Curated By: Business Desk
Last Updated: October 11, 2023, 20:29 IST
The Indian stock markets closed on a positive note on Wednesday despite the uncertainties over the Israel-Palestine war. The key benchmark indices closed in green for the second straight day on Wednesday with Nifty50 closing above 19800 and Sensex gaining 394 points.
Today, at close, the Sensex was up 393.69 points or 0.60 percent at 66,473.05, and the Nifty was up 121.50 points or 0.62 percent at 19,811.30.
Similarly, all the sectoral indices ended in green on October 10, but the biggest rise was seen in domestic equity benchmarks of Sensex and Nifty. At close, the Sensex witnessed a surge of 566.97 points, at 66,079.36; and the Nifty ended 177.50 points higher at 19,689.80. The Nifty Realty Index rose by 4 percent. The majority of the Nifty50 stocks, that is 44 out of 50 included in this index, witnessed a surge throughout October 10.
The top gainers among Nifty50 companies were Reliance, HDFC Bank, Grasim, ITC and HUL while the top losers were TCS, HCL Tech, SBI, Adani Enterprises and Adani Ports.
The stocks which showed a bullish trend on October 10 included companies like Coal India, Adani Ports, Bharti Airtel, Kotak Bank, and Hindalco. At the same time, stocks of only 5 companies showed a bearish trend like the IndusInd Bank, Cipla, TCS, Dr Reddy’s Lab, and Titan.
Shares of Prestige Group, Sobha, Godrej Properties, and DLF (Delhi Land and Finance) were among the significant gainers on sectoral index Nifty Realty. Market experts have taken a positive view on the ongoing rise in realty stocks. According to a Moneycontrol report, experts believe that sales will be higher, especially during the festive season. At the same time, good buying was recorded in the shares of public sector banks. Central Bank stock closed with a gain of 5 percent. An upward trend in buying was also seen in shares of Union Bank of India, Indian Overseas Bank, UCO Bank, Punjab National Bank, and Bank of Baroda.
The market across the globe has not reacted too much after the recent war between Israel and Palestine. One of the reasons for this is that it is not happening for the first time and they have been in conflict for years. There have been dozens of wars, some small, while others have been on a larger scale.