Benchmark indices open at their record highs with Nifty PSU Bank among the top gainers!
On Friday, Indian markets opened the last trading session of the week on a positive note while, the Broader indices also opened higher.
Market Update at 9:55 AM: On Friday, Indian markets opened the last trading session of the week on a positive note while, the Broader indices also opened higher. Nifty Realty emerged as the top gainer, while no major sectors underperformed.
The Sensex is trading up by 0.37 per cent making a new all-time high at 82,637.03 level while the Nifty has also gained by 0.36 per cent and made a record high at 25,258.80 level. Similarly, in the broader indices, the Nifty Midcap gained by 0.37 per cent trading above the 59,100 level while the Nifty Smallcap slightly gained by 0.22 per cent and is trading above the 19,200 mark!
India VIX has marginally declined by 0.91 per cent and is trading around the mark of 13.5, indicating a slight decrease in market volatility.
Within the sectoral landscape Nifty Realty, Nifty PSU Bank, Nifty Metal and Nifty Pharma are among the Top Gainers while no major sectors are currently underperforming.
Hero Motocorp, BPCL and Titan are among the top gainers within the Nifty 50 while Tata Motors, LTIMindtree and Shriram Finance are among the Top Losers.
About 1444 stocks are advancing as against to 763 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 8:30 AM: The Dow Jones Industrial Average reached a record high on Thursday, rising 0.59 per cent to close at 41,335.05 points, driven by strong U.S. economic data.
The Commerce Department reported that the economy grew faster than initially estimated, bolstered by strong consumer spending, easing recession concerns.
Meanwhile, Nvidia shares fell as its forecast met expectations but failed to excite investors.
The S&P 500 remained nearly flat at 5,591.96 points, while the Nasdaq slipped 0.23 per cent to 17,516.43 points.
The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a slight gain of 0.17 per cent or 42 points. Nifty futures are currently trading near the 25,270.00 mark.
Oil prices remained relatively stable in Asian trading on Friday, as concerns over tighter supplies in Libya and Iraq balanced ongoing fears of a demand slowdown. Despite a rebound earlier in the week due to production halts in Libya and anticipated cuts in Iraqi output, crude prices were still set to close August with losses.
Brent oil futures edged up 0.2 per cent to USD 80.08 a barrel, while West Texas Intermediate crude futures increased 0.1 per cent to USD 75.98 a barrel.
On August 29, 2024, foreign institutional investors (FII) purchased shares worth Rs 3,259.56 crore, while domestic institutional investors (DII) bought shares worth Rs 2,690.85 crore.
No stocks are banned for trading in the F&O segment on August 30, 2024.