Markets open on a positive note, Nifty IT leads the way
Sensex is up by 0.31 per cent, hovering around 81,940, and Nifty is up by 0.23 per cent, trading near 25,070.
Market Update at 9:40 AM: On Monday, Indian markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty IT led the gains, while Nifty Energy was the biggest laggard.
As of now, the Sensex is up by 0.31 per cent, hovering around 81,940, and Nifty is up by 0.23 per cent, trading near 25,070. However, in the broader market performed, the Nifty Midcap is down by 0.32 per cent to approximately 58,280, and the Nifty Smallcap is down by 0.41 per cent, trading near 18,680.
India VIX rose by 0.92 per cent and is trading at 14.26, indicating a slight rise in market volatility.
Within the sectoral landscape Nifty IT, Nifty Pharma, and Nifty MID SELECT are among the Top Gainers while Nifty Energy, Nifty Metal and Nifty Media are the sectors which are underperforming.
ITC, INFY, and KOTAKBANK are among the top gainers within the Nifty 50 while TITAN, ADANIPORTS, and ONGC are among the Top Losers.
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About 729 stocks are advancing as against to 1,562 stocks that are declining, thus indicating a negative sentiment in the broader market.
Pre-Market Update at 8:30 AM: The Dow hit a record high on Friday, while the Nasdaq gained over 1 per cent, thanks to a strong jobs report that eased concerns about the economy.
September saw the biggest job growth in six months, with unemployment dropping to 4.1 per cent.
The Dow rose 341.16 points (0.81 per cent) to 42,352.75, the S&P 500 added 51.13 points (0.90 per cent) to 5,751.07, and the Nasdaq climbed 219.37 points (1.22 per cent) to 18,137.85.
The GIFT Nifty is trading slightly higher, signaling a positive opening for the day. Nifty futures are currently trading at 25,327.20.
The US 10-year Treasury yield remained steady at 3.96 per cent, while the 2-year bond yield rose 42 bps to 3.93 per cent on Monday. This followed Friday's report showing the economy added the most jobs in six months in September.
Oil prices trimmed gains on Monday after recording their largest weekly jump in over a year on Friday, driven by growing concerns of a potential wider conflict in the Middle East. Brent oil futures (Dec’24) declined 38 cents (0.49 per cent) to $77.67 a barrel, while U.S. West Texas Intermediate declined 27 cents (0.36 per cent) to $74.11 a barrel.
On October 04, 2024, foreign institutional investors (FII) sold shares worth Rs 9,896 crore, while domestic institutional investors (DII) bought shares worth Rs 8,905 crore.
Stocks that are banned for trading in the F&O segment on October 07, 2024, are BANDHANBNK, BSOFT, GNFC, GRANULES, HINDCOPPER, MANAPPURAM, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.