The stock market has lost the morning gains. The Sensex has fallen from today’s high of 82137 to 81695. The second Nifty is at 24985 with a fall of 29 points. Today it has reached 25143. Nifty top losers today are Adani Ports, BEL, ONGC, Coal India, and Adani Enterprises, which have fallen from 2.39 to 2.94 percent.
The stock market may be in the green right now, but the morning gains have reduced. ITC is up more than 2 percent. Kotak Bank is up 1 percent, despite this the Sensex is down only 123 points at 81812. Because, the shares of big companies including Titan, Adani Ports, and Power Grid are down.
The five-day decline in the stock market has been halted today. Amidst good global signals, BSE’s 30-share benchmark index Sensex opened with a gain of 238 points at 81926. Whereas, NSE’s 50-share index Nifty managed to open 69 points higher at 25084.
The decline in the domestic stock market for 5 consecutive sessions may stop today because global signals are indicating something similar. Today, on the first day of the week, Monday 7 October, Asian markets saw mixed trading, while US stock markets closed with strong gains on Friday. Gift Nify has also given good signals.
How can the stock market move today?
Asian Markets: Asian stock markets saw mixed trading on Monday led by Japanese stocks. Japan’s Nikkei 225 rose 2.03 percent and the Topix index rose 1.62 percent. And if we talk about Korea, South Korea’s Kospi fell 0.28 percent, while Kosdaq rose 0.37 percent.
GIFT Nifty: GIFT Nifty was trading around 25,260 level, a premium of about 70 points over the previous close of Nifty futures, indicating a positive opening for the Indian stock market.
Wall Street: US stock markets closed higher on Friday, with the Dow Jones setting a record. The Dow Jones Industrial Average rose 341.16 points, or 0.81 percent, to 42,352.75, while the S&P 500 rose 51.13 points, or 0.90 percent, to 5,751.07. The Nasdaq Composite gained 219.37 points, or 1.22 percent, to close at 18,137.85.
Israel-Iran Tension: Israel intensified its bombing of northern Gaza and southern Lebanon with a fresh round of airstrikes hitting Beirut suburbs late Sunday. Palestinian officials said at least 19 people were killed in an attack on a mosque.
Crude oil: Crude oil prices fell on Friday after recording the biggest weekly gain in more than a year. Brent crude futures fell 0.5 percent to $ 77.62 a barrel, while US West Texas Intermediate crude futures fell 0.5 percent to $ 74.03 a barrel.
Gold prices fell: Gold prices fell as bets for a US rate cut strengthened. Spot gold fell 0.1 percent to $ 2,650.79 an ounce, while US gold futures rose 0.1 percent to $ 2,670.20.
Capitalization of nine companies decreased by Rs 4.74 lakh crore
The sharp decline in the domestic stock markets last week has also had a negative impact on companies’ market capitalization. During this period, the market capitalization of nine of the top 10 companies listed on the BSE has decreased by Rs 4.74 lakh crore. Reliance Industries’ capitalization has decreased the most by Rs 1.88 lakh crore.
Two IPOs will open for subscription this week
After the boom in recent weeks, there has been a slight slowdown in IPO activities. This week, IPOs of only two companies will open for subscription. This includes the IPO of Mainboard’s Garuda Construction and Engineering and SME Platform’s Shiva Texchem. Shares of six SME companies will also be listed this week.
