Sensex and Nifty show minimal movement: IT stocks lead the charge!
Sensex is up by 0.05 per cent, hovering around 85,870, and Nifty is slightly up by 0.09 per cent, trading near 26,240.
Market Update at 9:30 AM: On Friday, Indian markets opened on a flat note, with both Nifty and Sensex showing minimal movement. Nifty IT led the gains, while Nifty Realty was the biggest laggard.
As of now, the Sensex is up by 0.05 per cent, hovering around 85,870, and Nifty is slightly up by 0.09 per cent, trading near 26,240. However, in the broader market performed, the Nifty Midcap rose by 0.12 per cent to approximately 60,530, and the Nifty Smallcap rose by 0.28 per cent, trading near 19,310.
India VIX declined by 1.50 per cent and is trading at 11.82, indicating a slight fall in market volatility.
Within the sectoral landscape Nifty IT, Nifty Metal, and Nifty MID SELECT are among the Top Gainers while Nifty Realty, Nifty Energy, and Nifty FMCG are the sectors which are underperforming.
INFY, TECHM, and LTIM are among the top gainers within the Nifty 50 while POWERGRID, LT, and BHARTIARTL are among the Top Losers.
About 1,442 stocks are advancing as against to 793 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 8:05 AM: The S&P 500 hit a record close on Thursday, with the Dow and Nasdaq also rising, as Micron Technology shares surged and positive U.S. jobless claims data eased labor market concerns.
The S&P 500 gained 23.11 points, or 0.40 per cent, closing at 5,745.37, after touching a record high of 5,767.37 during the day. The Dow Jones climbed 260.36 points, or 0.62 per cent, to 42,175.11, while the Nasdaq added 108.09 points, or 0.60 per cent, finishing at 18,190.29.
The GIFT Nifty is trading high, signaling a positive opening for the day. Nifty futures are currently trading at 26,402.35.
U.S. crude oil prices dropped nearly 3 per cent on Thursday after reports that Saudi Arabia plans to increase production later this year. Sources told The Financial Times that Saudi officials are willing to boost output in December, even if it leads to lower oil prices.
On Thursday, West Texas Intermediate (November): $67.67 per barrel, down $2.02, or 2.9 per cent. U.S. crude is down over 5 per cent this year. Brent (November): $71.60 per barrel, down $1.86, or 2.53 per cent. The global benchmark is down about 7 per cent this year.
On September 26, 2024, foreign institutional investors (FII) bought shares worth Rs 629 crore, while domestic institutional investors (DII) bought shares worth Rs 2,405 crore.
Stocks that are banned for trading in the F&O segment on September 27, 2024, are ABFRL, GRANULES, HINDCOPPER, IDEA, IEX.
Disclaimer: The article is for informational purposes only and not investment advice.