Muted market start: Tech stocks weigh as Realty index surges
Sensex is down by 0.01 per cent, hovering around 80,225, and Nifty is up by 0.01 per cent, trading near 24,280.
Market Update at 9:35 AM: On Thursday, markets opened on a flat note, with both Nifty and Sensex showing flattish movement. The Nifty Realty index led the gains, while the Nifty IT index lagged behind.
As of now, the Sensex is down by 0.01 per cent, hovering around 80,225, and Nifty is up by 0.01 per cent, trading near 24,280. Similarly, in the broader market, the Nifty Midcap rose about 0.99 per cent to about 56,600, and the Nifty Smallcap is up by 0.85 per cent, trading near 18,660.
India VIX is down by 0.07 per cent, trading at 14.62, indicating low market volatility and a flat trend.
Within the sectoral landscape Nifty Realty, Nifty Media, and Nifty FMCG sector is among the Top Gainers while Nifty IT, Nifty Auto and Nifty Pharma sector are underperforming.
ADANIENT, COALINDIA, and BPCL are among the top gainers within the Nifty 50 while TECHM, INFY, and EICHERMOT are among the Top Losers.
About 1,785 stocks are advancing as against to 477 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 8:25 AM: A decline in the largest global technology companies weighed on US stocks, while recent economic data bolstered hopes for a slower pace of Federal Reserve rate cuts.
The S&P 500 closed 0.38 per cent lower at 5,998.74, the Dow Jones dropped 0.31 per cent to 44,722.06, and the Nasdaq Composite ended 0.60 per cent down at 19,060.48.
The GIFT Nifty is trading flat, indicating a flat start for the day. Nifty futures were trading at 24,449.95.
The U.S. 10-year Treasury yield stands at 4.261 per cent, while the 2-year bond yield at 4.231 per cent.
Brent crude dipped below $73 and WTI below $69 per barrel as markets awaited the OPEC+ meeting amid oversupply concerns. Geopolitical risks persisted despite an Israel-Hezbollah ceasefire. US crude stocks fell by 1.8 million barrels, while gasoline inventories rose sharply by 3.3 million barrels.
On November 27 2024, foreign institutional investors (FII) bought shares worth Rs 7 crore, while domestic institutional investors (DII) bought shares worth Rs 1,301 crore.
As of November 28, 2024, no stocks are under the F&O segment trading ban.
Disclaimer: The article is for informational purposes only and not investment advice.