Indian markets open strong: Nifty Metal leads the rally; No sector loses!
The Sensex climbed 0.50 per cent, trading around 81,945, while the Nifty advanced 0.57 per cent, nearing 25,060.
Market Update at 9:30 AM: On Thursday, Indian markets opened on a positive note with both Nifty and Sensex registering gains. Nifty Metal led the pack as the top gainer, while no sector stood out as a top loser.
The Sensex climbed 0.50 per cent, trading around 81,945, while the Nifty advanced 0.57 per cent, nearing 25,060. The broader market also moved upward, with the Nifty Midcap rising 0.88 per cent to approximately 59,450, and the Nifty Smallcap increasing 0.59 per cent, trading near 19,275.
India VIX has declined by 4.11 per cent and is trading at 13.07, indicating a decline in market volatility.
Within the sectoral landscape Nifty Metal, Nifty PSU Bank, and Nifty Pharma are among the Top Gainers while there is no sector which is underperforming.
TATASTEEL, SHRIRAMFIN, and ADANIPORTS are among the top gainers within the Nifty 50 while TATAMOTORS, ASIANPAINTS, and M&M are among the Top Losers.
About 1,730 stocks are advancing as against to 491 stocks that are declining, thus indicating a positive sentiment in the broader market.
DSIJ offers a service 'Flash News Investment' with recommendations for Profit-making Ideas for You (Weekly) based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here
Pre-Market Update at 8:20 AM: All three major U.S. stock indexes closed higher on Wednesday, with gains in the technology sector outweighing investor disappointment over an early morning inflation report. The report dashed hopes that the Federal Reserve would lower interest rates by 50 basis points next week.
The Dow Jones Industrial Average increased by 124.75 points, or 0.31 per cent, to 40,861.71. The S&P 500 added 58.61 points, or 1.07 per cent, reaching 5,554.13, while the Nasdaq Composite rose by 369.65 points, or 2.17 per cent, to 17,395.53.
In early Thursday trading, U.S. Treasury yields saw a rise, with the 10-year yield increasing by 26 basis points to 3.66 per cent, while the 2-year yield climbed 40 basis points to 3.65 per cent.
The GIFT Nifty is signaling a positive opening for the market, pointing to a strong start to the day, with Nifty futures trading at 24,945.
Oil prices rose on Thursday, even though worries about reduced demand wiped out gains from the previous session, which had been driven by Hurricane Francine's effect on U.S. production, the world's largest crude producer. Brent crude was trading 0.34 per cent higher at $70.85 per barrel.
On September 11, 2024, foreign institutional investors (FII) bought shares worth Rs 1,755 crore, while domestic institutional investors (DII) sold shares worth Rs 230 crore.
Stocks that are banned for trading in the F&O segment on September 11, 2024, are AARTIIND, ABFRL, BALRAMCHIN, BANDHANBNK, CHAMBLFERT, HINDCOPPER, and RBLBANK
Disclaimer: The article is for informational purposes only and not investment advice.