Stock Market Today (Representative Image)
Sensex Today: IT, Media indices opened 1% decrease, financials held gentle positive factors
Sensex Today: Equity benchmarks staged a sensible restoration within the final hour of commerce, serving to these indices hit contemporary report highs, amid a pointy swing in banking and monetary shares. That aside, liquidity-associated cues from China aided sentiment.
China’s central financial institution governor mentioned there was room to additional lower banks’ reserve necessities. This is a part of Beijing’s broader financial coverage “adjustments” so the financial system can hit its progress goal of round 5 per cent for the yr.
The S&P BSE Sensex, which stayed within the unfavourable zone for the higher a part of the day, closed 409 factors, or 0.55 per cent, larger at 74,086 ranges. The Nifty50, too, surpassed the 22,450-mark to finish at 22,474, up 118 factors or 0.53 per cent.
The BSE benchmark hit a report excessive of 74,151, whereas the Nifty50 claimed 22,497 intraday.
Kotak Bank, Axis Bank, Sun Pharma, Bharti Airtel, ICICI Bank, IndusInd Bank, HCL Tech, Titan, TCS, L&T, and M&M had been the highest gainers at this time, surging as much as 2.45 per cent.
In the broader markets, the BSE MidCap and the BSE SmallCap indices, nonetheless, stayed within the revenue-reserving zone with the indices down 0.65 per cent and 1.9 per cent , respectively.
Among sectors, the Nifty Bank, and Private Bank indices gained 0.8 per cent every, adopted by 0.6 per cent rise within the Nifty Financial Services index. On the draw back, the Nifty Media index fell 2.5 per cent, the Nifty Realty index 1.3 per cent, and the Nifty Metal 0.5 per cent.
“Nifty is likely to consolidate at around the present levels. Dips will be bought since institutional buying has been strong. Sentiments are a bit weak in the NBFC space due to RBI’s restrictive actions against some NBFCs,” mentioned Dr. V Ok Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global cues
Asian markets principally fell this morning following losses on Wall Street in a single day. Nikkei, Kospi, ASX 200 fell 0.3-0.7 per cent. Hang Seng dipped under the flatline.
Overnight within the US, Apple shares dropped 3 per cent as iPhone gross sales fell 24 per cent in China in 2024, resulting in a 1.65 per cent drop within the Nasdaq. The Dow Jones and S&P 500 fell 1 per cent every.
