The domestic stock market has seen a resurgence, with support from global markets impacting the Indian market positively. Heavyweights in the market are showing strength, and the performance of Tata and Bajaj stocks is influencing the Indian market. However, within the first 15 minutes of market opening, the Nifty has retraced its gains.
How the Market Opened Today: The Indian stock market began with a strong start, and the Sensex has breached the triple century mark. The BSE Sensex is trading at 64,449 levels, up by 337 points or 0.53%. The NSE Nifty has opened at 19,232, with a strong gain of 92.05 points or 0.48%.
Bank Nifty Shows Strong Gains in Early Trading: Bank Nifty had initially surged to levels above 43,356 but has since retraced to 43,102, showing a fall of 257 points from its day high. However, many banking stocks are still showing strong gains, and some PSU bank stocks have gained significantly.
Performance of Sensex Stocks in Early Trading: In the early trading session, out of the 30 stocks in the Sensex, 26 were showing gains, and only 4 were in the red. Tata Motors is leading the gainers with a 1.25% increase, followed by Bajaj Finserv with a 0.90% rise. Nestle’s shares have increased by 0.65%, and Tata Steel is up by 0.60%.
Nifty’s Current Status: At this moment, Nifty has retraced its gains and is trading with a decline of approximately 25.40 points at 19,115.50 levels. Among the Nifty 50 stocks, 18 are trading in the green, while 30 are in the red, and 2 are unchanged.
Nifty’s Top Losers: Britannia Industries has seen a 1.24% decline, followed by ONGC with a 1.14% decrease. Bharti Airtel is down by 0.76%, and M&M is trading with a 0.75% drop. LT Foods Limited is also in the red.
Pre-Open Market Status: In the pre-opening phase, BSE Sensex was trading at 64,623, up by 511 points or 0.80%. NSE Nifty had a substantial gain of 301.75 points, or 1.58%, at 19,442 levels.
Strong Performance in the US Markets: In the US markets, there was a remarkable surge seen yesterday, with the Dow Jones Industrial Average closing at 32,928, up by 511 points or 1.58%. The Nasdaq Composite Index also closed higher, with a gain of 146 points or 1.16% at 12,789 levels. The S&P 500 Index saw a rise of 1.2% to close at 4,166.