Indian markets open flat: Nifty Metal leads, Realty lags behind
Sensex remained flat, down by 0.01 per cent, hovering around 84,900, and Nifty is slightly up by 0.02 per cent, trading near 25,950.
Market Update at 9:30 AM: On Wednesday, Indian markets opened on a flat note, with both Nifty and Sensex showing minimal movement. Nifty Metal led the gains, while Nifty Realty was the biggest laggard.
The Sensex remained flat, down by 0.01 per cent, hovering around 84,900, and Nifty is slightly up by 0.02 per cent, trading near 25,950. However, in the broader market performed, the Nifty Midcap dipped by 0.16 per cent to approximately 60,750, and the Nifty Smallcap gaining 0.33 per cent, trading near 19,500.
India VIX rose by 0.65 per cent and is trading at 13.88, indicating a slight rise in market volatility.
Within the sectoral landscape Nifty Metal, Nifty Energy, and Nifty Auto are among the Top Gainers while Nifty Realty, Nifty IT, and Nifty FMCG are the sectors which are underperforming.
POWERGRID, M&M, and TATASTEEL are among the top gainers within the Nifty 50 while BRITANNIA, ASIANPAINT, and TECHM are among the Top Losers.
About 1,289 stocks are advancing as against to 945 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 8:30 AM: The S&P 500 and Dow closed at record highs on Tuesday, despite weak U.S. consumer confidence data. Mining stocks surged after China's sweeping stimulus announcement.
The Conference Board's report showed a drop in consumer confidence in September due to labor market concerns.
The Dow rose 83.57 points (0.20 per cent) to 42,208.22, the S&P 500 added 14.36 points (0.25 per cent) to 5,732.93, and the Nasdaq gained 100.25 points (0.56 per cent) to 18,074.52.
The U.S. 10-year Treasury yield rose by 25 bps to 3.73 per cent, while the 2-year bond yield dropped 72 bps to 3.51 per cent during early trading on Wednesday.
The GIFT Nifty is showing a downward trend, signaling a negative opening for the day. Nifty futures are currently trading at 26,094.00.
Oil prices leveled off on Wednesday after a previous rise, as enthusiasm for China's stimulus eased. However, a report of declining U.S. crude and fuel inventories helped support the market.
Brent crude edged up by 3 cents to $75.20 a barrel, while U.S. West Texas Intermediate dipped 2 cents to $71.58 per barrel.
On September 24, 2024, foreign institutional investors (FII) sold shares worth Rs 2,784 crore, while domestic institutional investors (DII) bought shares worth Rs 3,868 crore.
Stocks that are banned for trading in the F&O segment on September 25, 2024, are ABFRL, GRANULES, HINDCOPPER, IDEA, IEX.
Disclaimer: The article is for informational purposes only and not investment advice.