Mumbai, November 14 (IANS). The Indian stock market opened in a limited range on Thursday. Buying was seen in IT, PSU banks, financial services and pharma sectors in the initial trade.
In early trade at around 9.43 am, the Sensex was trading at 77,728.24 after rising 37.29 points or 0.05 percent, while the Nifty was at 23,562.05 after a slight gain.
The market trend remains positive. On the National Stock Exchange (NSE), 1,486 shares are trading in the green, while 803 shares are trading in the red. Nifty Bank is at 50,385.90 after rising 297.55 points or 0.59 per cent. Nifty Midcap 100 index is trading at 54,062.80 level after rising 261.95 points or 0.49 per cent.
At the same time, Nifty Smallcap 100 index is at 17,573.25 after rising 114.35 points or 0.66 percent. HCL Tech, Asian Paints, NTPC, IndusInd Bank, SBI, HDFC Bank and Tech Mahindra were the top gainers in the Sensex pack. Whereas, UltraTech Cement, Power Grid, Axis Bank, Hindustan Unilever, Maruti and M&M were the top losers.
According to market experts, the market is in a period of improvement. Along with this, the huge liquidity available with DIIs can promote this boom. However, this surge cannot be sustained.
“Such a rally is unlikely to be sustained as fundamentals are unfavorable. The Trump factor has already caused several major changes in the markets. The dollar index is strong and rising. The dollar is currently at 106.61. The US 10-year “Bond yields at 4.48% are strong headwinds for equity markets in emerging economies like India.”
Talking about Asian markets, except the markets of Seoul and Tokyo, the markets of Jakarta, Shanghai, Bangkok and Hong Kong are trading in the red. At the same time, the American stock markets closed on the green mark on the previous trading day.
Foreign institutional investors (FIIs) sold equities worth Rs 2,502 crore on November 13, while domestic institutional investors bought equities worth Rs 6,145 crore on the same day.
–IANS
SKT/KR
