Stock Market Today 12 July, 2023: Nifty Jumps Around 19,500, Sensex Gains 150 Pts

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Stock Market Today: Amid mixed global market signals, the Indian stock market opened on a bullish note today i.e. the third trading day of the week (Wednesday). GIFT Nifty also opened flat today and was seen trading around the 19,500 level.

The Sensex was up 149.65 points or 0.23% at 65,767.49 and the Nifty was up 50.20 points or 0.26% at 19,489.60. About 1447 stocks advanced, 482 stocks declined and 129 stocks remained unchanged.

LTIMindtree, JSW Steel, ITC, ONGC and Titan Company were the top gainers in the Nifty, while IndusInd Bank, M&M, Maruti Suzuki, Dr. Reddy’s Labs and Cipla were the top losers.

Indication of interest rate hike from US

US markets closed higher yesterday. The Dow Jones closed up 317 points. Dow was boosted by Salesforce, 3M and Boeing. The Nasdaq closed up 0.55 percent yesterday. While the S&P 500 index closed up 0.67 percent. In yesterday’s trade, 3M was up 5 percent, Salesforce was up 4 percent and Boeing was up 3 percent.

Meanwhile, there are indications of an increase in interest rates from America. 3 US Fed officials are in favor of raising rates. They believe that rate hike is necessary to reduce inflation. Fed official Mary Daly says rate hikes are necessary this year. Mary Daly is president of the San Francisco Fed. The US Fed wants to bring the inflation rate down to 2 percent.

Asian market

Asian markets are showing weakness today. GIFT NIFTY is trading down 8 points. At the same time, Nikkei is seen around 31848.58 with a decline of around 1.10 percent. However, there is an increase in strait times. It is trading with an increase of 0.25 percent. At the same time, the Taiwan market is trading at the level of 16892.51 with a decrease of 0.08 percent. While Hang Seng is closed today. At the same time, Kospi is witnessing a weakness of 0.28 percent. While the Shanghai Composite showed a decrease of 0.08 percent at the level of 3218.74.

Shares falling under F&O restriction on NSE

8 stocks Manappuram Finance, BHEL, Delta Corp, Granules India, Indiabulls Housing Finance, India Cements, Punjab National Bank and Zee Entertainment Enterprises are under F&O ban on NSE on July 12. Let us tell you that if the position in the securities exceeds their market wide position limit, the stocks included in the F&O segment are placed in the restricted category.

Statistics of FII and DII

On July 11, foreign institutional investors in the Indian markets poured Rs. 1197.38 crore was purchased. Local institutional investors on the day made Rs. 7.25 crores were sold.