Sensex, Nifty open in green on Monday; Tata Motors shares rise 1
时间:2024-06-26 15:32:55 阅读(143)
Domestic equity benchmarks opened in green on Monday amid mixed sentiment in global markets. The BSE Sensex rose marginally by 30 points or 0.05% to 60,871.24 and NSE Nifty 50 advanced 25 points or 0.14% to 18131.7. The top gainers of the Sensex were Tata Steel, Tata Motors, ICICI Bank, State Bank of India and Bharti Airtel while Asian Paint, Sun Pharma, Bajaj Finance, Bajaj Finserv and Tech Mahindra were the top losers.Tata Motors, Shriram Finance shares in focus today
Tata Motors shares rose 1.42% to Rs 393.60 on Monday after its subsidiary Tata Passenger Electric Mobility said that it will complete the acquisition of Ford India’s manufacturing plant at Sanand in Gujarat on January 10, 2023. As a part of the acquisition, Ford India will transfer the entire land, buildings, and the vehicle manufacturing plant, along with machinery and equipment, for Rs 725.7 crore. On the other hand, Shriram Finance shares fell 1.15% to Rs 1364.00 after the company informed that it has raised a five-year loan of $100 million from the Asian Development Bank (ADB) through external commercial borrowing (ECB) under its social finance framework.
In the sectoral indices, Nifty Bank was up 0.57%, Nifty FMCG was down 0.19%, Nifty IT was down 0.19%, Nifty PSU Bank was up 0.80% while Nifty Pharma was down 0.91%. The volatility index India VIX was up 2%.
Asian and US stock marketsOther Asian markets remained closed on Monday. On Friday, the US stock market ended lower.
FII and DII dataForeign institutional investors (FII) sold shares worth a net Rs 2950.89 crore while domestic institutional investors (DII) purchased shares worth a net Rs 2266.2 crore on Friday, December 30, 2022, according to the data available on NSE.
NSE F&O BanNo stock/security has been placed under the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, January 2, 2023.
上一篇:Buy NTPC, Adani Transmission, others, Jefferies says power sector set to witness decade of growth
下一篇:Will Nifty touch fresh record high- Five things to watch out for before share market opening bell
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However, he believes that the impact on the Indian market is going to be temporary since there could be some short-term impact on flows into Indian equity markets. But since the Indian economy is on a strong wicket and will continue to remain resilient.
“Improved fiscal situation, controlled current deficit, stable interest scenario combined with good corporate earnings should lead to limited impact on the Indian bond market and equity market too,” he added.
The midcap and smallcap indices took a bigger knock with the BSE MidCap fell 2.51%, while BSE SmallCap index dived 4.18%. According to Amnish Aggarwal, head, research, Prabhudas Lilladher, the valuations were already high and some correction was expected. “If the situation sustains as it is then further correction can’t be ruled out,” Aggarwal said.
Telecommunication and industrials indices were the top laggards with BSE Telecommunication declining 3.82%, followed by BSE Industrials falling 3.26%. JSW Steel (-2.99%), Tata Steel (-2.52%) and Tata Consultancy Services (-2.44%) were the top losers of Sensex.
Surprisingly, both foreign portfolio investors and domestic institutional investors were net buyers today. While, FPIs net bought shares worth Rs 252.25 crore, DIIs have purchased shares worth Rs 1,111.84 crore, as per provisional data from exchanges.
Calling this a “normal phenomena” Pankaj Pandey, head, research, ICICI Direct said, “I will not really give too much weight to a single day buying figure. Amid concerns of elevated interest rate and geopolitical tensions, in a typical market cycle, 8-10% correction is possible at any point in time.”
The brunt of geopolitical conflict, elevated interest rates and rising crude oil prices was also felt by other Asian- Pacific markets. Jakarta Composite Index lost 1.57% followed by Shanghai Composite Index and PSEi, which fell 1.47% and 0.89%, respectively. Nikkei and KOSPI declined 0.83% and 0.76%.
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