On Thursday, a mixed trend was seen in the Indian stock market after the day’s ups and downs and the closing auction session. While on one hand BSE’s main index Sensex closed in the red with a slight fall, on the other hand NSE’s Nifty 50 maintained its lead and managed to close firmly above the important level of 23,250.
At the end of trading, the Sensex closed at 74,314.59 with a slight decline of 21.86 points. At the same time, Nifty 50 recorded a gain of 53 points and closed at the level of 23,270.60. India VIX, which measures stock market volatility, closed down by about 7 per cent, indicating less panic in the market.
There was a strong rise of more than 1.5% in these shares
During the trading session, heavy buying was witnessed by investors in many leading stocks, with gains ranging from 1.5% to 5%:
-
- HDFC Life: Was the leader with a huge jump of 5.05%.
-
- TMPV: closed up 4.49%.
-
- SBI Life: Gained a handsome gain of 4.06%.
-
- Dr. Reddy’s Laboratories: closed up by 3.07%.
-
- BHEL: strengthened by 2.51%.
-
- InterGlobe Aviation (IndiGo): gained 2.36%.
-
- Tata Steel: closed in the green with a rise of 2.34%.
-
- Jio Financial Services: gained 1.98%.
-
- Eternal and Shriram Finance: rose 1.69% and 1.63%, respectively.
-
- Asian Paints: closed up by 1.55%.
Apart from this, good buying was also recorded in Maruti (1.41%), Tata Consumer (1.36%) and Cipla (1.35%). On the other hand, there was selling pressure in ONGC (-1.85%), Titan (-1.38%), HDFC Bank (-1.18%), Hindustan Unilever (-1.01%) and Coal India (-1.01%).
Condition of broad market and sectoral index
The performance of the broader market was much better than the major indices. The Nifty Midcap index registered a gain of 0.92% and the Smallcap index registered a gain of 0.71%. The market breadth was completely in favor of buyers, with the number of shares closing with gains at 2,480, while 1,487 shares closed with declines. On the sectoral front, realty and pharma sectors registered a rise of more than 1.5%. The media sector closed 1.35% higher, while the auto and metal indices saw an improvement of about 1% each. However, banking and IT sectors closed in the red.
US Fed decision and reason for pressure on IT stocks
US central bank Federal Reserve The impact of RBI’s decision to increase interest rates by 25 basis points (0.25%) for the first time in more than three years was visible in the market. 16 out of 18 Fed officials have hinted at at least one more rate hike by the end of the year.
Also read- Gold and silver prices skyrocket due to US Fed’s decision, check today’s new prices before buying.