Markets conclude in green backed by FIIs' buying activity

7 Jun 2023 , 03:53 PM

Indian stock markets rang closing bells in the green zone today as investors keenly look forward to the Reserve Bank of India’s monetary policy outcome.

In today’s trade, the markets saw a strong rally, especially in mid- and small-cap stocks, as Foreign Institutional Investors (FIIs) resumed their buying activity. Their increased participation contributed to the positive momentum in the market.

Global markets are driving the rally in the domestic equities. Asian peers finished on a positive note.

Indian benchmark indices maintained their high spirits throughout the day with Nifty touching the 18,700-mark for the first time in 2023.

Nifty FMCG and Realty closed over 1% higher. Nifty Metal pack shined with a gain of 1.50%. All other sectoral indices closed in green. Nifty Midcap 50 closed 0.80% higher.

Britannia Industries was the top gainer on NSE today. Tata Consumer also joined the gainers as the company is set to make acquisitions in the F&B space. BPCL, Nestle India, and HDFC Life were among the other gainers on the nifty index today.

Kotak Bank, Cipla, Maruti Suzuki, Bajaj Finance, and Adani Ports were the top losers. Only 7 stocks on the nifty index declined today.

HDFC Bank, ICICI Bank, and Axis Bank were the most active stocks in terms of value. While in terms of volume, Tata Steel, Coal India, and Tata Motors were on the top.