Mixed start for Indian markets: Nifty Smallcap rises while broader indices struggle
The Sensex is up by 0.05 per cent trading around 82,243 while the Nifty is also up by 0.07 per cent and is trading around 25,161.
Market Update at 9:40 AM: On Friday, Indian markets opened on a negative note, with Nifty and Sensex experiencing losses while, the Broader indices also displayed negative performance except for Nifty Smallcap. Nifty Metal emerged as the top gainer, while Nifty Pharma and Nifty Realty are flat.
The Sensex is up by 0.05 per cent trading around 82,243 while the Nifty is also up by 0.07 per cent and is trading around 25,161. Whereas, in the broader, the Nifty Midcap declined by 0.05 per cent trading at 59,424 while the Nifty Smallcap surged by 0.42 per cent trading at 19,603.
India VIX has slightly declined by 1.55 per cent and is trading at 13.99, indicating a slight decrease in market volatility.
Within the sectoral landscape only Nifty IT, Nifty Realty, and Nifty FMCG are among the Top Gainers while Nifty PSU Bank, Nifty Energy and Nifty Bank are the sectors which are underperforming.
LTIM, BAJFINANCE, and BAJAJFINSV are among the top gainers within the Nifty 50 while SBIN, COALINDIA, and ULTRACEMCO are among the Top Losers.
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About 1,388 stocks are advancing as against to 826 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:30 AM: The S&P 500 and Dow closed lower on Thursday, while the Nasdaq ended slightly higher. The Dow fell 219.22 points (0.54 per cent) to 40,755.75, the S&P 500 lost 16.66 points (0.30 per cent) to 5,503.41, and the Nasdaq gained 43.37 points (0.25 per cent) to 17,127.66.
The US 10-year Treasury yield remained steady at 3.72 per cent, while the 2-year bond yield dropped by 17 basis points to 3.73 per cent.
The GIFT Nifty is trading lower, indicating a weak start for the day. Nifty futures were trading at 25,235.
Oil prices rose slightly in early Friday trading as investors considered a significant drop in U.S. crude inventories and OPEC+ producers postponing production increases, while also factoring in mixed U.S. employment data.
West Texas Intermediate (October): $69.15 per barrel, down 5 cents, down 3.5 per cent YTD.
Brent (November): $72.69 per barrel, down 1 cent, down 5.7 per cent YTD.
On September 05, 2024, foreign institutional investors (FII) sold shares worth Rs 688 crore, while domestic institutional investors (DII) bought shares worth Rs 2,970 crore.
Stocks that are banned for trading in the F&O segment on September 04, 2024, are ABFRL, BALRAMCHIN, BANDHANBNK, BIOCON, CHAMBLFERT, HINDCOPPER, and RBLBANK
Disclaimer: The article is for informational purposes only and not investment advice.