Lucknow Press
Opening bell: The Indian stock market’s major indexes, BSE Sensex and Nifty 50, opened at record highs on Monday. Investors around the world are keeping an eye on how long the boom brought about by the US Federal Reserve’s big rate cut will last.
In early trade, the BSE Sensex was up 151 points, or 0.18%, at 84,695, while the Nifty 50 was up 84 points, or 0.33%, at 25,875.
Today’s top gainers and top losers
Out of the 30 stocks of BSE Sensex, only 6 stocks were in loss. These stocks included ICICI Bank, HCL Tech, Power Grid, Infosys, IndusInd Bank and Axis Bank.
Bharti Airtel, Mahindra & Mahindra, SBI, Kotak Mahindra Bank and Tata Steel were among the top gainers.
Indusind Bank was the only loser in the Nifty 50, while Tata Steel, Apollo Hospitals, BPCL, JSW Steel and Nestle India were the top gainers.
Among sectoral indices, pharma was the top gainer, rising 1.02 per cent, followed by Nifty Auto, which rose 0.87 per cent, and Nifty Realty, which rose 0.85 per cent.
How will the market move today?
Indian markets are expected to open on a positive note today i.e. Monday, as GIFT Nifty futures have reached the level of 25,900, which is around 150 points above the previous closing level of Nifty futures.
Meanwhile, Asia-Pacific markets got off to a sluggish start on Monday as investors in the region grappled with interest rate decisions by China and Japan on Friday after the US Fed’s sharp interest rate cut boosted markets last week.
Japan’s markets are closed on Monday for a public holiday, while Australia’s S&P/ASX 200 index opened 0.43 per cent lower.
South Korea’s Kospi fell 0.15 per cent, while Hong Kong’s Hang Seng index futures were seen at 18,199, down from the HSI’s previous close of 18,258.57.
China’s CSI 300 futures were at 3,183.8, lower than their previous close of 3,201.05.
Market movement on September 20?
Indian stock market rose amid rise in frontline bank shares and positive trends from global markets . The benchmark equity index, BSE Sensex and NSE Nifty50, reached historic highs by gaining more than 1 percent on Friday, the last trading day of the week. The Sensex crossed the milestone of 84,000 for the first time. At the same time, the Nifty has also reached close to the record level of 25,800.
The 30-share BSE Sensex rose 1359.51 points or 1.63 percent to close at an all-time high of 84,544.31. On the other hand, the NSE Nifty rose 375.15 points or 1.48 percent to close at a new peak of 25,790.95.
