Home Business Indian indices open on flat note, Sensex at 62,439

Indian indices open on flat note, Sensex at 62,439

The stock indices opened on a flat note today. (File)

Benchmark equity indices Sensex and Nifty traded almost flat in morning trade today as gains in crude oil prices and select banking stocks offset losses in IT and FMCG stocks amid Assembly election results in Himachal Pradesh and Gujarat.

The 30-share BSE Sensex advanced marginally by 28.87 points, or 0.05 per cent, to 62,439.55 in volatile trade. Its 16 components advanced while 14 declined.

The broader Nifty at the National Stock Exchange was up 8.60 points, or 0.05 per cent, at 18,569.10 as 28 of its constituents advanced, 21 declined and 1 remained unchanged.

Major gainers included IndusInd Bank up one per cent, Axis Bank up 0.91 per cent and ICICI Bank up 0.95 per cent. SBI, Mahindra & Mahindra, L&T, Nestle, UltraTech Cement, Maruti and Reliance also advanced.

On the other hand, Kotak Bank, HUL, TCS, Tech Mahindra, Infosys, Power Grid, Asian Paints, Sun Pharma, Dr Reddy’s and Wipro declined.

VK Vijayakumar, chief investment strategist, Geojit Financial Services, said, “Reaffirming that the Indian economy is doing well in a world of slow growth and inflationary fears, RBI governor Shaktikanta Das indicated that global spillovers will affect India’s economy.” Slowing down the economic pace.

“The PSU banking space, especially the leading names, are likely to remain resilient. Capital goods stocks are showing strength,” he added.

The BJP is eyeing a record seventh consecutive term in Gujarat and is hoping to bring down almost four decades of anti-incumbency in Himachal Pradesh as the counting of votes for the assembly elections in the two states begins on Thursday. Has been.

The Reserve Bank of India (RBI) on Wednesday hiked the key repo rate by 35 basis points, the fifth straight hike since May, raising the possibility of EMIs for home, auto and other loans.

“Economic growth in India remains resilient and inflation is expected to ease,” Das said. “But the fight against inflation is not over.” The RBI retained its 6.7 per cent inflation forecast for the current fiscal year ending March, but cut economic growth expectation to 6.8 per cent from the earlier forecast of 7 per cent.

On Wednesday, the Sensex closed at 62,410.68, down 215.68 points or 0.34 per cent. Similarly, the broader Nifty fell 82.25 points, or 0.44 per cent, to 18,560.50.

Foreign institutional investors (FIIs) were net sellers in the capital market, selling shares worth Rs 1,241.87 crore on Wednesday, according to exchange data.

featured video of the day

RBI hikes key lending rate, lowers growth forecast


Ashneer Grover, Madhuri Jain summoned in legal battle with BharatPe

<!-- -->Ashneer Grover resigned from BharatPe in March. (file)New Delhi: The Delhi High Court today issued summons to former BharatPe MD Ashneer Grover...

Air India’s $400 million upgrade includes premium economy area

<!-- -->Air India said it has engaged JPA Design to assist with the cabin interior design. (File)Mumbai: Full-service carrier Air India today said...

Inox GFL Group raises Rs 1,500 crore, moves towards zero net debt

<!-- -->Rs 740 crore was raised through the IPO of Inox Green Energy Services. (File)Noida: Inox GFL Group on Thursday said it has...


Please enter your comment!
Please enter your name here

Most Popular

Turkey’s leader admits “shortcomings” as earthquake kills more than 12,000

<!-- -->In 1999, a magnitude 7.4 earthquake killed over 17,000 people.Conclude: Turkish President Recep Tayyip Erdogan acknowledged "shortcomings" on Wednesday following criticism of his...

Amrita Singh was cheated by Sunny Deol, she separated from Vinod Khanna because of her mother

Amrita Singh is not dependent on any introduction. He created panic in the industry with his strong acting between the 80s and 90s....

“Will Inject Pace…”: Ramiz Raja Feels This India White-Ball Specialist Should Be Unleashed vs Australia | cricket news

India take on Australia in the Border-Gavaskar Trophy© BCCIFormer Pakistan Cricket Board (PCB) chairman Ramiz Raja feels Team India should unleash white-ball specialist Suryakumar...

Sargun Mehta revealed what the mother said about Priyanka Chaudhary winning Bigg Boss: ‘She has won and…’

Actor Sargun Mehta took to Instagram, and shared a series of pictures with husband-actor Ravi Dubey and actors - Priyanka Chaudhary and Ankit Gupta....

Recent Comments