Stock Market Updates: Nifty Above 26,200
Stock Market Updates: Nifty Above 26,200
Indian equity markets opened flat on Friday, maintaining the momentum after closing at record levels in the previous session.
Market Performance:
BSE Sensex: At 10 AM, the index stood at 84,940, up 104 points (0.12%).
Nifty 50: The index was at 26,262, gaining 46 points (0.18%).
Despite the positive opening, more than half of the Sensex stocks were in the red. Notable losers included:
Power Grid Corp.
Larsen & Toubro
Bharti Airtel
Hindustan Unilever
Bajaj Finserv
In contrast, gainers included:
Sun Pharma
Infosys
Tech Mahindra
HCLTech
Tata Steel
On the Nifty 50, 20 stocks were down, with Infosys, sun Pharma, and Hindalco industries leading the gains, while top drags included Larsen & Toubro and Hindustan Unilever.
Sector Performance:
The Nifty IT index was the top performer, rising 2.75%.
The Metal index increased by 1.09%.
Financial indices, including bank and Financial Services, were trading in the red, alongside FMCG, Auto, and Realty sectors.
The broader market showed positive movement, with the BSE SmallCap gaining 0.50% and the BSE MidCap climbing 0.23%.
Global Cues:
Most Asia-Pacific markets advanced, led by Chinese stocks.
Hang Seng: Up 2.43%
Shanghai Composite: Up 1.3%
Nikkei 225: Rose 0.33%
Topix: Slight decline of 0.23%
Kospi: Down 0.07%
Kosdaq: Down 0.15%
S&P/ASX 200: Up 0.06%
Globally, stock indexes hit record highs following a positive forecast from Micron Technology, while oil prices dropped amid reports of saudi arabia potentially abandoning its $100 a barrel price target. Additionally, silver reached its highest level in nearly 12 years, buoyed by interest rate cuts from major central banks.
The S&P 500 and the pan-European STOXX 600 index both achieved all-time closing highs, while MSCI’s global stock index reached an intraday record.