Market opens on a weak note; Nifty Metal leads, Realty lags
Sensex is down by 0.19 per cent, hovering around 81,460, and Nifty is down by 0.13 per cent, trading near 24,960.
Market Update at 9:35 AM: On Friday, Indian markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Metal led the gains, while Nifty Realty was the biggest laggard.
As of now, the Sensex is down by 0.19 per cent, hovering around 81,460, and Nifty is down by 0.13 per cent, trading near 24,960. Similarly, in the broader market, the Nifty Midcap is flat to approximately 59,935, and the Nifty Smallcap is up by 0.15 per cent, trading near 18,930.
India VIX declined by 1.11 per cent and is trading at 13.35, indicating a fall in market volatility.
Within the sectoral landscape Nifty Metal, Nifty IT, and Nifty Pharma are among the Top Gainers while only Nifty Realty, Nifty Fin Service, and Nifty Bank are the sectors which are underperforming.
TATASTEEL, HINDALCO, and JSWSTEEL are among the top gainers within the Nifty 50 while CIPLA, BAJFINANCE, and BAJAJFINSV are among the Top Losers.
About 1,070 stocks are advancing as against to 1,155 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 7:55 AM: Wall Street stocks rose on Wednesday, with the S&P 500 and Dow reaching record highs after the release of Federal Reserve minutes. The Dow gained 431.63 points (1.03 per cent) to 42,512.00, the S&P 500 added 40.91 points (0.71 per cent) to 5,792.04, and the Nasdaq rose 108.70 points (0.60 per cent) to 18,291.62.
The GIFT Nifty is trading marginally lower, indicating a flat or negative start for the day. Nifty futures were trading at 25,271.50.
The US 10-year Treasury yield remained steady at 4.06 per cent, while the 2-year bond yield dropped 16 bps to 3.95 per cent.
Oil prices dipped slightly on Friday after stronger-than-expected U.S. inflation data raised doubts about future interest rate cuts. However, prices were on track for a second weekly gain due to concerns over Middle East supply disruptions and Hurricane Milton’s potential impact on U.S. production.
Brent crude fell 0.5 per cent to $78.98 a barrel, while WTI dropped 0.4 per cent to $74.79 a barrel.
On October 10, 2024, foreign institutional investors (FII) sold shares worth Rs 4,926 crore, while domestic institutional investors (DII) bought shares worth Rs 3,878 crore.
Stocks that are banned for trading in the F&O segment on October 11, 2024, are BANDHANBNK, BSOFT, CHAMBLFERT, GNFC, GRANULES, HINDCOPPER, IDFCFIRSTB, MANAPPURAM, PNB, RBLBANK, SAIL, TATACHEM.
Disclaimer: The article is for informational purposes only and not investment advice.