Indian Markets Open Flat Amid Sectoral Divergence; Realty & Pharma Shine Early
Realty and Pharma stocks lead the pack, while IT and Financials lag as markets open with a cautious tone.
Market Update at 9:30 AM: As anticipated from the GIFT Nifty, The Indian indices opened flat on September 3. At 9:30 am, the BSE Sensex edged down by 0.06 per cent reaching a level of 82,524. The Nifty 50 index lost 0.03 per cent to the 25,269 level.
In terms of sectoral performance, Nifty Realty, Nifty Pharma and Nifty Healthcare Index are Top Gainers, while Nifty IT, Nifty Oil & Gas, and Nifty Financial Services emerged as notable laggards.
Hindalco Industries, Sun Pharma, Shriram Finance, Divis Labs and M&M were among major gainers on the Nifty, while losers were Bajaj Finance, Bajaj Finserv and Infosys. With 1,580 shares rising on the NSE and 679 shares declining, the advance-decline ratio remained in favour of Advances.
Pre-Market Update at 8:30 AM: The record run continued on Dalal Street with Nifty ending higher for the 13th consecutive session on September 2, supported by bank, FMCG, and Information Technology names.
Asian markets were mostly higher on Tuesday as investors assessed South Korea's August inflation numbers, which eased to their lowest level on a year-on-year basis since March 2021. The GIFT Nifty is trading higher, indicating a flat to positive start for the day.
The US markets were shut on Monday on account of Labor Day.
Brent oil prices slid in Asian trade on Tuesday as concern about a sluggish economy in China bringing down demand outweighed the impact of a blockade of oil production facilities in Libya.
Brent crude futures were down 37 cents, or 0.48%, to $77.15 a barrel.
On September 3, foreign institutional investors (FIIs) bought shares worth Rs 1,735 crore, while domestic institutional investors (DIIs) made a sizeable inflow of Rs 356 crore.