Benchmark indices open on a positive note with Nifty Media among the top gainers!

Benchmark indices open on a positive note with Nifty Media among the top gainers!

Siddharth Mane
/ Categories: Trending, Mkt Commentary

On Thursday, Indian markets opened the trading session on a positive note while, the Broader indices also opened higher. Nifty Media emerged as the top gainer, while Nifty Metal experienced the largest losses.

Market Update at 9:40 AM: On Thursday, Indian markets opened the trading session on a positive note while, the Broader indices also opened higher. Nifty Media emerged as the top gainer, while Nifty Metal experienced the largest losses.

The Sensex is trading up by 0.06 per cent above the 81,800 mark while the Nifty has also gained by 0.04 per cent and is trading above the 25,000 level. Similarly, in the broader indices, the Nifty Midcap gained by 0.09 per cent trading above the 59,100 level while the Nifty Smallcap slightly gained by 0.22 per cent and is trading above the 19,300 mark!

India VIX has marginally gained by 0.07 per cent and is trading above the mark of 13.5, indicating a slight increase in market volatility.

Within the sectoral landscape Nifty Media, Nifty Pharma and Nifty Financial Services are among the Top Gainers while Nifty Metal, Nifty IT and Nifty Realty are among the losers!

Cipla, Bajaj Auto and Shriram Finance are among the top gainers within the Nifty 50 while Hindalco, LTIMindtree and Ultratech Cement are among the Top Losers.

About 1192 stocks are advancing as against to 958 stocks that are declining, thus indicating a positive sentiment in the broader market.

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Pre-Market Update at 8:00 AM: U.S. stocks declined on Wednesday as investors awaited Nvidia's quarterly report, the week's most anticipated event, which could either stall or further fuel a rally driven by AI optimism.

The S&P 500 dropped 0.60 per cent to close at 5,592.18 points, the Nasdaq fell 1.12 per cent to 17,556.03 points, and the Dow Jones Industrial Average decreased by 0.39 per cent to 41,091.42 points.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a slight gain of 0.14 per cent or 36 points. Nifty futures are currently trading near the 25,173.00 mark.

Oil prices remained largely stable on Thursday as a smaller-than-anticipated drop in U.S. crude inventories and ongoing concerns about demand in China balanced against supply disruptions in Libya.

Brent crude futures edged down 1 cent to USD 78.64 a barrel, while U.S. West Texas Intermediate crude futures rose 8 cents, or 0.1 per cent, to USD 74.60.

On August 28, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,347.53 crore, while domestic institutional investors (DII) bought shares worth Rs 439.35 crore.    

Stocks that are banned for trading in the F&O segment on August 29, 2024, are BANDHANBNK, GRANULES, HINDCOPPER and INDIACEM.

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