New York

Indian market flattened in morning trading

Mumbai (Maharashtra) [India], Oct 7 (ANI): The Indian market on Friday traded flat in the morning session amid weak global signals and rising oil prices. The SP BSE Sensex index fell 196 points to the 58,025.17 level, while the Nifty50 fell 51 points to 17,280 at 9.51 IST on Friday.

Green-traded stocks include Titan, Maruti, Reliance, HCLTech, Bharti Airtel and Kotak Bank. Infosys, HUL, Bajaj Finance, IndusInd Bank and SBI Bank were the laggards in the 30-share index. BSE Bankex fell 0.63% to 44,567 while BSE IT was 40 points. In the broader market, BSE mid caps fell 68 points while BSE small caps rose 60 points to 29,156. Nifty Bank fell 1% and Nifty Financial Services fell 0.73% in morning trading.

Titan’s share price rose by 5% respectively to Rs2,744 on the BSE, trading near all-time highs. The company said its overall sales grew 18% year-over-year from July to September and added 105 stores to its retail network in the second quarter of this fiscal year.

Oil prices are headed for their biggest weekly gain since Russia’s invasion of Ukraine this year. Rising oil prices and US jobs data weigh heavily on investor sentiment, as these factors could influence the Federal Reserve’s stance on monetary policy. If the Federal Reserve raises rates, all central banks across the economy will follow suit.

Asian stock markets had a chaotic day on Thursday as investors waited for today’s expected US jobs report. European stocks rose Thursday as investors awaited the minutes of the European Central Bank meeting and hoped for the pace and path of rate hikes.

The 30-share index – Sensex – closed 157 points higher yesterday led by strong buying support in metals and technology stocks amid strong signals from global equities. The index stands at 58,222.10 points, 156.63 points, or 0.27% higher than the previous session’s closing price of 58,065.47 points.

Tracking gains in global stock markets, Sensex surged at 58,314.05 points to a high of 58,578.76 points. Thursday saw a second straight day of strong gains for the market. Metals, real estate and media stocks shined in Thursday’s trading, while FMCG and pharmaceutical/healthcare stocks continued to come under pressure. The IT index also showed a reasonable increase. (Ani)

https://www.bignewsnetwork.com/news/272818865/indian-markets-flat-in-morning-trade?utm_source=feeds.bignewsnetwork.com&utm_medium=referral Indian market flattened in morning trading

Back to top button