Market boom ahead of retail inflation data, Nifty closed below 23,400 after setting an all-time high

Stock Market During the trading session, the main benchmark of the National Stock Exchange made a new all-time high of 23,441, which was earlier 23,411.

Market boom ahead of retail inflation data, Nifty closed below 23,400 after setting an all-time high

Wednesday's trading session was full of ups and downs for the indian Stock Market. Nifty set a new record on Wednesday, june 12. Not only this, most of the market indices continued to trade in the green mark. During this, Nifty reached the level of 23,441. At the same time, Nifty closed at 23,322 points with a gain of 58 points or 0.25 percent.

During the trading session, the main benchmark of the National Stock Exchange (NSE) made a new all-time high of 23,441, which was earlier 23,411. The benchmark Sensex of the bombay Stock Exchange (BSE) closed 149 points or 0.20 percent higher at 76,606 points. Tremendous buying was seen in small and mid-cap stocks.

The Nifty Midcap 100 index rose 559 points or 1.02 percent to 54,226 and the Nifty Smallcap 100 index rose 216 points or 1.23 percent to 17,788. Sector-wise, PSU banks, metals, media, energy, infra, healthcare and PSE closed higher. At the same time, pressure was seen on auto, FMCG and realty.

At the end of the trading day, india VIX was down 2.64 percent to 14.38 points. Power Grid, Tech Mahindra, Bajaj Finance, NTPC, UltraTech Cement, L&T, Tata Steel, Bharti airtel and Bajaj Finserv were the top gainers in the Sensex pack. M&M, HUL, Titan, Infosys, Axis Bank, Nestle, tcs and kotak mahindra bank were the top losers.

LKP Securities senior technical analyst Rupak Dey says that after the initial rise in trade, the Nifty has closed flat. 23,400 is a major hurdle level. The market can consolidate between 23,300 and 23,500. If it goes above 23,500, then the level of 23,800 can also be seen.

These are the reasons for the rise in the market

Stock market experts believe that the reason for the rise in Nifty is the mixed business in the US market. Dow Jones closed at 38,747 with a gain of 0.31 percent. On the other hand, foreign investors sold shares worth Rs 111.04 crore on june 11. Domestic institutional investors bought shares worth Rs 3,193.29 crore, which kept the sentiments bullish.

At the same time, let us tell you that the retail inflation figures for May will be released shortly. Experts believe that inflation may come down this month. Retail inflation stood at 4.83 percent in April.