Share Market Opening Bell! Nifty, Sensex open near record highs; SBI helps Nifty Bank breach record 38000-mark
The Indian markets started Monday’s session near record-high levels, with the benchmark Sensex above 60,300-level, while Nifty50 short of 70 points from the 18000-mark.
The Indian markets started Monday’s session near record-high levels, with the benchmark Sensex above 60,300-level, while Nifty50 short of 70 points from the 18000-mark. The BSE Sensex gained 255 points or 0.43 per cent to 60,304 and Nifty50 surged 79 points or 0.44 per cent to 17,932 levels on Friday.
While in the broader markets, Mid-cap Index too opened in the green by 116 points or 0.4 per cent to 30260 levels today at the market open. While Nifty Bank made a record opening, up 224.5 points or 0.6 per cent to 38054.8 levels, led by SBI up near 1 per cent.
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Of 50 scrips on Nifty50, 46 advanced, 03 declined and one remained unchanged minutes after the market open today. Tata Motors gained most at the market open, up 1.64 per cent, followed by ONGC up 1.43 per cent, M&M up 1.29 per cent, Eicher Motors up 1.16 per cent.
On the contrary, IT Stocks slumped most as Tech Mahindra, HCL Tech declined most by over 1 per cent, followed by Wipro down near 1 per cent. While Divis Lab is topmost laggard in otherwise positive markets, down 1.4 per cent in the early morning trade on Monday.
Except for Metal, Pharma, IT, and FMCG, almost all sectoral indices opened in the green in the early morning trade. Nifty Auto surged most minutes after market open, up over 1 per cent, followed by banking and financial stocks up near 1 per cent. While Nifty Media, Realty, and PSU Bank are also powering most to the broader market index both Mid and small-cap indices.
On the global front, the US markets ended flat on Friday as Dow Jones closed with positive bias and Nasdaq with negative. While the Asian markets on Monday opened in the green with the Japanese 'Nikkei' trading up nearly 100 points amid rising crude oil.
Foreign Institutional Investors (FIIs), one of the important triggers to the domestic markets, bought shares worth Rs 442.49 crore in cash and sold Rs 515.85 crore in index futures on Friday.
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