Share Market Opening Bell! Stock Market starts mix today; JSW Steel, ITC top gainers
In line with the Asian markets, the Indian markets started Monday’s session mixed with Nifty opening above 15,800 and Sensex near 53,000-mark. The companies that reported their quarterly results on the last weekend surged the most at the open today.
The BSE Sensex opened positive around 10 points or 0.02 per cent to 52985.3, while Nifty slipped by 6.7 points or 0.04 per cent to 15,849.3 levels at open on Monday. The fall in the Nifty50 is mostly led by the Nifty Bank, as the Index slumped over 86 points or a quarter per cent to 34,947.8 today at open.
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In the broader markets, the mid-cap index grew by 54 points or 0.2 per cent to 27,639-level at open on Monday.
Of 50 scrips on Nifty50, 13 advanced, and 36 declined and one remained unchanged minutes after the market open today. On the back of strong first-quarter results, JSW Steel surged most by over 1 per cent in the mixed market, along with ITC, which opened 0.5 per cent positive amid Q1 earnings.
Similarly, Tata Consumer Products, Tata Steel, and Infosys are also one of the five stocks that grew by 0.5 per cent at the market open on Monday
On the other hand, UPL. ONGC and SBI slumped most in the early morning trade today, each fell between 0.5-0.8 per cent, followed by Wipro, HDFC Life and Indian Oil Corporation.
The majority of sectoral indices in the early morning trade on Monday opened in the green, while banking and financial stocks along with Auto weakened the Nifty Index today. Nifty Metal and Media are surging most in the sectoral gainers with over 0.5 and 1 per cent respectively.
On the global front, the US markets on Friday hit a fresh new all-time high as Dow Jones closes at the highest ever level rising over 1,200 points in the last 3-days. While. Asian markets on Monday opened mixed with the Japanese 'Nikkei' trading higher by over 400 points after the long weekend holidays.
Another important trigger to the domestic markets, Foreign Institutional Investors (FIIs) sold shares worth Rs 163.31 crore in cash, and bought Rs 2187.8 crore in index futures on Friday.
The Nifty had another positive close on Friday even though its close was off the intraday highs. The index hit 15,899-level before closing with gains of 32 points.
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