Nifty erase gains after hitting record highs - IT Stocks Fall
In the aftermath of prime minister Narendra Modi's historic oath of office for a third term, benchmark stock market indexes surged to all-time highs on Monday. The Nifty50 also hit a record high, as the Sensex crossed the 77,000 threshold for the first time. Nevertheless, the benchmark indexes lost their early gains and are now trading lower.
At 10:09 am, the NSE Nifty50 was slightly up by 1.35 points at 23,291.50, while the S&P BSE Sensex was down 67.22 points at 76,626.14. Although merchants and investors on Dalal Street have expressed optimism in prime minister Narendra Modi's historic third term, experts have pointed out that there may be economic difficulties, particularly in keeping a close eye on fiscal restraint.
At 10:09 am, the NSE Nifty50 was slightly up by 1.35 points at 23,291.50, while the S&P BSE Sensex was down 67.22 points at 76,626.14. Although merchants and investors on Dalal Street have expressed optimism in prime minister Narendra Modi's historic third term, experts have pointed out that there may be economic difficulties, particularly in keeping a close eye on fiscal restraint.
Amidst conflicting global indications, the key indian stock market indexes, the Sensex and Nifty 50, are probably going to begin weakly on Monday. The indian benchmark index has had a mediocre start, according to gift Nifty's trends. The gift Nifty was trading at a discount of around 50 points from the previous closing of the Nifty futures, at 23,285.
Domestic equities indexes closed at all-time highs on friday following the Reserve bank of India's (RBI) policy announcement. The Nifty 50 closed 468.75 points, or 2.05%, higher at 23,290.15, while the Sensex increased 1,618.85 points, or 2.16%, to conclude at 76,693.36.
Domestic equities indexes closed at all-time highs on friday following the Reserve bank of India's (RBI) policy announcement. The Nifty 50 closed 468.75 points, or 2.05%, higher at 23,290.15, while the Sensex increased 1,618.85 points, or 2.16%, to conclude at 76,693.36.