Share Markets Open In Green Amid Mixed Signals, Sensex Over 83,700, Nifty Tests 25,650
Share markets remained closed for trading on Wednesday as the country celebrated Guru Nanak Jayanti. This was the only festive holiday for traders this month.
The Indian markets looked set for an uncertain start on Thursday after taking a trading break for Guru Nanak Jayanti on November 5. The BSE Sensex opened the session today above 83,700, climbing close to 250 points, while the NSE Nifty50 crossed 25,600, jumping 36 points, around 9:15 AM.
On the 30-share Sensex, Asian Paints, M&M, Reliance, Adani Ports, and SBI stood among the early gainers. Meanwhile, the laggards included PowerGrid, Eternal, Bajaj Finance, HDFC Bank, and HCL Tech.
In the broader markets, the Nifty50 and Nifty100 led the gains and rose 0.28 per cent and 0.24 per cent respectively. Sectorally, the Auto index jumped nearly 1 per cent.
Notably, the GIFT Nifty took a hit of over 60 points and breached 25,750 around 8:38 AM, indicating a heavy sentiment prevalent among investors. In the pre-open session, the Sensex bled 77 points and breached 83,400, while the Nifty tanked more than 150 points and neared 25,400, around 9:02 AM.
Global Markets
Asian markets opened on a positive note, with South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng index all trading higher on Thursday. Overnight, US markets also closed in the green, extending their recent rally.
Meanwhile, Commerce and Industry Minister Piyush Goyal said on Wednesday that India and the US are engaged in continuous talks regarding the proposed bilateral trade agreement, aimed at strengthening economic ties between the two nations.
As per exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,067.01 crore on Tuesday, while Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 1,202.90 crore.
Notably, in the previous trading session on Tuesday, both benchmarks registered major losses. The Sensex crashed over 500 points and the Nifty settled the session under 25,600.
The market dip was influenced by a combination of global uncertainty and domestic factors. Vinod Nair, Head of Research at Geojit Investments, noted, “Investor sentiment remained subdued ahead of the holiday-shortened week. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,883.78 crore on Monday, as rising US bond yields and waning expectations of a near-term Fed rate cut curbed risk appetite.”
Share markets remained closed for trading on Wednesday as the country celebrated Guru Nanak Jayanti. This was the only festive holiday for traders this month. Further, markets will observe typical weekend closures during November.
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