Market Rebounds Strongly, Nifty Reclaims 19,100 Mark

2 Nov 2023 , 03:37 PM

Market Overview:

• Benchmark indices staged a recovery, reversing the losses from the previous two sessions, with Nifty reclaiming the 19,100 mark.
• The Sensex closed at 64,080.90, marking a gain of 489.57 points, a rise of 0.77%. Meanwhile, the Nifty closed at 19,133.30, up by 144.10 points, a gain of 0.76%.
• Market breadth was positive as 2236 shares advanced, 1287 shares declined, and 140 remained unchanged.

Market Movement:

• In the Nifty index, top gainers included Britannia Industries, Hindalco Industries, IndusInd Bank, Apollo Hospitals, and UPL. On the flip side, Hero MotoCorp, Tech Mahindra, Bajaj Auto, HDFC Life, and ONGC were among the losers.
• Among the Sensex firms, notable gainers were IndusInd Bank, Kotak Mahindra Bank, Axis Bank, Titan, Infosys, Bajaj Finance, State Bank of India, Tata Consultancy Services, ICICI Bank, and HDFC Bank. Tata Steel was the only stock that saw a decline.
• All sectoral indices closed in positive territory, with metal, auto, capital goods, FMCG, power, oil & gas, and realty sectors marking gains of 1-2%.
• Both BSE Midcap and Smallcap indices surged by 1% each.

Investor Activity:

• Foreign Institutional Investors (FIIs) were seen offloading equities worth Rs 1,816.91 crore on the previous trading day according to exchange data.

This market overview indicates a strong rebound in the benchmark indices, led by gains across various sectors and stocks, with positive market breadth and gains in midcap and smallcap indices. Despite this, foreign institutional investors were observed to be selling equities in the market.