Share Market Opening Bell! Nifty, Sensex open in the green; Nifty Bank hits new life high – IT stocks continue to drag
The Indian market on Tuesday opened in the green with Nifty Bank hitting a new record high. The benchmark indices Nifty rose above 17,900 and Sensex started near 60,300 on Tuesday.
The Indian market on Tuesday opened in the green with Nifty Bank hitting a new record high. The benchmark indices Nifty rose above 17,900 and Sensex started near 60,300 on Tuesday. The BSE Sensex gained 208 points or 0.35 per cent to 60,285 and Nifty grew 51 points or 0.3 per cent to 17,906 today.
While in the broader markets, Mid-cap Index too opened in the green by 109 points or 0.4 per cent to 30,262 levels today at the market open. While Nifty Bank made a record opening, up 188 points or 0.5 per cent to 38,360 levels, led by SBI up near 1 per cent.
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Of 50 scrips on Nifty50, 31 advanced, 19 declined minutes after the market open today. ONGC and BPCL gained most at the open along with Coal India, each up over 1 per cent, followed by M&M and SBI, which gained nearly 1 per cent at the market open today.
On the contrary, IT Stocks continue to drag the market for second straight session — HCL Tech, Infosys, Tech Mahindra, Wipro each down by over 1 per cent, while TCS declined near 1 per cent.
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Pharma and IT indices continued to decline, while Nifty Auto, FCMG and Metal gained. Nifty IT fell most by over 1 per cent in the early morning trade, while Nifty FMCG gained most by around 0.5 per cent. Nifty Media and Realty drag the broader markets, as both indices are down over 1 per cent.
Globally, the US markets on Monday ended mixed as Dow Jones closed higher by 70 points while Nasdaq closed lower by 77 as bond yields rose to 4-month highs. While Asian markets on Tuesday opened in the red led lower by the Japanese 'Nikkei' which was down 200 points in early trade.
Foreign Institutional Investors (FIIs), one of the important triggers to the domestic markets, sold shares worth Rs 594.63 crore in cash and bought Rs 1397.69 crore in index futures on Monday.
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