Market views: Markets are trading higher, IT, Auto, Infra sectors are in focus

 

Market Views: It was a positive start for the Indian markets as indicated by the Asian markets. The Nifty opened at 10910.40 levels made a gap up of 104.85 points while Sensex made a positive opening of 438.29 points at 36991.89 levels. The Bank Nifty on spot levels made a gap up opening of 283.95 points at 20740.80 levels.

At 10 am IST, Nifty and Sensex are trading higher by 0.60% while Bank Nifty on the spot levels trading almost flat today.

Adani Ports, TCS, and HCL Tech are trading as top gainers in the Nifty index whereas Kotak Mahindra, Titan, and HDFC are trading as the top losers. TCS, Reliance, and Dr. Reddy’s lab are trading as the most active stock in the NSE.

IT & Software, Infrastructure, and FMCG sectors are trading as top gainers whereas the Hospitality, Insurance, and Power sectors are trading marginally lower.

 

Asian market cues indicate a positive opening for Indian markets today

 

Good morning and welcome to Market views for 25th Sept at 8.30 am IST

Asian markets are trading in the green today. Nikkei and Hang Seng are trading higher by 0.58% and 0.42% respectively while Shanghai is trading 0.28% up. The SGX Nifty is also trading higher by 69 points or 0.64%. Asian markets cues indicate a positive opening for the Indian market today.

The US markets closed higher on Thursday as some buying seen in the Technology stocks. Dow gained 0.20% while S&P 500 and Nasdaq closed higher by 0.30% and 0.37% higher from the previous close on Thursday.

The European markets closed lower yesterday due to the fear of infection and a slow global economy. FTSE and CAC were closed lower by 1.30% and 0.83% respectively while DAX was down by 0.29% on 24th September.

Heavy selling pressure was seen in the Indian markets yesterday, Nifty and Sensex closed lower by 2.93% and 2.96% respectively. FIIs were the seller and DIIs bought in the cash market yesterday. FIIs sold Rs 1885.69 crores while DIIs bought Rs 188.64 crores in the cash market segment on Thursday.

You can also read yesterday’s market report here

 

The news that can influence the stock market views today

 

The US weekly jobless claims for unemployment benefits unexpectedly increased last week. The initial claims for unemployment benefits totaled a seasonally adjusted 870,000 for the Sept 19, week as against to 866,000 in the previous week.

India’s rating and research have maintained a negative outlook on non-banking financial companies (NBFCs) and housing finance companies (HFCs) for the second half of FY21. It said on Thursday that the growth in assets under management would be flattish for NBFC as gainst it was estimated of 8-10% YoY and lower single digits for HFCs in 2020-21.

Banks have sanctioned loans of about Rs 1.77 lakh crore to 44.2 lakh business units under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector according to the Finance Ministry on 24th September. This is due to the slowdown caused by the coronavirus pandemic, however, the disbursement amount stood 1,25,425 crore to 25.74 lakh MSME till September 21.

You can visit this page for more stock market views after the market gets open.

 

You can also read the Nifty50 Stocks list | Index | Share price

 

Happy Investing!!

Editor’s Desk