Indian Stock Market Today: Nifty and Sensex Updates
The Indian stock market ended on a negative note on Friday, with the Nifty falling below the 25,700 levels and the Sensex down 604 points. The GIFT Nifty was trading at a 0.03% decline at 25,809.50 as of 6:50 a.m., indicating a muted to negative open for the benchmark Nifty 50.
Nifty and Sensex Performance
Nifty ended 193.55 points or 0.75% lower at 25,683.30, while Sensex settled 604.72 points or 0.72% down at 83,576.24. The broader indices also ended in the negative, with Nifty Midcap 150 ending 0.88% lower and Nifty Smallcap 250 closing 1.70% lower.
Sectoral Indices
Most sectoral indices fell, with Nifty Realty and Nifty Auto leading the decline. Nifty Oil and Gas, Nifty IT, and Nifty PSU Banks were among the gainers. The market breadth was skewed in favour of sellers, as 3,098 stocks declined, 1,067 advanced, and 189 remained unchanged on the BSE.
Global Market Updates
The US stock rally on Friday was driven by largely benign jobs data, which showed payroll growth coming in slightly below economists’ expectations while the unemployment rate dipped to 4.4%. The dollar weakened after Federal Reserve Chair Jerome Powell said the central bank had received grand jury subpoenas from the Justice Department, raising the prospect of a criminal indictment linked to his June testimony before Congress on the renovation of the Fed’s headquarters.
Asian Market Updates
Asian equities opened on a firmer note after strong US jobs data pushed Wall Street to fresh record highs on Friday, while oil prices rose amid escalating protests in Iran. Stocks in Australia and South Korea, along with Hong Kong index futures, moved higher, tracking the S&P 500, which gained 0.6% to end at an all-time high.
Commodity Updates
Gold jumped to a fresh record as US jobs data kept expectations of further interest-rate cuts alive, while intensifying protests in Iran lifted geopolitical risk. Bullion rose above $4,564 an ounce early Monday after last week’s US payrolls report showed job growth came in below forecasts, reinforcing bets that the Federal Reserve will continue to ease policy to support the economy.
Corporate Actions
Several companies announced key updates, including Bank of Baroda receiving RBI nod for units for standalone primary dealer business, Crompton Greaves launching 70W & 80W Dynaray LED lamps, and Travel Food Services arm entering a license with Delhi Airport to operate food and beverage outlets at the airport.
Stocks in Focus
Some of the stocks that will be in focus today include Trent Ltd, Reliance Industries Ltd, and NBCC, among others.
Conclusion
The Indian stock market is expected to be volatile today, with investors keeping a close eye on global market updates, commodity prices, and corporate actions. To stay ahead of the curve, it’s essential to stay informed about the latest market updates and trends. You can visit our website for more information on stock market news and investing in India.