Stock Market Opening: The Indian stock market has started weak today and as soon as the market opened, a big decline is being seen in the IT stocks. Hero MotoCorp, United Spirits have seen a one-year high and the BSE stock is trading on a rise. The stock of HDFC Bank is showing a rise in the initial minutes.
Bank Nifty gave support to the market 45 minutes after opening
At 9.52 am, the Sensex has returned to the uptrend and the Nifty is also above 25400 which is close to its Tuesday’s level. Bank Nifty has clearly given relief to the market and after the fall in IT shares, the rise in bank shares has given relief to the stock market. Today, the shares of many private banks including HDFC Bank, ICICI Bank are showing strength. The rise in Bank Nifty is such that 11 out of its 12 shares are on the rise and only Axis Bank’s share is seen on the downtrend.
How was the start of the market
BSE’s Sensex opened at 83,037 with a fall of 42.52 points and Nifty is showing the start of trade at the level of 25,402 or 16.15 points. Today ONGC’s stock opened one percent higher which has come down to half a percent with the market opening. There has been a block deal in Bajaj Housing but this is the first day after its listing when the stock is showing some softness.
Latest update of Sensex and Nifty stocks
At 9.40 am, the BSE Sensex stocks are showing more greenery and even among the falling stocks, IT stocks are seen to be in the majority. Accenture is seen as the main reason behind the fall in IT stocks today and the IT index has slipped by around 2.50 percent.
Latest update of Nifty stocks
At 9.40 am, out of the 50 stocks of NSE Nifty, 32 stocks are seeing a rise and 18 stocks are trading with a decline. The top gainers in Nifty stocks today are Hero MotoCorp, Bajaj Finance, Shriram Finance, Britannia and Tata Motors and these five stocks are the top 5.
FMCG stocks continue to rise
If we look at FMCG stocks at this time, then the shares of ITC, HUL and Britannia are seeing a rise and today Nestle is also contributing to this rise.
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