Stock Market Watch: Sensex gains 85 points, Nifty settles above 18750 ahead of Fed outcome.

Stock Market Watch: Sensex gains 85 points, Nifty settles above 18750 ahead of Fed outcome.

Ira Singh
14 June’23

The Indian equity market concluded Wednesday’s session in green driven by encouraging WPI inflation data and speculation about a potential pause in the Fed rate hike.

At close,the Sensex was up 85.35 points or 0.14 percent at 63,228.51, and the Nifty was up 39.70 points or 0.21 percent at 18,755.90, according to sources.

Stocks and Sectors

Tata Steel, Grasim Industries, JSW Steel and Power Grid Corporation were top gainers on Nifty, while losers included IndusInd Bank, Bajaj Finance, Axis Bank, Hero MotoCorp and Bharti Airtel.

On the sectoral front, except for bank and information technology, all indices ended in green, with metal, FMCG, oil & gas and power indices up 0.5-1 percent, according to sources.

The BSE midcap index added 0.2 percent and smallcap index gained 0.4 percent.

On 14th June’23,the Indian rupee gained 15 paise to close at 82.10 against US dollar on, amid robust macro fundamentals, FII inflows and a weak greenback against major rivals overseas.

Experts Take:
Market experts have recommended 6 buy or sell stocks for Wednesday- Reliance Industries, Tata Chemicals, HCL Technologies, Divi’s Laboratories, Mahindra & Mahindra Financial Services, and IDFC First Bank.