A modest gain in the stock market.
Mumbai:
The stock market of the country is witnessing trading with some speed in the morning on the first trading day of the week. Sensex was trading up 113 points at 64999 and Nifty up 53 points at 19319. In the Nifty 50, 42 stocks are gaining and 8 stocks are declining. On the other hand, the stocks which are showing rise include the shares of ADANIENT, ADANIPORTS, LT, TATASTEEL, ULTRACEMCO while the stocks which are seeing decline are the shares of BRITANNIA, NESTLEIND, HINDUNILVR, TATAMOTORS, BAJFINANCE.
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Significantly, in the morning GIFT Nifty was trading with a strength of 60 points. He lived around 19280. In the Asian markets, Japan’s Nikkei opened with good growth and is rising rapidly, currently trading at a speed of 560 points (+1.77%), China’s Shanghai Composite was trading at a speed of over 2.50%. Hong Kong’s Hang Seng was up over 2%, Korea’s Kospi was up around 1%.
Notably, in volatile trade, the market fell for the second day in a row on Friday with the BSE Sensex losing 365 points while the Nifty fell below the 19,300 level. Shares of financials, IT and oil companies led the sell-off amid weak sentiment in global markets and fears of a policy rate hike.
BSE’s 30-share benchmark Sensex closed down 365.83 points, or 0.56 per cent, at 64,886.51 points. It slipped to 519.77 points at one point during trading. The National Stock Exchange’s index Nifty also closed down 120.90 points or 0.62 percent at 19,265.80 points.
Among the Sensex stocks, Larsen & Toubro, JSW Steel, IndusInd Bank, Power Grid, ITC, Mahindra & Mahindra, NTPC, HDFC Bank, ITC, Reliance Industries and Tata Motors were the biggest losers.
On the other hand, the beneficiaries include Bajaj Finserv, Asian Paints, Bajaj Finance, Bharti Airtel and Axis Bank. BSE Sensex closed down 62.15 points and Nifty 44.35 points on weekly basis.