Markets open on a positive note; Nifty Fin Service leads gains

Markets open on a positive note; Nifty Fin Service leads gains

Gaurav Taparia
/ Categories: Trending, Mkt Commentary

Sensex is up by 0.02 per cent, hovering around 81,240, and Nifty is down by 0.14 per cent, trading near 24,820.

Market Update at 9:35 AM: On Monday, Indian markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty Fin Service led the gains and Nifty Media was the biggest laggard.

As of now, the Sensex is up by 0.02 per cent, hovering around 81,240, and Nifty is down by 0.14 per cent, trading near 24,820. Similarly, in the broader market, the Nifty Midcap declined about 0.17 per cent to about 58,550, and the Nifty Smallcap is down by 0.46 per cent, trading near 18,990.

India VIX rose by 0.44 per cent and is trading at 13.87, indicating a slight rise in market volatility.

Within the sectoral landscape Nifty Fin Service and Nifty Bank are among the Top Gainers while Nifty Media, Nifty Auto and Nifty FMCG are underperforming.

HDFCBANK, TECHM, and HDFCLIFE are among the top gainers within the Nifty 50 while TATACONSUM, KOTAKBANK, and BPCL are among the Top Losers.

About 738 stocks are advancing as against to 1,555 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:30 AM: The Dow Jones and S&P 500 hit record highs on Friday, while the Nasdaq also gained, driven by a surge in Netflix shares and a broader rise in tech stocks.

The S&P 500 added 23.20 points (0.40 per cent) to 5,864.67, the Nasdaq climbed 115.94 points (0.63 per cent) to 18,489.55, and the Dow rose 36.86 points (0.09 per cent) to 43,275.91.

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The GIFT Nifty is trading slightly positive, indicating a flat or positive start for the day. Nifty futures were trading at 25,089.55.

The U.S. 10-year Treasury yield stands at 4.08 per cent, while the 2-year bond yield at 3.95 per cent.

Oil prices steadied on Monday after steep losses last week, with traders focusing on demand cues and potential disruptions in the Middle East. Prices dropped over 7 per cent last week amid weak signals from China, leading OPEC and the IEA to lower demand forecasts.

Brent crude rose 0.2 per cent to $73.21 a barrel, and WTI futures gained 0.3 per cent to $68.90.

On October 18 2024, foreign institutional investors (FII) sold shares worth Rs 5,485 crore, while domestic institutional investors (DII) bought shares worth Rs 5,214 crore.

Stocks that are banned for trading in the F&O segment on October 21, 2024, are AARTIIND, BANDHANBNK, BSOFT, CHAMBLFERT, GNFC, GRANULES, HINDCOPPER, IDFCFIRSTB, IEX, LTF, NATIONALUM, PNB, SAIL, TATACHEM.

Disclaimer: The article is for informational purposes only and not investment advice. 

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