Market live 21 Oct: Indian Stock Market is trading higher, IndusInd Bank top gainer

 

Indian stock market today started with a strong note as indicated by the global peers. The Sensex opened at 40767.14 levels made a gap up opening of 222.77 points while the Nifty index opened at 11958.55 levels, a positive opening of 61.75 points. The Bank Nifty on the spot levels also made a positive opening of 132.4 points at 24,444.20.

At 10 am IST, the Nifty and Sensex are trading higher by more than 0.90% while Bank Nifty is up by 1.70%.

IndusInd Bank, Tata Steel, and BPCL are trading as the top gainers whereas Britannia, Nestle and HUL are trading as top losers in the Nifty index. Reliance, HDFC, and IndusInd Bank are trading as the most active stocks in the NSE at this moment.

On a sectoral basis, almost all major sectors are trading higher except FMCG. The sectors that trading as major gainers at this moment are Metals, Oil & Gas, and Banking & Finance.

 

Indian stock market is expected to open a gap up today

 

Good morning and welcome to stock market live for 21 Oct, at 8 am IST

Asian markets are mostly trading in the green zone today. The Nikkei and Hang Seng are trading higher by 0.42% and 0.82% whereas Shanghai is trading absolutely flat. The SGX Nifty is also trading strong, 42 points up from yesterday’s close. The global market indiction is positive for the Indian market today.

U.S markets rose Tuesday on optimism that Congress would reach an agreement on fiscal stimulus to support American households and businesses. The U.S market indices Dow and S&P 500 gained 0.40% and 0.47% respectively while Nasdaq was up by 0.33% on Tuesday.

European markets fell on Tuesday even after strong earnings reported by the corporates. Investors are worried about the surges in coronavirus cases and BREXIT in Europe. CAC and DAX closed lower by 0.27% and 0.92% respectively whereas FTSE closed almost flat 0.08% higher on 20 October.

Back home in India, the market closed almost flat on Tuesday. The Nifty and Sensex closed higher by 0.20% and 0.28% respectively. The FIIs were the buyers and DIIs were the seller on Tuesday. FIIs bought Rs 1585.07 crore while DIIs sold Rs 1633.23 crores in the cash market segment on Tuesday, 20 October.

 

 

News that may influence today’s stock market live 

 

The Commerce and Industry Ministry said on October 20 that the Foreign Direct Investment (FDI) in India has increased by 16% YoY to $27.1 billion during April-August in 2020. This is as compared to $23.35 billion FDI received last year for the same period.

The Indian government may cap royalty payment to foreign partners of Indian companies. The domestic companies having tie-up with foreign partners for technology collaboration or brand name will not be allowed to pay hefty amounts to their foreign partners. The Finance Ministery said to have consulted with the SEBI and RBI on this proposal, the news as per Moneycontrol.com

Results today- Bajaj Finserv, Bajaj Finance, Ultratech Cement, Colgate Palmolive, GVS Pharma, KPIT Technologies, Sagar Cements, Sasken Technologies, Chennai Petroleum Corporation, etc

You can read more updates on Stock market Live reports after the market gets open

 

You may like to read, Nifty, Bank Nifty futures prediction for ( 19-23 Oct) week

                                  Ultratech & JSW Steel Share Price target for next week

                                  Nifty, Bank Nifty futures prediction for 21 Oct  

 

Happy Investing!!

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