Indian Stock Exchange Starts Steady, Nifty Surpasses 23,700
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Mumbai, Dec 24 (NationPress) The Indian stock exchange exhibited a steady start on Tuesday, buoyed by positive global indicators.
At approximately 9:28 am, the Sensex was recorded at 78,588.23, reflecting an increase of 48.06 points or 0.06 per cent, whereas the Nifty stood at 23,766.30, up by 12.85 points or 0.05 per cent.
The overall market sentiment remained optimistic. On the National Stock Exchange (NSE), 1,302 stocks were trading higher, while 877 stocks were trading lower.
Market analysts suggest that the relief rally observed yesterday may not sustain momentum in the upcoming days.
“Two categories of factors—external and internal—are likely to hinder a prolonged rally. Externally, the strong US dollar and elevated bond yields will encourage foreign institutional investors (FIIs) to sell during rallies. Internally, slowing growth and earnings are expected to be short-term negatives that will temper bullish sentiments,” they commented.
The Nifty Bank index saw a decline of 80.55 points or 0.16 per cent, landing at 51,237.05. The Nifty Midcap 100 index was at 57,016.10, down by 76.80 points or 0.13 per cent. Meanwhile, the Nifty Smallcap 100 index stood at 18,660.65, retreating by 27.15 points or 0.15 per cent.
Sector-wise, buying interest was noted in auto, IT, FMCG, and PSU bank sectors, while selling pressure was evident in financial services, pharma, metal, and energy sectors.
In the Sensex ensemble, notable gainers included Bharti Airtel, Tata Motors, TCS, Bajaj Finance, HDFC Bank, Infosys, ICICI Bank, L&T, Asian Paints, Maruti, and SBI. Conversely, the top losers were Zomato, Power Grid, Titan, NTPC, UltraTech Cement, and IndusInd Bank.
The Dow Jones concluded the previous trading session at 42,906.95, gaining 0.16 per cent. The S&P 500 increased by 0.73 per cent to 5,974.07, while the Nasdaq rose by 0.98 per cent, closing at 19,764.88.
Among Asian markets, except for Seoul and Japan, exchanges in Hong Kong, China, Jakarta, and Bangkok were trading positively.
On December 23, foreign institutional investors (FIIs) sold equities valued at Rs 168.71 crore, while domestic institutional investors purchased equities amounting to Rs 2,227.68 crore on the same day.
