New Delhi: Shedding last five days’ trend, India’s benchmark stock market indices Sensex and Nifty opened in green on Monday, October 07, 2024. The 30 Sensex firms started early morning trade with a gap up at 81,926.99 points, while, the broader stock gauge traded flat at 25,181.90 levels. Among the Sensex pack, stocks like ITC, HCL Tech, Kotak Mahindra Bank, Tata Motors, Infosys, Ultra Cement, Bajaj Finance, Bajaj Finserv, Tech Mahindra, M&M etc traded in positive territory. Mostly IT, banking and auto and FMCG stocks kept Sensex buoyant on Monday.
Among the National Stock Exchange’s (NSE) thematic indices PSU Banks and IT traded positively.
In the last few days, India’s stock market gauges have faced huge selling pressure due to continue , foreign outflows, Sebi’s implementation of latest measures in the F&O segment and heightened middle east tension. The indices have closed in red for the last five trading sessions.
Continued FIIs Selling
Foreign investors turned net sellers in first week of October 2024. The FPIs offloaded shares worth Rs 27,142 crore in just the first three trading days of the current month. Although, in September, they had bought equities worth Rs 57,724 crore.
Asian Markets Buoyant
Other Asian markets of Japan, Seoul and Hoing Kong traded in positive territory on Monday. The Japan’s stock gauges have remained buoyant in last few trading sessions as the country’s newly elected Prime Minister Shigeru Ishiba has directed Japanese central bank not to hurry with the rate hikes. While, stock gauges in Hong Kong remain buoyant.
On the other hand, mainland Chinese stock market indices are closed since the last one week. Recently, stock exchanges in China have risen phenomenally on account of fresh stimulus measures announced by the Chinese central bank. The policy makers earlier pegged for reduction in interest rates to prop up its falling economy. Since then, the Chinese market gauges have only shot up in last few sessions.
On Friday, India’s benchmark stock market indices Sensex and Nifty closed in red for the fifth straight session. The 30 constituent index had settled at 81,688.45 points.
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