Indian Stock market News
The top five sectors in which FIIs held Indian equities were BFSI, IT, energy and gas, auto, and pharma, which accounted for 60 per cent of FII holdings.
According to data from the National Stock Exchange (NSE), DIIs invested a total of Rs 3,54,861.75 crore in Indian equities between January 1 and June 25 this year.
The performance of sectoral indices was mixed as Bank Nifty, Auto, FMCG, and Realty ended in the red while metal, consumer durables, pharma, and media sectors managed to close with gains.
According to analysts, even though the US bombing of Iran’s three nuclear facilities has worsened the crisis, the impact on the market is likely to be limited.
Rupee traded higher by 24 paise to close at 85.09 against the US dollar, supported by continued weakness in the dollar index, which fell to 98.93.
Mid- and small-cap stocks, which tend to be more volatile, took a harder hit. The Nifty Midcap 100 index slid 2.16 per cent, while the Nifty Smallcap 100 fell by 1.6 per cent -- indicating broader weakness in the market.
The escalating tensions between India and Pakistan following the Pahalgam terror attack, which claimed 26 lives, sent shock waves to Pakistan’s financial markets, though Indian equities remained strong, signaling resilience of India's economy.
The benchmark Nifty index gained 307.35 points or 1.28 per cent to close at 24,346.70, while the Sensex jumped 1,289.46 points or 1.62 per cent to end the week at 80,501.99.
The Sensex opened slightly lower at 80,058 and briefly touched a high of 80,174 in early trade.
Stock Market Today: US stock markets kicked off the week on a strong note, with all three major indices closing higher on Monday. The Dow Jones jumped over 300 points, while the S&P 500 and Nasdaq also posted solid gains.
ITC’s market value grew by Rs 15,329.79 crore, reaching Rs 5,27,845.57 crore, while Bajaj Finance gained Rs 12,760.23 crore, with a market value of Rs 5,53,348.28 crore.
The FMCG index jumped 2.94 per cent, while the Consumer Durables and Auto indices climbed 2.32 per cent and 2.54 per cent, respectively. The Realty sector also performed well and closed the day by rising 1.77 per cent.
The report stated that the number of individual investors actively trading in the National Stock Exchange (NSE)'s cash market increased slightly.
FPIs have been investing in Chinese stocks which are cheap even now. Now all eyes will be on Infosys results next week and management commentary on revenue growth guidance.
Stock Market Holiday: There will also be a special muhurat trading session on Diwali in 2024 which will take place on Friday, November 1, and the exact timings will be announced later.
The month of September witnessed the second highest inflows in 2024 so far, the last one being in March.
With intermittent corrections on global cues, benchmark indices in the secondary market have moved up, and the outlook remains bullish, said the RBI.
The number of trading accounts held by domestic investors reached 16.7 crore, underscoring increased market participation.
On Friday, the market will remain shut for Good Friday.
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