Indian Market Today-Nifty50 index closed below 11100, Reliance down almost 2%

 

Indian stock market today opened in flat note amid weak global cues in the morning. The benchmark indices were trading in a negative and later in the second half recovered most of its losses. In advance-decline ratio in Nifty 50 index total of 32 shares were in advance and 18 shares closed in decline.

The market sentiments remain pessimistic even after Piyush Goyal stated that his ministry is working for an early resolution to Merchandise Export from India Scheme (MEIS) issues without having a serious impact on government finances.

The India Rating and Research (Ind-Ra) made a statement that the increase of India’s foreign exchange reserves is a combination of lower crude oil prices and subdued imports that have led to a current account surplus. This has also helped the Indian rupee to remain stable during the lockdown period since mid-March.

On the global front, Asian markets were closed in the mix. Investors were worried due to sluggish US jobs data and the spike in coronavirus infection cases worldwide. European markets are trading in a flat note. In the US market, Dow futures and Nasdaq futures index are trading in the positive zone.

 

Indian spot market today – Sensex, Nifty50 and Bank Nifty Index 

 

At close, the Nifty50 index down by 28.70 points or 0.25% and at 11073.45 while Sensex declined by 129.18 points or 0.34% and at 37606.89 levels. The Bank Nifty closed almost flat down by only 6.80 points and closed at 21640.05.

The Nifty midcap and smallcap 100 indices closed in the positive today. The midcap index gained 65.60 points or 0.43% and at 15471.30 whereas the smallcap index up by 41.45 points or 0.83% and closed at 5010.60 levels.

The top gainers in the Nifty50 index for the day are Grasim, Cipla, Sun Pharma, UPL, and JSW Steel. The top losers in the Nifty50 index for the day are Eicher Motors, Reliance, HDFC Bank, Asian Paints, and HDFC. The most active stocks of the day in NSE were Reliance, SBI, and Bajaj Finance.

On a sectoral basis, Healthcare, FMCG, Consumer Durables, Manufacturing, and Metals & Minings are closed in the green. On the losing side Oil & Gas, Insurance, Automobiles, and Banking & Finance were closed in the red.

 

Indian Derivative Market Today: Nifty and Bank Nifty futures 

 

The Nifty share price in futures opened at 11123.65, it made a positive opening of 30.5 points today. It has touched an intraday high at 11150and a day’s low at 11025

The Nifty share price in futures has given a movement of 125 points. In the end, it gained by 11.55 points or 0.10% and closed at 11104.95 levels

The Bank Nifty share price in futures opened at 21647.85 it made a positive opening of 16.45 points today. It has touched an intraday high at 21827.60 and a day’s low at 21400.65

During the day the Bank Nifty share price in futures has given a movement of 426.95 points. In the end, it gained by 63.6 points or 0.29% and closed at 21695 levels.

 

Conclusions: 

Indian stock market closed in the negative zone today consecutively for the third trading session. Nifty50 index closed below 11100 levels today, it took support around 11030 levels. A profit booking in the heavyweight stocks at the higher levels seen in the market. 

Please visit our website to read the stock market outlook for next week and last week’s market updates tomorrow.

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Editor’s desk

 

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