Indian Stock Market Updates:
Market Updates, today market gained for the second straight session Nifty50 closed above 11000. In the end, Nifty50 and Sensex gained 56.80 points and 163.68 points and closed at 11003 and 37145.45 respectively. At close, Bank Nifty managed to gain 256.80 points and closed at 27504.70.
Morning, it was a negative start for the Indian stock market even after positive global cues. The Global markets gained today as investors hope on stimulus to support the slow economy. A surprise rise in German export data and expectation of stimulus by the European Central Bank has opened the European market in the green today.
The top five Nifty50 stocks gainers are Yes Bank, UPL, Maruti Suzuki, Larsen, and Kotak Mahindra bank. The top five Nifty50 losers are HCL Tech, Infosys, Tech Mahindra, Eicher Motor and Bajaj Auto.
The Nifty mid and small-cap also gained 192.50 and 35.35 points respectively during the day. The top gainers in Nifty midcaps 100 stocks are Dilip Buildcon and RBL Bank which gained 7% to 10%. The top gainers Nifty smallcap 100 stocks are Shankara Building and Rain Industries these stocks gained around 19% today.
Stocks in the news today
L&T bagged a prestigious residential housing project from CIDCO. It’s a 5000-7000 crores project under PMAY at Navi Mumbai.
SBI has cut the lending rate for all tenors by 10bps with effect from 10th September.
Sun Pharma promoter has released a pledge of 99.7 Lakh shares on 6th September.
Infosys in collaboration with Microsoft announced a strategic tie-up with JG Summit Holdings, Inc, Philippines.to enable digital transformation.
Lupin has got approval for a new drug from the United States Food and Drug Administration.
Market Updates: Currency, Crude, FIIs…
On Sector-wise, almost all the sector closed in green except IT, Insurance and manufacturing. Today FIIs sold Rs 188.08 crores in cash segment and bought Rs 2174.86 crores in F&O (Index+stock). DIIs bought 686.47 in cash segment today.
Today, the Indian rupee depreciated 0.05% compared to yesterday’s close and ended at Rs 71.67 against the US dollar. The Brent oil future price is trading almost 1% higher today, currently trading above $ 62 per barrel.
Stock Market for the next trading day
Tomorrow, the Indian stock market will be a holiday on account of Muharram. The next trading day will be on Wednesday and the market will open as per global cues. Though Nifty formed a bullish candle now can it cross the 11,050 levels? To know the technicals of Nifty and Bank Nifty Investors can get the views on our “Nifty50 and Bank Nifty” section.
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