Stock Market indices closed with positive bias

Stock Market indices closed with positive bias

Ira Singh
12 July’23

The Indian equity market indices swung between gains and losses before settling lower on Wednesday, as caution prevailed ahead of key corporate earnings as well as domestic and U.S. inflation data, due later in the day.

At close, the Nifty fell 55.10 points or 0.28 percent to close at 19,384.30,and the Sensex declined 0.34 percent or 223.94 points to close at 65,393.90.

HDFC stocks: July 12 fixed as HDFC’s last day on stock exchanges post mega-merger :
The shares of HDFC are getting delisted from the exchanges following a $64 billion all-stock reverse merger deal with subsidiary HDFC Bank. As per a BSE release, JSW Steel will replace HDFC in Sensex after the delisting, according to sources.

Stocks and Sectors

ONGC was the biggest gainer in the Nifty, rising nearly 2 percent, followed by Eicher Motors that rose further 1 percent. Other gainers were Nestle, Kotak Mahindra Bank and SBI Life Insurance,among others.While,Adani Enterprises was the biggest loser, down over 1 percent. Tata Motors, UltraTech Cement, Infosys and Adani Ports were other losers that lost more than one percent each, according to sources.

On the sectoral front,Nifty PSU Bank, Nifty and Nifty Media were among the top gainers. Nifty IT was the top loser for the day.

BSE midcap and smallcap indices up 0.5 percent each.

On 12th July’23,the Indian rupee rises 16 paise to close at 82.25 against the US dollar, registering gains for the third straight session amid broader weakness in the greenback ahead of the US inflation data.

Experts Take:
Market experts have recommended six stocks to buy for Wednesday- Ashok Leyland, Glenmark Pharmaceuticals, Sun Pharmaceuticals, SAIL, Dabur, and Bharat Electronics.