Benchmark indices open on a flat note; MARUTI, WIPRO lead gains!
Sensex is up by 0.22 per cent, hovering around 85,360, and Nifty is slightly up by 0.17 per cent, trading near 26,040.
Market Update at 9:30 AM: On Thursday, Indian markets opened on a flat note, with both Nifty and Sensex showing minimal movement. Nifty IT led the gains, while Nifty Metal was the biggest laggard.
As of now, the Sensex is up by 0.22 per cent, hovering around 85,360, and Nifty is slightly up by 0.17 per cent, trading near 26,040. However, in the broader market performed, the Nifty Midcap dipped by 0.33 per cent to approximately 60,270, and the Nifty Smallcap declined 0.35 per cent, trading near 19,290.
India VIX declined by 2.90 per cent and is trading at 12.36, indicating a fall in market volatility.
Within the sectoral landscape Nifty IT, Nifty Realty, and Nifty FMCG are among the Top Gainers while Nifty Metal, Nifty Energy, and Nifty PSU Bank are the sectors which are underperforming.
MARUTI, WIPRO, and LTIM are among the top gainers within the Nifty 50 while HEROMOTOCO, ONGC, and HINDALCO are among the Top Losers.
About 985 stocks are advancing as against to 1,265 stocks that are declining, thus indicating a negative sentiment in the broader market.
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Pre-Market Update at 8:30 AM: The Dow Jones and S&P 500 dropped on Wednesday, pulling back from recent highs boosted by China's stimulus package, as investors awaited key economic data and signs of future interest rate cuts.
The Dow fell 293.47 points, or 0.70 per cent, to 41,914.75. The S&P 500 slipped 10.67 points, or 0.19 per cent, to 5,722.26, while the Nasdaq edged up 7.68 points, or 0.04 per cent, to 18,082.21.
The U.S. 10-year Treasury yield is down by 15 bps to 3.77 per cent, while the 2-year bond yield dropped 11 bps to 3.55 per cent during early trading on Thursday.
The GIFT Nifty is trading firm, signaling a positive opening for the day. Nifty futures are currently trading at 26,130.90.
Oil prices were mostly steady on Thursday after a drop in the previous session. Higher fuel demand and declining stockpiles in the U.S., the largest oil consumer, balanced out concerns about demand in other regions, especially China.
Brent crude rose 9 cents, or 0.12 per cent, to $73.55 a barrel, while U.S. West Texas Intermediate increased 4 cents, or 0.06 per cent, to $69.73 per barrel.
On September 25, 2024, foreign institutional investors (FII) sold shares worth Rs 973 crore, while domestic institutional investors (DII) bought shares worth Rs 1,778 crore.
Stocks that are banned for trading in the F&O segment on September 26, 2024, are ABFRL, GRANULES, HINDCOPPER, IDEA, IEX.
Disclaimer: The article is for informational purposes only and not investment advice.