Markets open strong, Nifty surpasses 19,800 mark and Sensex gains 300 points
Business | October 17, 2023 9:37 ISTSensex, the benchmark index of the Bombay Stock Exchange (BSE), joined the upward trajectory, gaining 300 points in early trade.
Sensex, the benchmark index of the Bombay Stock Exchange (BSE), joined the upward trajectory, gaining 300 points in early trade.
The 30-share BSE Sensex declined 115. 81 points to settle at 66,166. 93. During the day, it fell 243.36 points to 66,039.38. The Nifty slipped 19.30 points to 19,731.75.
Financial services firm CLSA has released its top stock picks following the upgrade, expressing high confidence in companies such as Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Bajaj Finance, L&T, Axis Bank, ONGC, and Tata Motors.
Nifty Smallcap 250 led with a 0.82% gain, followed by Nifty Microcap 250, surging 1.06%. Notable performances included Nifty Smallcap 100 (0.79%), Nifty Midsmallcap 400 (0.74%), Nifty Midcap 100 (0.71%), and Nifty Smallcap 50 (0.65%).
Asian shares experienced a rebound from their 11-month lows on Thursday, benefitting from a decline in oil prices and softer-than-expected US labor data. These factors contributed to improved market sentiment across the region.
At the opening bell, the Sensex stood at 65,511, while the broader Nifty index was at 19,537. This downward trend in the stock market reflects cautious sentiment among investors.
In the opening bell on Thursday, the 30-share BSE Sensex climbed 287.32 points to 66,406.01 in early deals. The Nifty advanced 50.2 points to 19,766.65.
The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 per cent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 per cent to close at 66,118.69.
The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15.
Market breadth showcased a balanced picture with 1,791 stocks advancing, 1,756 stocks declining, and 122 stocks remaining unchanged.
The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The BSE Sensex managed to secure a modest gain of 15 points, closing at 66,024, while the Nifty 50 remained nearly unchanged, concluding at 19,675 points.
The 30-share BSE Sensex opened at 67,659.91, up by 140.91 points. The Nifty advanced 53 points to reach 20,156.45 points.
Notably, the Nifty 50 reached a new milestone by hitting an all-time high of 20,167.65, and the BSE Sensex also joined the rally by achieving a fresh all-time high of 67,771.05 points in the early trading session.
Equity investments allow investors to earn returns in the form of capital gains and dividends.
At 9:15 am, the Nifty 50 record plunged by 0.14 percent to 19,436.30, and the S&P BSE Sensex edged down 0.15 percent to 65,439.50.
In a preferential issue of shares, the participating company makes bulk allotment of fresh shares to its investors. The entire process is termed as the preferential allotment of shares.
Persistent flows from FPIs have led Indian equity markets to surge to their all-time high levels.
Eid-al-Adha 2023: On Tuesday, the National Stock Exchange and Bombay Stock Exchange put out circulars in line with the Maharashtra government's notification released on Monday regarding the change in the Eid holiday.
A preliminary report last week indicated the overall US economy continues to grow, even though manufacturing is shrinking and its output fell to a five-month low.
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