Leaders Online Desk: Sensex and Nifty indices in the Indian stock market closed higher on Wednesday (22nd) on the strength of heavyweight shares like Reliance, Infosys. Sensex rose 267 points to close at 74,221. While the Nifty settled at 22,597 with an increase of 68 points. (Stock Market Closing Bell)
What happened in the market today?
- Sensex-Nifty close higher after weak start
- Cipla was the highest gainer on the Nifty 50
- Realty and FMCG rose 1 percent each
- BSE Midcap Index flat
- The smallcap index rose 0.2 percent
What is the status of regional indices?
In the sectoral indices, realty and FMCG gained 1 percent each and capital goods, IT and media gained 0.5 percent each. Banks and metals indices each fell 0.3 percent. The BSE Midcap index closed flat and the Smallcap index rose around 0.2 percent.
Limited bullishness in the market
The initial boom in the market was limited. Because investors have taken a cautious stance ahead of the release of the minutes of the US Federal Open Market Committee (FOMC) meeting. The Sensex and Nifty 50 indices were marginally higher in afternoon trade.
What are the top gainers, top losers stocks?
Hindustan Unilever, Reliance, Infosys, Asian Paints, ITC, Ultratech Cement were the top gainers on the Sensex. Sun Pharma, SBI, ICICI Bank, JSW Steel, Axis Bank, Tata Steel shares fell.
Fall in financial shares
Nifty 50 gained throughout the session led by energy and FMCG shares. Meanwhile, financial shares saw a decline. On the Nifty 50 index, Cipla, Hindustan Unilever, Tata Consumer, Dr. Reddy's, Coal India remained the top gainers. ICICI Bank, Hindalco, Sun Pharma, Axis Bank, Shriram Finance were the top losers.
Cipla shares soar
Shares of Cipla remained the top gainer on Nifty 50. Because Cipla Company has received final approval from the US Food and Drug Administration (USFDA) for the use of lanreotide injection. Against this backdrop, Cipla shares rose by around 3 percent.
Why Foreign Investors Are Selling Indian Shares0
Foreign investors have been selling in the Indian stock market for the past few days. Foreign institutional investors (FIIs) have sold around Rs 37,700 crore worth of Indian stocks since voting for the Lok Sabha elections began on April 19, The Economic Times reported. They have traded an average of Rs 1,800 crore per day in the last 21 trading sessions. Ambiguity has increased as the date of Lok Sabha election results draws closer. This has also sent market fear gauge India VIX up nearly 67 percent to a fresh 52-week high.
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