Sensex today: Indian stocks gained on Thursday amid a selloff in index heavyweight RIL and bank counters, as investors watched a policy decision from the central bank on Friday. The S&P BSE Sensex hovered 1,136 points during the day before settling for 58,299, down 52 points or 0.09 percent. The NSE Nifty50, on the other hand, closed at 17,382, down 6 points or 0.04 percent, after a high of 17,491 and a low of 17,161 during the day.
Defensive sectors outperformed today, with the indices Nifty Pharma (2.37 percent), Nifty IT (1.2 percent) and Nifty FMCG (0.5 percent) posting the most gains. PSU banks were hardest hit today with the Nifty PSB index falling 1.75 percent.
Of the individual stocks, Cipla, Nestle India, Sun Pharma, Infosys, Apollo Hospitals, Hindalco, Divis Labs, Dr. Reddy’s Labs and JSW Steel between 1 percent and 3.2 percent. On the other hand, NTPC, Tata Consumer Products, Coal India, RIL, SBI, Shree Cement, Power Grid, Kotak Bank and Axis Ball fell between 1 and 3 percent.
In the broader markets, the BSE MidCap and SmallCap indices rose 0.3 percent and 0.2 percent, respectively.
According to data from Refinitiv, foreign investors bought $1.07 billion worth of Indian stocks in the first three trading sessions this month.
Market participants await the outcome of the Reserve Bank of India (RBI) monetary policy meeting on Friday. The RBI has raised rates twice since May and is expected to raise rates again to curb persistently high inflation in Asia’s third-largest economy.
However, views on the magnitude of the increase were broadly split between 25 basis points and 50 basis points, a Reuters poll of economists found.
Among the individual shares, Adani Power shares hit a 52-week high at Rs 352 per share after the company reported a 16-fold jump in consolidated net profit to Rs 4,780 crore in Q1FY23.
By the way, Adani Total Gas shares hit a 52-week high at Rs 3,335.05 per share ahead of their Q1FY23 results.
dr. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said: “In the US parent market, markets are climbing many walls of concern, including the clashes between the US and China over Nancy Pelosi’s visit to Taiwan. Other markets are following signs of the strong trend in the US market. In India, the FPIs switching buyers have shifted sentiment in favor of the bulls. Market momentum is so strong that it dominates negatives such as higher valuations and a widening trade deficit. If FPI buying persists, the market may remain resilient, but investors should exercise caution. It makes sense to stick with high quality growth stocks. The strength of Nasdaq indicates IT will continue the current uptrend.”
Gold price today
The price of gold was stable on Thursday, supported by a slump in US Treasury yields and as cautious investors awaited an important report on the US nonfarm payrolls due this week that could provide more clues about the Federal Reserve’s rate hike rate. Reserve.
Spot gold held up at $1,767.39 an ounce, as of 0239 GMT. US gold futures rose 0.4 percent to $1,783.90.
Global clues
Asian stocks rose Thursday, following a strong rally on Wall Street as robust economic data and optimistic corporate guidance fueled investor appetites.
Tokyo stocks opened higher on Thursday after gains on Wall Street, with investors eyeing corporate earnings. The benchmark Nikkei 225 index climbed 0.69 percent or 191.39 points to 27,933.29 at opening, while the broader Topix index rose 0.34 percent or 6.50 points to 1,937.27.
US equities moved to a sharp higher close and government bond yields hit a two-week high on Wednesday as robust economic data, optimistic corporate guidelines and easing geopolitical concerns fueled investor risk appetite.
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