Nifty ends below 17900, Sensex managed to hold 60K

 

 Closing Bell 2 Nov 2021: Nifty ends below 17900, Sensex managed to hold 60K

 

The Indian stock market indexes erased their early gains and closed marginally lower on Tuesday. At close, Nifty was down by 40.70 points or 0.23 percent and closed at 17888.95 levels while Sensex declined 109.40 points or 0.18 percent and finished at 60029.06 levels. The Bank Nifty spot price gained 174.70 points or 0.44 percent and ended at 39938.45 levels.           

The broader outperformed the benchmark indices today as Nifty midcap and smallcap indexes closed higher. The Nifty midcap index gained 257.35 points or 0.83 percent and closed at 31281.05 levels. The Nifty smallcap index was up by110.40 points or 1.02 percent and finished at 10970.30 levels.

The top five gainers in the Nifty 50 index were Maruti, Titan, NTPC, SBI, and LT. The top five losers in the Nifty 50 index were Tata Steel, Grasim, JSW Steel, Hindalco, and HCL Tech. The most active stocks in the Nifty50 index in terms of value were Tata Motors, Sun Pharma, and SBI. The most active stocks in the Nifty5o index in terms of volume were Tata Motors, SBI, and NTPC.

On a sectoral front, Nifty Realty, Media, Auto, Financial Services, and Consumer Durable sectors closed higher. On the losing side, Metals, Energy, Pharma, IT and FMCG sectors closed in the red today.

 

Nifty trading below 17900, Sensex down almost 100 pts

 

The key benchmark indices are swinging near their neutral lines in the afternoon session. Traders turned cautious ahead of the FOMC meeting outcome on 3 November and with the Centre for Monitoring of Indian Economy (CMIE) Report. The CMIE data shows that despite a 124 basis points month-on-month decline in urban joblessness rate, the country’s overall unemployment rate rose again in October, owing to a sudden 175 basis points rise in the rural joblessness rate.

However, traders found some support with SBI Research’s report stating that the digitization drive and pandemic-induced emergence of the gig economy have led to a faster formalization of the economy, with the share of the informal sector shrinking to just 15-20 percent in 2021 from 52.4 percent in 2018.

At 1 pm the key indices, Sensex and Nifty are trading marginally lower by 0.18 percent and 0.20 percent respectively. The Bank Nifty spot price is trading higher by 0.51 percent. The broader markets are trading higher today by 0.54 percent and 0.95 percent respectively.

On a sectoral front, Nifty Realty, PSU Bank, Auto are trading higher whereas Pharma, Metals, and FMCG are dragging down the markets.

 

Sensex and Nifty are trading flat, Realty and Auto are in focus

 

Indian stock markets opened higher on Tuesday amid mixed cues from other Asian markets. The market sentiments are optimistic ahead of Diwali due to positive economic data reported on Monday. The global cues are also positive as Wall Street and European markets closed higher on Monday.

The Nifty opened at 17970.90, up by 41.25 points while Sensex made a positive opening of 222.15 points at 60360.61 levels. The Bank Nifty spot price is also opened higher at 39796.90 levels, up by 33.15 points from the previous close.

 

Sensex & Nifty Live 2 Nov

 

 

At 10 am, the key benchmark indices, Sensex and Nifty are trading higher by 0.09 percent and 0.13 percent respectively. The Bank Nifty spot price is trading almost flat to the positive at this moment. The Nifty midcap index is trading higher by 0.83 percent and 0.71 percent respectively.

The gaining stocks in the Nifty50 index are NTPC, Maruti Suzuki, and Titan and the losing stock at this time are Sun Pharma, IndusInd Bank, and Dr. Reddy.

On a sectoral front, Nifty Realty, Auto, Energy, and Metal sectors are trading in the green whereas Pharma sector is trading in the red.

 

You may like to read,  Nifty & Bank Nifty Prediction for Tomorrow, 2 Nov 2021

 

Happy Investing!!

Editor’s desk