Despite global markets, the Indian stock market continues to rise

Heavy selling was seen in Asian markets on Tuesday Hong Kong, China, Japan, Taiwan, Korean shares fell up to 2.4 percent, volatility index jumped 6 percent for the second day Energy, auto, bank, FMGC undertone firm IT, weakness in metals broad Broad positive despite market downturn. Ahmedabad. The Indian market remained on a positive close […]
 


Despite global markets, the Indian stock market continues to rise

Heavy selling was seen in Asian markets on Tuesday Hong Kong, China, Japan, Taiwan, Korean shares fell up to 2.4 percent, volatility index jumped 6 percent for the second day Energy, auto, bank, FMGC undertone firm IT, weakness in metals broad Broad positive despite market downturn.

Ahmedabad. The Indian market remained on a positive close for the fifth consecutive day amid narrow volatility in the second session of the week. The domestic market outperformed amid heavy selling in global markets. BSE Sensex closed 21 points higher at 58,328, while Nifty closed 5 points higher at 17,345. Market-breadth in large-caps was seen as neutral. Out of 50 Nifty counters, 27 showed a positive close. While 23 saw a decline. Buying was slow in the broader market. However, the number of gainers on BSE was higher than the losers. Volatility index India Vicks rose 6 per cent for the second day amid stability in the benchmark. Which shows that the market may have two-way volatility in the next session.

The domestic market opened with a fall on Tuesday. nifty 30

After opening with a drop of points, there was a further decline of 110 points. However, then the bulls had free reign over the market and the index was trading as high as 17,390 before the close. However, it eventually showed a slight flattening closer. The Indian market completely ignored the Asian markets. All Asian markets were showing negative closes except Singapore. In which the markets of Hong Kong and China were showing signs of decline of more than 2 percent. While Japan and

Taiwanese markets saw a decline of more than one percent. The Korean market was pointing to a 0.5 per cent softening. Thus the Indian market continues to outperform the competitor.

On Tuesday, IndusInd Bank was on top of the major counters supporting Nifty with a gain of 2.6 per cent. Apart from these, there were Asian Paints, NTPC, Maruti Suzuki, Power Grid Corporation, HUL, SBI, Kotak Mahindra, JSW Steel. While on the upside, UPL, Hero MotoCorp, SBI Life, Britannia, Tech Mahindra, HDFC Life, Hindalco and HDFC were the main drags on the benchmarks.

 

Tracking the performance of various sectoral benchmarks, Nifty Energy ended with a fall of over one per cent. The main reason was the support of NTPC, HPCL and Power Grid Corporation. Power shares were showing universal strength. Counters like Tata Power, NHPC were also showing positive business. Nifty FMCG rose 0.6 per cent. HUL registered an improvement of 1.63 per cent. 2,600 was crossed. ITC reported bumper results for the June quarter which supported the FMCG benchmark. Apart from this, Procter & Gamble, Jubilant Food, Nestle also saw improvement of more than one percent. Nifty PSU Bank was up 2.7 per cent.

 

In which JK Bank 5 per cent, Bank of Baroda 5 per cent, Bank of Maharashtra 4 per cent, Canara Bank 3.6 per cent, UCO Bank 3.5 per cent and IOB 3 per cent. Bank Nifty showed a marginal improvement of 0.32 per cent. However, it crossed the 38 thousand level. Thus he crossed an important psychological surface. Top private banks HDFC, ICICI, Bandhan and Axis Bank were soft. The automobile sector remained strong on the back of good sales numbers. The auto index crossed the 13,000 mark and closed at 13,023. In which Maruti Suzuki rose by 2 percent to Rs. It managed to close near 9,200. MRF, M&M, TVS Motor, Eicher Motors were also showing improvement of over one per cent. Flat close was seen in Nifty firm. Aurobindo Firma closed with a gain of 3 per cent.

 

Metals traded higher. Among them, Nalco, Jindal Steel, Tata Steel, Vedanta and Hindustan Zinc closed lower. Nifty IT also saw a decline of 0.7 per cent. Counters like Cofarge, L&T Infatech, Tech Mahindra, Mindtree, L&T Technology and Emphasis were mainly suggesting a fall of 1-3 per cent.

 

In the NSE derivatives segment, IDFC rose 4.3 per cent, Oracle Financial 4.3 per cent, Burger Paints 3.75 per cent, Vodafone Idea 3.3 per cent, Aditya Birla Fashion 3 per cent, RBL Bank 2.9 per cent and Indiabulls Housing Finance 2.7 per cent. In contrast, Escorts declined 5.2 per cent, GAIL 4 per cent, Indus Towers 3.4 per cent, Ashok Leyland 3.6 per cent, Refsource 3.5 per cent, Godrej Properties 3.2 per cent and Cofarge 3 per cent.