in the stock market
Mumbai:
The stock market opened flat on Tuesday. Both the major indices are trading at open and green mark with marginal gains. Sensex rose 62 points to 65690 while Nifty was trading up 22 points to 19551. In the Nifty 50, 35 stocks are seeing advances while only 15 stocks are seeing declines. Among the stocks that gained more momentum here are those of CIPLA, JIOFIN, TITAN, APOLLOHOSP, GRASIM. At the same time, the stocks that are witnessing decline here include shares of DRREDDY, HINDALCO, TATASTEEL, JSWSTEEL, BHARTIARTL.
Also read this
Let us tell you that on Monday, both the benchmark indices Sensex and Nifty closed higher for the second consecutive trading session due to encouraging macro-economic data at the domestic level amid a strong trend in global markets. According to traders, increased foreign capital inflows and buying in information technology (IT) and metal companies also boosted market sentiment. BSE’s 30-share flagship Sensex closed up 240.98 points, or 0.37 per cent, at 65,628.14 points. At one point during trading, it jumped 296.75 points to 65,683.91 points.
The National Stock Exchange (NSE) index Nifty also rose 93.50 points or 0.48 percent to close at 19,528.80 points. Among the Sensex companies, Wipro registered the highest gain of 4.34 percent. Apart from this, gains were seen in HCL Tech, Ultratech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. On the other hand, Mahindra & Mahindra, ITC, Axis Bank, Nestlé, Kotak Mahindra Bank and Asian Paints declined. In the broader market, the BSE midcap index rose 0.96 percent, while the smallcap index gained 0.84 percent.
Manufacturing activity in India picked up pace in August, according to a survey released on Friday. Apart from this, the Goods and Services Tax (GST) collection in August also increased by 11 percent to Rs. 1.59 lakh crore, as better compliance and reduced tax evasion. Vehicle sales figures have also been very encouraging. August has seen record monthly sales so far due to festive demand and continued strong SUV sales.