stock market today: Indian benchmark index, bse sensex And Nifty50 continued its winning streak on Saturday after closing in the green on Friday. While BSE Sensex opened up 300 points to reclaim 72,000 level. nifty 50 Was above 21,700. Benchmark indices opened stronger amid positive global handover and buying in banks and auto stocks.
At 9:31 am, BSE Sensex was up over 130 points at 71,816.64, while Nifty 50 was at 21,689.10, up over 60 points.
Banks and financial stocks led the way, with banking gauge Nifty Bank rising 0.66% to 46,002. All 12 stocks of the index were trading positive.
In the Nifty pack, 42 stocks were on the winning side, seven were in the red, and one stock remained unchanged. Of the 30 Sensex stocks, 23 were in profit, while seven were in loss.
Power Grid Corporation, HDFC Bank, NTPC, Bajaj Finance and IndusInd Bank were the top gainers, while Hindustan Unilever, UltraTech Cement, Wipro, Nestle India and Maruti Suzuki were the top losers.
Following the fall in global markets, Indian domestic indices broke their three-day losing streak on Friday. According to ET report, today the market will react to the results of major index giants like Reliance, HUL, ICICI Bank and Kotak Bank. ICICI Bank, Kotak, IDBI Bank, IDFC First Bank and many other companies will announce their third quarter results today.
According to VK Vijayakumar, chief investment strategist at Geojit Financial Services, the recent market correction has not changed the underlying bullish trend. Although selling by foreign institutional investors (FIIs) is being offset by domestic institutional investors (DIIs) and retail buying, the market’s strength is being supported by the strong economy.
Therefore, FII selling is not powerful enough to have a significant impact on the market as it used to be, he said. Investors can take advantage of this feature of the market by buying quality stocks temporarily affected by FII selling. Vijayakumar stressed the importance of investing in high quality stocks in performing sectors, as many underperforming stocks in the broader market are currently overvalued due to speculative trading. He cautioned that a correction in these stocks is inevitable.
According to an exchange circular issued late Friday night, the stock exchange will have normal trading operations at the primary site on Saturday, but will remain closed on January 22.
Earlier, stock exchanges had announced to hold a special live trading session from the disaster recovery site on Saturday. But, now as per the latest circular, regular trading activities will be carried out on the primary site and there will be no switchover.
Meanwhile, the S&P 500 hit a record high on Friday for the first time in two years, driven by a rally in chipmakers and other heavyweight technology stocks on optimism over artificial intelligence. The S&P 500 was up 1.23%, the Nasdaq rose 1.70%, and the Dow gained 1.05%.
Oil prices edged slightly lower on Friday but posted a weekly gain as Middle East tensions and oil production disruptions offset concerns about the Chinese and global economies.
Foreign portfolio investors were net sellers of Rs 3,689 crore on Friday, while DIIs bought shares worth Rs 2,638 crore.
At 9:31 am, BSE Sensex was up over 130 points at 71,816.64, while Nifty 50 was at 21,689.10, up over 60 points.
Banks and financial stocks led the way, with banking gauge Nifty Bank rising 0.66% to 46,002. All 12 stocks of the index were trading positive.
In the Nifty pack, 42 stocks were on the winning side, seven were in the red, and one stock remained unchanged. Of the 30 Sensex stocks, 23 were in profit, while seven were in loss.
Power Grid Corporation, HDFC Bank, NTPC, Bajaj Finance and IndusInd Bank were the top gainers, while Hindustan Unilever, UltraTech Cement, Wipro, Nestle India and Maruti Suzuki were the top losers.
Following the fall in global markets, Indian domestic indices broke their three-day losing streak on Friday. According to ET report, today the market will react to the results of major index giants like Reliance, HUL, ICICI Bank and Kotak Bank. ICICI Bank, Kotak, IDBI Bank, IDFC First Bank and many other companies will announce their third quarter results today.
According to VK Vijayakumar, chief investment strategist at Geojit Financial Services, the recent market correction has not changed the underlying bullish trend. Although selling by foreign institutional investors (FIIs) is being offset by domestic institutional investors (DIIs) and retail buying, the market’s strength is being supported by the strong economy.
Therefore, FII selling is not powerful enough to have a significant impact on the market as it used to be, he said. Investors can take advantage of this feature of the market by buying quality stocks temporarily affected by FII selling. Vijayakumar stressed the importance of investing in high quality stocks in performing sectors, as many underperforming stocks in the broader market are currently overvalued due to speculative trading. He cautioned that a correction in these stocks is inevitable.
According to an exchange circular issued late Friday night, the stock exchange will have normal trading operations at the primary site on Saturday, but will remain closed on January 22.
Earlier, stock exchanges had announced to hold a special live trading session from the disaster recovery site on Saturday. But, now as per the latest circular, regular trading activities will be carried out on the primary site and there will be no switchover.
Meanwhile, the S&P 500 hit a record high on Friday for the first time in two years, driven by a rally in chipmakers and other heavyweight technology stocks on optimism over artificial intelligence. The S&P 500 was up 1.23%, the Nasdaq rose 1.70%, and the Dow gained 1.05%.
Oil prices edged slightly lower on Friday but posted a weekly gain as Middle East tensions and oil production disruptions offset concerns about the Chinese and global economies.
Foreign portfolio investors were net sellers of Rs 3,689 crore on Friday, while DIIs bought shares worth Rs 2,638 crore.
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