Tag: Sensex

European markets opened weak even as the ECB decided to keep policy rates unchanged despite the inflationary pressure. US futures were trading in red following slow GDP growth and disappointing earnings from tech giants, he noted.

The rupee gained 11 paise to close at 74.92 (provisional) against the US dollar on Thursday despite massive sell-offs in the domestic equity market as easing crude oil prices lent some support to the local currency.

"Nifty could take further direction post European markets opening, but likely to end in the positive for the day."

L&T was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, HCL Tech, HUL, Axis Bank and Bharti Airtel.

Infosys was the top gainer in the Sensex pack, rising over 2 per cent, followed by Tata Steel, HDFC Bank, ICICI Bank, Titan and IndusInd Bank.

According to Gaurav Garg, Head of Research, CapitalVia Global Research: "We witnessed a correction in the market and an attempt to hold the level above the Nifty50 Index level of 17,600. Our research suggests that it is going to be crucial for the short-term market scenario to sustain above the 17,450-17,550 Nifty50 Index support zone."

Privatisation hopes on few metal names fuelled a 3 per cent upmove on the metal index even as select pharmaceutical and speciality chemical stocks saw good buying interest.

The Sensex opened at 58,889.77 points from its previous close of 59,126.36 points.

The BSE Sensex has boomed 135 per cent from the lows of 2020 lockdown and has scaled the 60,000 mark. This could be enough for some investors to cash-out by booking profits and tempting for others to jump into the bandwagon.

The broader NSE Nifty50 traded above the 17,900-mark. It opened at 17,897.45 points from its previous close of 17,822.95 points.

The Indian stock market is witnessing a high level of volatility affected by global cues as markets all across showing weak trends.

Both key indices, S&P BSE Sensex and NSE Nifty50, made new record highs. The Sensex crossed the 59,500 mark, while Nifty breached the 17,700 level.

The broader NSE Nifty climbed 54.20 points or 0.31 per cent to its new closing record of 17,377.80, while international oil benchmark Brent crude rose 0.80 per cent to USD 72.03 per barrel.

The 30-share Sensex was trading 260.26 points or 0.45 per cent higher at 58,390.21, and Nifty advanced 75.75 points or 0.44 per cent to 17,399.35 in initial deals.

Titan was the top gainer in the Sensex pack, rising around 2 per cent, followed by Reliance Industries, Kotak Bank, SBI, NTPC and IndusInd Bank.