Market Updates:Positive global cues lift the Nifty today
Stock Market Updates-Indian stock market ended in the green today. Nifty and Sensex gained 32.70 and 125.37 points respectively. Nifty today opened almost 25 points higher compared to the previous day’s closing.
Market Updates today
After getting a positive indication from the global market Indian benchmark indices opened gap up today. The sectors like Auto, Banks, Realty, Infra and Manufacturing were the gainers today. IT, Media, and Insurance, FMCG and Aviation sectors were a major loser today.
Auto stocks rallied today on expectations of GST cut and assurance from the Finance Minister Nirmala Sitharaman to take appropriate steps to revive the auto industry. The Finance Minister also stated yesterday that it is because of Ola and Uber the demand for buying a new car has decreased.
Nifty gainers and losers of the day
Today Bank Nifty also gained almost 1% and closed at 27776.20 in the end. Yes Bank was the biggest gainer in the Nifty50. The stock has rallied 13.47% today on the news that the co-founder Rana Kapoor is in talks with Paytm to sell his stake in the bank.
The top five Nifty50 gainers for the day are Yes Bank, Tata Motors, Eicher Motors, Maruti Suzuki, and Tata Steel. The five Nifty50 losers of the day are Wipro, ONGC, Gail, HCL Tech and Zee Ent.
The Nifty Midcap and Smallcap 100 indices also gained 140.90 and 81.50 points respectively. Jindal Steel and Oberoi Realty were the major gainers in the Nifty Midcap space gained 12% to 10% during the day. Wokhard and Jain Irrigation was the major gainer in the Nifty Smallcap space gained 20% and 10.40% respectively.
Market updates on FIIs, Crude, Rupee…
Today, after a long gap FIIs bought Rs 266.89 crores in cash segment and DIIs bought Rs1132.42 crores. Indian rupee got appreciated 0.26% compared to the last closing and closed at Rs71.69 against the US dollar.
The Brent crude oil is trading higher today at $ 62.89 per barrel almost 0.82% higher. Brent crude is trading higher because US crude inventories fall by 7.2 mln barrels. OPEC cuts oil demand forecasts. Higher crude price can become a concern for the Indian equity market later.
Conclusion
Tomorrow, the market may be volatile due to the IIP and CPI data which will be announced after the market hours. Traders should remain cautious and trade with strict stop loss and avoid leverage.
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Happy Investing
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