The Indian markets kicked off the trading session on a positive note today, with the SENSEX and NIFTY hitting record highs. Market breadth looked promising with 1,709 stocks advancing while 345 stocks declined. This upbeat trend signifies a favorable sentiment in the market.
NSE NIFTY50 and BSE SENSEX began the day on a high note, reaching new record levels. In the broader market, the NIFTY Midcap 100 index and Smallcap 100 index performed exceptionally well, marking fresh all-time highs.
Today’s trading session follows Prime Minister Narendra Modi’s historic third-term inauguration. Investors are keenly monitoring the portfolio allocations under the new government and the 100-day roadmap for insights into market dynamics.
At 9:40 AM, the SENSEX was trading over 76,900, up by 0.32%, while the NIFTY50 was above 23,300, up by 0.36%. The Bank Nifty also saw a rise of 0.8%, hovering above 50,200.
In terms of sectoral performance, Nifty PSU Bank, Nifty Realty, and Nifty Energy emerged as top gainers, with increases of 2%, 1.8%, and 1.7% respectively. However, Nifty IT was the only major sector that underperformed, seeing a decrease of 1.05%.
Among the top gainers and losers within the NIFTY50 space, Power Grid Corporation, Adani Ports, and Adani Enterprises recorded gains, while Tech Mahindra, Infosys, and HCL Technologies faced losses.
The positive momentum in the Indian markets coincided with a slight dip in Wall Street stocks on Friday, driven by strong U.S. jobs data. This data led to expectations of delayed interest rate cuts by the Federal Reserve, prompting a rise in the dollar.
In conclusion, the Indian markets are off to a robust start, reflecting investor confidence and optimism. Stay tuned for further updates and analysis on HeadlineFly.com.
