Share Market Opening 30 August: The domestic stock market is looking vibrant today on Friday ahead of the first quarter economic data. Both the major indices BSE Sensex and NSE Nifty have reached new record highs as soon as trading began.
Both the major domestic indices started trading with a great gain at 9:15 am. Sensex opened with a jump of about 320 points and Nifty with a jump of about 95 points. At 9:20 am, Sensex was trading above 82,400 points with a gain of about 250 points. Nifty50 index had crossed 25,240 points with a gain of about 90 points.
There was a great enthusiasm in the pre-open session
There is a buzz in the market since the pre-open session today. In the pre-open session, the Sensex had reached 82,640 points with a gain of more than 500 points, while the Nifty jumped by about 100 points and was trading near 25,250 points. Nifty futures looked strong in Gift City in the morning before the market opened. Nifty futures had reached 25,286 points with a premium of about 16 points.
A new high level record was also made on Thursday
Earlier on Thursday, the domestic stock market set a new high. In yesterday’s trading, the Sensex closed at 82,134.61 points with a gain of 349.05 points (0.43 percent). Earlier, the Sensex reached a high of 82,285.83 points in intraday, which is the new all-time high level of the Sensex. Similarly, after the end of trading, the Nifty closed at 25,151.95 points with a gain of 99.60 points (0.40 percent). During trading, the Nifty managed to reach a new all-time high level of 25,192.90 points.
Improved environment in global stock markets
The market environment improved a bit after the GDP data in the US. On Thursday, the Dow Jones Industrial Average was up 0.59 percent on Wall Street. However, the S&P500 remained almost stable, while the Nasdaq Composite Index fell slightly by 0.23 percent. Asian markets are trading in profit today. Japan’s Nikkei is up slightly, while the Topix has risen 0.23 percent. South Korea’s Kospi has risen 0.55 percent and Kosdaq has risen 0.74 percent. However, Hong Kong’s Hang Seng Index is indicating a bad start today.
GDP figures for the first quarter will come today
Today, the official data of the Indian economy for the first quarter of the current financial year i.e. April-June 2024 is going to be released. Before that, global credit rating agency Moody’s has increased the estimate of India’s economic growth. Moody’s feels that the Indian economy can grow at the rate of 7.2 percent in 2024 and 6.6 percent in 2025.
Only IT stocks are seeing pressure
In early trade, most of the big stocks on Sensex were in profit. Bajaj Finserv was the biggest gainer by 1.5%. Stocks like Titan, HDFC Bank, Bajaj Finance were also in profit by more than 1% each. Out of 30 stocks on Sensex, only 6 stocks were in decline. The four big IT stocks TCS, Infosys, HCL Tech and Tech Mahindra were in loss.
Also read: Changes in Morgan Stanley’s index from today, 5.5 billion dollars will come to Indian market, these shares will be in profit
