The impact of global markets is being seen on the domestic stock market. At the beginning of the stock market, Bank Nifty is seeing a decline and sectoral indices like auto, PSU bank are also trading with weakness. The IT index is seeing a rise on the strength of the rise in IT stocks and even though the FMCG index opened with a decline, within 5 minutes this FMCG sector has seen a rise of more than half a percent.
Unique trade scenario in the stock market
When the market opened in the morning, Bank Nifty was in decline, but within 15 minutes of opening, it has turned back to the bullish phase. At the same time, Britannia is bullish in the FMCG sector but ITC has almost come close to its all-time high. At 9.30 am, the Sensex is trading at 81,773.78 and Nifty at 24,995.65 in the stock market.
How was the market opening today
The BSE Sensex is showing a flat opening and has opened at 81,928, up a nominal 6.83 points. However, the NSE Nifty has opened with a slight fall and has opened at 25,034, down 7.10 points. At the time of opening in Nifty, 1296 stocks are seeing a rise and 346 stocks are seeing a decline.
Update on falling stocks of Nifty
ONGC is trading at lower levels after the fall in crude oil. Tata Motors is also showing a decline and today clearly FMCG is giving impetus to the market and the IT index is supporting it.
At what levels did the stock market close yesterday
On Tuesday, the BSE Sensex closed at 81,921.29 with a gain of 361.75 points or 0.44 percent. Apart from this, Nifty50 closed at 25,041.10 after gaining 104.70 points or 0.42 percent.
Crude oil prices now improve after falling yesterday
Crude oil prices have now stabilized after falling to a three-year low. Brent crude futures rose 0.52 percent to $69.55 per barrel after falling more than 3 percent on Tuesday. At the same time, US West Texas Intermediate (WIT) crude rose 0.61 percent to $66.15 per barrel.
Tata Motors shares fell sharply after the report of the brokerage firm
For the last 9 trading sessions, Tata Motors shares were trading in the red mark. Let us tell you that for the first time in September after the month of July, the share price of Tata Motors fell below Rs 1000. This decline came after the report of the brokerage firm.
What did the brokerage firm advise – Brokerage firm UBS Securities presented a report on Tata Motors. In this report, the firm raised the target price of the stock to Rs 825 per share. At the same time, the stock rating was also changed from BUY to SELL.
According to the firm’s target price, Tata Motors’ stock may fall by up to 20 percent. The brokerage firm said that the company’s luxury unit Jaguar Land Rover (JLR) and domestic passenger vehicle margins may come under pressure. After this pressure, the company may have to face more losses. Due to the concern about the company’s loss, the brokerage firm reduced the target price and also changed the rating.
Tata Motors Stock Performance
Tata Motors’ stock has seen fluctuations. In the last 5 trading sessions, the company’s shares have fallen by 9.74 percent. At the same time, in the last 6 months, the company’s stock has given a negative return of 3.82 percent. However, in the last 1 year, the company’s stock gave a return of 54 percent.
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