Indian Stock market view: Markets are trading higher, IT & Infra are in focus

 

Market View: Indian stock market opened in the red amid negative global cues. The Nifty opened at 11861, made a negative opening of 12.05 points while Sensex opened at 40420.29 levels slipped only 11.31 points from the yesterdays close. The Bank Nifty on the spot levels made a gap down opening of 149.4 points and opened at 24117.35 levels.

At 10 am IST, the Nifty index and Sensex are trading higher by 0.19% and 0.22% respectively whereas Bank Nifty on the spot level down by 0.56%.

HCL Tech, Larsen, and Asian Paints are trading as the top gainer in the Nifty Index while Britannia, ONGC, and IOC are trading as the top losers. HDFC Bank, HCL Tech, and Infosys are trading as the most active stocks in the NSE today.

On a sectoral basis, IT & Software, Infrastructure, and Automobiles sectors are trading as the top gainers. On the losing side, Banking & Finance, Oil & Gas, and Metals sectors are trading in the red.

 

Markets may open negative today.

 

Good morning and welcome to the Indian stock market view 20 Oct at 8.15 am IST

Asian markets are trading lower today. Nikkei and Shanghai are trading 0.32% and 0.30% lower while Hang Seng is trading flat. The SGX Nifty is also trading 51 points or 0.46% down. Indian stock market may open in negative as per the global cues.

The U.S markets surrender their early gains and closed lower on Monday. Investors worried that lawmakers and the White House could fail to strike an agreement for new fiscal stimulus ahead of the November election. The U.S market index Dow and S&P 500 fell 1.44% and 1.63% respectively while Nasdaq was down by 1.65% on Monday.

European markets closed lower on Monday as increasing coronavirus cases raised the possibility of further economic restrictions in the region. Traders have overlooked the signs of progress on a Brexit trade deal and hopes of fiscal stimulus in the United States. FTSE and DAX closed lower by 0.59% and 0.42% respectively while CAC was marginally down by 0.13% on 19 Oct.

In India, the Nifty and Sensex closed higher by 0.94% and 1.12% respectively. The FIIs were buyers and DIIs were the seller in the cash market segment on Monday. FIIs bought Rs 1656.78 cr and DIIs sold Rs 1621.73 crore in the cash market on Monday.

You can read more updates and views on yesterday’s Indian stock market here.

 

 

Market view: News that may influence the Indian stock market today

 

On Monday FM Nirmala Sitharaman urged large central public sector enterprises (CPSEs) to achieve 75% of their planned capital expenditure (CAPEX) target for FY21 by December. This is to support economic growth hit by the coronavirus pandemic.

On Monday former RBI Deputy Governor Viral Acharya said on Rauter that India is neglecting bank recapitalization as it focuses on debt moratoriums and interest waivers for borrowers amid the COVID-19 pandemic. Restoring a bank’s capital is critical for aiding a meaningful recovery, but there has been little focus on that matter.

Today’s result- Hindustan Unilever, Larsen & Toubro Infotech, DCM Shriram, Gujarat Ambuja Exports, Bombay Dyeing & Manufacturing, Kajaria Ceramics, etc.

You can read more updates and views on the Indian stock market after the market gets open

 

You may also like to read, Ultratech & JSW Steel Share Price target for next week

                                          Nifty, Bank Nifty futures prediction for ( 19-23 Oct) week

 

Happy investing!!

Editor’s Desk