Share Market Opening Bell: Sensex, Nifty open almost flat but positive, Cement stocks soar 3% in early trade
The Indian markets start Wednesday’s session near flatline but in the green. The BSE Sensex opened 58.53 points or 0.11 per cent to 52919.7, while Nifty opened with a meager gain of 1.3 points or 0.01 per cent to 15819.6 levels today.
The Indian markets start Wednesday’s session near flatline but in the green. The BSE Sensex opened 58.53 points or 0.11 per cent to 52919.7, while Nifty opened with meagre gain of 1.3 points or 0.01 per cent to 15819.6 levels today.
In the broader markets, Mid-cap Index too grew marginally by 10.5 points or 0.04 per cent to 27159 levels at the market open today, and the Nifty Bank Index also opened flat but negative with a slight decline of 28.6 points or 0.08 per cent to 35550.6 levels on Wednesday.
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Of 50 scrips on the Nifty50, 16 advanced, while 34 declined minutes after the market open today.
Cement and banking stocks are holding the benchmark, as UltraTech Cement, Shree Cement both grew over three per cent to become today’s index gainers, followed by HDFC Bank, Bajaj Finance each grew by two and a half per cent in the early trade.
While, ONGC declined most in the trade today at open by over one per cent, followed by L&T, IOC, Hindalco, and Sun Pharma declined between 0.3-0.6 per cent at the market open today.
In the early morning trade, all sectors are trading positive except Nifty IT, FMCG, and Pharma, of which the IT index declined most than peers. While, Nifty Realty jumped most in the sectoral list by over one and a half per cent, followed by banking and financial stocks minutes after open on Wednesday.
US markets on Tuesday ended mixed after a volatile session as Dow Jones closed lower by 200 points after being down over 400 intraday, Nasdaq closed in the red at a fresh new all-time high. Asian markets opened in the red led by the Japanese ‘Nikkei’, down over 200 points in early trade today.
Similarly, another important trigger for domestic markets, Foreign Institutional Investors sold shares worth Rs 543.3 crore in cash and bought Rs 521.3 crore in index futures.
The Nifty on Tuesday had a positive session till the last hour, however, Tata Motors arm JLR’s weak EBIT guidance by Tata Motors saw a wave of profit booking and the index closed negative after hitting new highs at 15,915.
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