FIRST TRADE: Sensex up 50 pts, Nifty tests 19,830; BSE jumps over 5%
Stock market news, stock market today: In the opening deals, the S&P BSE Sensex was up 50 points, or 0.08 per cent at 66,020.31 levels while the NSE's Nifty was trading well above the 19, 800 mark at 19,828.90, up 34 points, or 0.17 per cent.
Stock market news, stock market today: The benchmark indices opened in the green on Tuesday, November 28, after a long weekend. The markets were closed on Monday on account of Gurunanak Jayanti.
In the opening deals, the S&P BSE Sensex was up 50 points, or 0.08 per cent at 66,020.31 levels while the NSE's Nifty was trading well above the 19, 800 mark at 19,828.90, up 34 points, or 0.17 per cent.
In the pre-opening comment, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, "The two positive catalysts likely to aid sentiment are sluggish crude oil prices at $74.50 a barrel and both FIIs and DIIs turning net buyers of local stocks in Friday's session."
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Investors are likely to maintain caution ahead of the exit polls of five state elections on November 30. Also, the monthly F&O expiry this week will see investors covering their positions. Technically, if Nifty moves above the 19,889 mark then it’s safe to assume that Christmas has come early to Dalal Street and stock markets across the globe, Tapse added.
BSE shares rallied as much as 5 per cent to Rs 2,280 after global brokerage Jefferies initiated the coverage on the stock with a 'buy' call.
Honasa Consumer, the parent firm of Mamaearth, declined over 4 per cent after a block deal.
Paytm's parent company, One 97 Communications, was trading around half a per cent lower after billionaire Warren Buffet's Berkshire Hathaway Inc. sold its entire 2.46 per cent stake in the company for Rs 1,371 crore through an open market transaction at a loss of about 31 per cent per share.
The S&P BSE MidCap index traded 0.09 per cent higher at 33,641.67 levels while the S&P BSE SmallCap index was trading at 39,908.82, up 0.26 per cent.
Asian stocks edged higher on Tuesday, while the dollar was at its lowest in three months as investors remained convinced the Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.39 per cent higher and set for a nearly 7 per cent gain in November, its strongest monthly performance since January.
(With inputs from Reuters)
10:02 AM IST