Indian stock market live updates today 8 March 2021
Market Live 8 March: Indian stock markets are trading higher, PSU Banks are in focus
Market live, 8 March: It was an optimistic start for the Indian stock market today amid positive Asian market cues. Nifty opened at 15002.45, up by 64.35 points while Sensex made a gap up opening of 248.7 points at 50654.02 levels. The Bank Nifty on the spot price opened at 35462.45 levels, up by 234.3 points.
At 9.30 am IST, Sensex and Nifty are trading higher by 0.66% and 0.68% respectively while Bank Nifty on the spot price is trading 1.22% up.
ONGC, GAIL, UPL are trading as the top gainers in the Nifty50 index whereas Bajaj Auto, Ultratech, and Nestle are trading as the top losers. The most active stocks in the Nifty50 index at this moment are Adani Ports, Tata Motors, and Reliance.
On the sectoral front, barring the aviation sector, all other major sectors are trading higher. The top gaining sectors at this moment are PSU Bank, Metals, Oil & Gas, and Infrastructure.
Indian stock market may open in the green today
Good morning and welcome to the Indian stock market live updates today, 8 March at 7.50 am IST
Asian markets are trading in the green today. Nikkei and Hang Seng are trading higher by 0.84% and 0.64% respectively while Shanghai is trading 0.87% up. SGX Nifty is trading higher by 140 points or 0.94%. As per the indication getting from the other Asian markets Indian stock market may open in the green today.
The US markets rallied on Friday due to the better-than-expected job reports. The 10-year US Treasury note yields remained the same, at about 1.57% possibly, because it had already anticipated the good jobs data over the preceding sessions. The US market indices Dow and S&P 500 gained 1.85% and 1.95% respectively while Nasdaq was up by 1.55% on Friday.
European indices slipped at the end of the week as bond yields rose on inflation expectations that were pushed up by strong U.S payroll data. The European market indexes CAC and DAX closed lower by 0.82% and 0.97% respectively while FTSE was down by 0.32% on Friday.
The Indian markets were closed lower on Friday due to the weakness in the global markets. The Sensex and Nifty fell by 0.87% and 0.95% respectively on Friday. FIIs and DIIs both were sellers in the cash market segment. FIIs sold Rs 2014.16 crores while DIIs sold Rs 1191.19 crores on Friday 6th March.
News that may impact the Indian stock market live today 8 March
The bank credit growth has increased in the last month and returned to the levels observed in the early months of the coronavirus pandemic. The bank credit growth found to be 6.6% YoY in February, higher than the 6.4% recorded in the same month last year. This is as per the recent research report by CARE Ratings.
As per RBI data showed on Friday, the country’s foreign exchange increased for the second consecutive week, touching $584.554 billion as of February 26, up by $689 million. In the previous week, the overall reserves had increased by $169 million to $ 583.865 billion.
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