Business
Nifty closes at 23,053 after reclaiming 23,000
The Hindu BusinessLine·
The Nifty 50 rose 0.51 percent to close at 23,053 on October’s last trading day, reclaiming 23,000 for the first time in eight sessions. The Sensex gained 0.42 percent to end at 74,459.53. Only 108 stocks advanced across the Nifty 500 universe. Brent December futures surged to $117.8 a barrel, their highest level since April.
Prism
What It Means For You
- Index investors saw the Nifty back above 23,000 while midcap and smallcap benchmarks fell 0.93 percent and 1.85 percent.
- India VIX climbed around 3 percent to 15.6, marking higher near-term volatility pricing.
- On a weekly basis, the Nifty ended 2 percent higher and the Sensex gained over 1,300 points.
What's Happening
- Trent led Nifty gainers, rising nearly 7 percent after results and Zudio crossing 1,000 stores.
- Laurus Labs rose over 7 percent after quarterly profit more than doubled.
- Spot gold slipped below $3,970 an ounce while silver fell more than 3 percent to around $50.4.
What Drove the Session
- Analysts linked crude strength to a tanker hit in the Strait of Hormuz and related geopolitical reports.
- WTI advanced toward $104 a barrel, with both benchmarks on course for October gains above 12 percent.
- MCX Gold fell around Rs 1,100 to Rs 1,41,500.
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