) have witnessed major declines, ranking among the top losers.
Oil Prices:
Oil prices edged up slightly in early trading on Wednesday, as worries about escalating conflicts in Europe and the Middle East countered concerns over demand after an unexpected increase in U.S. crude inventories.
Brent crude futures for August delivery increased by 6 cents to $85.39 per barrel. U.S. West Texas Intermediate crude for June rose 10 cents to $81.67 per barrel.
NSE Advance/Decline Ratio:
The broader market sentiment presents a nuanced trend, with 868 advancing stocks compared to 1432 declining stocks, signalling a positive sentiment in the broader market.
Disclaimer: This blog 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.